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Apr 02, 2022
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within reason, when price shifts email list, consumers still require them. A more realistic approach to price and demand prediction is more toward the idea of pricing email list points. For example, if the price is high and quantity is purchased for a luxury brand, and the price is suddenly dropped email list, initially, the demand would increase as email list consumers believe there is more value. However dropping the price further may then decrease demand, as consumers start to feel that the luxury brand is losing its exclusivity. This makes demand fall. All of these types of factors must be email list taken into account by the marketing department when setting price email list of their products. The Pricing Phenomena As much as economic theory attempts to assume that consumers are rational, they just email list aren't when it comes to purchasing. The perceptions of value and email list price given by an individual consumer is so unpredictable that it takes the function of marketing research to really delve into why consumers think and act as they do. Take, for example, bridal products. Large organisations over charge email list for pretty much everything to do with 'the big day', however the consumer is more than willing to pay as it's more of an emotional purchase rather than a rational, 'utility maximisation' purchase.
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