4. Price Concept 1: Pricing is an integral part of the marketing mix
5. Price Concept 2: Buyers are not just “price takers”, understand Consumer Pricing Psychology Consumer Pricing Psychology
6. Price Concept 3: Pricing is dynamic and must always respond to the times Consumer Pricing Psychology Company Competitor Dynamic
7. Price Concept 4: A clear objective is essential for pricing decisions Consumer Pricing Psychology Company Competitor Dynamic Objective
8. Price Concept 5: Base your price on your competitors’, and anticipate a response Consumer Pricing Psychology Company Competitor Dynamic Objective Competitor response
10. Price Concept 7: Pricing is not always about “lowest price” Consumer Pricing Psychology Company Competitor Dynamic Objective Competitor response Differing methods Sale away profits and clients
11. Price Concept 8: Price differentiation is a useful tool Consumer Pricing Psychology Company Competitor Dynamic Objective Competitor response Differing methods Sale away profits and clients Differentiate
12. Price Concept 9: Advertising allows a product to boost its price Consumer Pricing Psychology Company Competitor Dynamic Objective Competitor response Differing methods Sale away profits and clients Differentiate Ads
13. Price Concept 10: Price increases must not alienate customers Consumer Pricing Psychology Company Competitor Dynamic Objective Competitor response Differing methods Sale away profits and clients Differentiate Ads Increase price carefully!
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