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Pricing Perception (PowerPoint PPTX)
PowerPoint (PPTX) 24 Slides FlevyPro Document
DESCRIPTION
Price Wars have broken out in consumer industries around the world. In fact, retailers such as ALDI, Amazon, and Walmart have used price to position themselves against traditional competitors in the market, pinching margins all around. Prices are being reduced because of the belief that this will boost their perceived value to consumers, who implicitly weigh price against product features and benefits in their purchase decisions.
With the pressure to reduce prices intensifies, companies are acting hastily and when decisions are made on pricing, the question now is do customers notice. Often the result is customers do not notice these things. What ultimately matters is how customers perceive the price point.
Organizations need to map a path to improved perception. The Price Perception framework presents 4 strategies and 15 tactics that can help businesses get more credit from consumers.
1. Offer Low Prices
2. Provide Savings and Deals
3. Promote Prices
4. Tailor the Customer Experience
Having a good understanding of Price Perception will allow businesses to make better decisions when it comes to pricing and gaining deeper grasp of its current price position vs. consumers' perceptions.
This deck also includes slide templates for you to use in your own business presentations.
The PPT delves into the nuances of consumer perception versus reality, highlighting how discrepancies can impact a retailer's pricing strategy. It includes case studies and surveys from major retail chains, providing empirical data to back up the strategies discussed. The framework is comprehensive, covering various tactics from in-store signage to loyalty programs, ensuring that businesses can tailor their approach to their specific market. This deck is a must-have for any executive looking to refine their pricing strategy and gain a competitive edge in the market.
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Source: Best Practices in Customer Experience, Pricing Strategy PowerPoint Slides: Pricing Perception PowerPoint (PPTX) Presentation, LearnPPT Consulting
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