In marketing, you often find the presentation of products as a bundle of benefits that the consumer obtains. What does this concept exactly mean and how can features be converted …
Monthly Archives
July 2018
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Key Pricing StrategiesPricing Basics
Role of Reference Prices in Pricing Decisions – Reference-based Pricing
by MaxReference pricing is a pricing strategy that uses a pre-defined reference point to set the price for a product. In the following, we will explore the role of reference prices …
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Market SegmentationMarketing Basics
Value-based Market Segmentation – Dividing the Market into Value Categories
by MaxMarket segmentation is one of the most important tasks in marketing. Particular attention should be paid to value-based market segmentation. Identifying subgroups in a market guides marketing and sales decision-making …
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Marketing Basics
Estimating Differentiation Value – Measuring Monetary and Psychological Value
by MaxValue-based pricing requires the estimation of the economic value of a good. For this, estimating differentiation value becomes important: to what extent does a product or service provide additional value …