Purchase intention influences purchase decision Hence, a person’s behavioral intention and decision to do or not do behavior is the direct and immediate determinant of the person’s actual behavior.
What is dynamic pricing strategy
Dynamic pricing, also called real-time pricing, is an approach to setting the cost for a product or service that is highly flexible.
The goal of dynamic pricing is to allow a company that sells goods or services over the Internet to adjust prices on the fly in response to market demands.
How does perception of quality affect price
Quality is one of the most important factors behind a decision to purchase any product.
Consumers have long assumed that price and quality are highly correlated, and that as the price of a product increases, its quality also increases (“you get what you pay for”).
What is the benefits of good customer service
Benefits of providing good customer service Customer satisfaction – happy customers will recommend the business to others through word of mouth or social media reviews.
This could increase the market share of the business. Satisfied customers are also less likely to leave a negative review.
What is the meaning of product quality
Product quality refers to how well a product satisfies customer needs, serves its purpose and meets industry standards.
When evaluating product quality, businesses consider several key factors, including whether a product solves a problem, works efficiently or suits customers’ purposes.
Are industrial products that aid in a buyer’s production or operations including installations and accessory equipment
Capital items are industrial products that aid in the buyer’s production or operations, including installations and accessory equipment.
What major factors can affect pricing decisions
Three important factors are whether the buyers perceive the product offers value, how many buyers there are, and how sensitive they are to changes in price.
In addition to gathering data on the size of markets, companies must try to determine how price sensitive customers are.
What are the four basic pricing strategies
What are the 4 major pricing strategies? Value-based, competition-based, cost-plus, and dynamic pricing are all models that are used frequently, depending on the industry and business model in question.
What is the best pricing strategy that you are going to use if you have a business
Value pricing is perhaps the most important pricing strategy of all. This takes into account how beneficial, high-quality, and important your customers believe your products or services to be.
How is market price determined
Market prices are dependent upon the interaction of demand and supply. An equilibrium price is a balance of demand and supply factors.
There is a tendency for prices to return to this equilibrium unless some characteristics of demand or supply change.
What is a base price
Definition of base price : the basic cost of something without adding anything extra Air-conditioning is included in the car’s base price.
References
https://www.forbes.com/sites/forbescommunicationscouncil/2018/05/29/the-one-marketing-truism-you-cannot-ignore-perception-is-reality/
https://blog.hubspot.com/sales/promotional-pricing
https://www.bbc.co.uk/bitesize/guides/z6scbdm/revision/4
https://smallbusiness.chron.com/impact-sales-promotions-61416.html
