Customers and how this affects the

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Perception of the value of your offering. Market and competition analysis learn about competitors' prices and consider how your offer stands out from others. This will help you determine whether you should compete on price or focus on other strengths. Understanding your customer - get to know your customers' needs and epectations. Consider what their priorities are and how this influences their purchasing decisions. Price fleibility consider whether and how you can adjust prices in response to changes in the market or consumer behavior. Pricing strategy


and brand positioning Your price should reflect your brand positioning. Ask yourself this question: Are you a luury brand or a more budget brand Also remember that you shouldn't be afraid to eperiment with pricing and see how it affects your sales Singapore Mobile Number List and customer reception. Then implement the necessary changes and check after some time how they influenced customers' perception of the offer. Good to know! An effective pricing strategy is a process of continuous learning and adaptation to changing market conditions and the needs of your customers. It's not





just numbers, but also an understanding of consumer psychology and market dynamics. What can be communicated with price in marketing When determining the value of goods or services, a variety of messages are often communicated to customers. Pricing methods are based on the use of various strategies. Cream harvesting strategy This method works well for products that are just entering the market. In this case, the price and its functions are determined based on the criterion of newness. Sales people believe that some consumers are willing to pay more just to buy something that is currently in fashion.