MKT 571 WEEK 4 TAPPING THE GLOBAL MARKET

MKT 571 WEEK 4 TAPPING THE GLOBAL MARKET

MKT 571 Week 4 Tapping The Global Market PPT!!

Determine Pricing Strategies 

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Consumers often actively process price information, interpreting it from the context of prior purchasing experience, formal communications ( advertising, sales calls, and brochures), informal communications ( friends, colleagues, or family members). How consumers perceive prices and what they consider the current actual price to be (Kotler & Keller, 2012).

Reference prices compare an observed price to an internal reference price they remember or an external frame of reference such as a posted regular retail price (Kotler & Keller, 2012).

PRICE- QUALITY INFERENCES Many consumers use price as an indicator of quality. Higher- priced cars are perceived to possess high quality (Kotler & Keller, 2012).

PRICE ENDINGS Many sellers believe prices should end in an odd number. Customers see an item priced at $ 299 as being in the $ 200 rather than the $ 300 range (Kotler & Keller, 2012).

Selecting the pricing objective