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Psychological PricingPromotional Pricing

FatemaOishy
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  1. WELCOME TO THE PRESENTATION

  2. This presentation is from:MdMahabubAlom Presented by: FatemaTuzZohorOishy ID: 1747BBA03930

  3. The subject that we will discuss today is: Psychological Pricing Promotional Pricing

  4. PSYCHOLOGICAL PRICING Psychological pricing uses the customer's emotional response to encourage sales. By pricing products strategically, a company may increase sales without significantly reducing prices. In some cases, a higher price is actually more likely to increase sales.

  5. Benefits Of Psychological pricing The psychological pricing method helps you build an impression of your brand without making significant changes to the product. Simply revising your pricing structure can make your product suddenly seem like the best bargain on the market or elevate your luxury product to the top of the available options.

  6. Promotional Pricing Promotional pricing is also known as marketing price promotion or penetration pricing, is a cost setting strategy in consumer marketing. It involves reducing the price of a product or service temporarily to attract customers and develop loyalty for increased future revenue and profit.

  7. Temporarily pricing products below list price to increase short term sales through: Loss Leaders Special-Event Pricing Cash Rebates Low-Interest Financing Longer Warranties Free Merchandise Discounts

  8. Loss Leaders A business strategy in which a business offers a product or service at a price that is not profitable for the sake of offering another product/service at a greater profit or to attract new customers.

  9. Special-Event Pricing This is a special price set for a product, product range or service for a limited time frame and event.

  10. Cash Rebates Partial return for a purchase that is paid in actual currency.

  11. Low-Interest Financing Low-interest financing is a loan offered by the manufacturers captive finance company at a below-market interest rate.

  12. Longer Warranties When you make a major purchase, the manufacturer or seller makes an important promise to stand behind the product. It's called a warranty.

  13. Free Merchandise Free merchandise is the additional quantity of the merchandise given as consumer incentive. This is done to make consumers happy and increase sales and loyalty.

  14. Discounts In simple terms, Discount is an allowance or concession in price.

  15. THANK YOU

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