Marketing Explained

The term psychological pricing refers to the use of an understanding of consumer thought processes to determine appropriate prices for products. How do psychological pricing strategies work – and what…

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…

Reference 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…

Market 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…

Value-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…

Value-based pricing is, as the name suggests, based on the value a good provides to a customer. The value at the heart of pricing strategy is economic value (or exchange value), not…

The term value commonly refers to the overall satisfaction that a customer derives from using a product or service. Economists call this use value—the utility gained from the use of…

While traditional organizations remain the norm, a relatively new phenomenon, the virtual organization, has arisen as an additional form of doing business. What is meant by the term virtual organization…

Marketing is an incredibly fast changing world. Therefore, it is often difficult to keep track of current literature and marketing must-reads. We would like to point out some of these…