Let’s start by examining the world of marketing! What is it, what does it consist of, and how are the different components used? Marketing Explained helps you to grasp the whole context and content of marketing.
Marketing Explained
What is going on in consumers’ minds, individually, when they decide whether or not to buy—or, in the case of a not-for-profit consumer, acquire—a particular offering? In this article, we…
According to the National Center for Charitable Statistics (NCCS), more than 1.5 million nonprofit organizations are registered in the United States alone. Their increasing importance and role in international markets…
- Marketing Explained
Overview of Pricing Strategies – Finding the right pricing strategy for your products
Various pricing approaches and strategies are available to the marketer. How do you find the right pricing strategy for your products? At first, it is essential to get an overview…
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…