Pricing and Pricing Strategies

Sort elements

• Utility derived from the product is enhanced or decreased owing to the fact that others are purchasing and consuming the same product, or owing to the fact that the product bears a higher rather than a lower price tag.
• The extent to which the demand for a product is increased due to the fact that others are also consuming the same product (e.g., in order to conform with the people they wish to be associated with).
• The extent to which the demand for a consumer good is decreased owing to the fact that others are also consuming the same product (e.g., the desire to be exclusive).
• The extent to which the demand for a product is increased because it bears a higher rather than a lower price.