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What is psychological pricing?
Psychological pricing is a strategic approach used by businesses to influence consumer perceptions and behaviour by leveraging psychological principles in setting prices. This technique taps
Why do retailers run promotions?
Retailers employ promotional strategies for various reasons, aiming to achieve multiple objectives that contribute to their overall business success.
Why do exclusive offers alienate shoppers?
Exclusive offers may create excitement and a sense of privilege among certain shoppers, however these also alienate shoppers and need to be used with caution.
Which price promotions offer greatest shopper satisfaction?
Price promotions can vary in their impact on shopper satisfaction as different promotions cater to different consumer preferences and behaviours.
Driving incremental revenue through adjacent or complementary categories.
Primary and adjacent categories are integral concepts in business strategy, particularly in retail and product development, defining a company’s market positioning and expansion strategies.
Key considerations for pricing strategy.
An effective pricing strategy considers market dynamics, competitors, value perception, cost structures, shopper and consumer behaviour.