Publications
"Customer-centred Pricing Strategy"
Vocatus’ Quarterly Customer Magazin - Issue June 2008
Content:
Customer-centred Pricing Strategy
Classic pricing research methods are based on the assumption that people decide rationally and in a similar way in every sector. Nevertheless, a new pricing study conducted by Vocatus in six sectors and sixteen countries demonstrates that, depending on the product, people deal quite differently with the issue of price. Pricing psychology yields a total of five different consumer types who must accordingly be addressed in different ways.
Page 1
One Price, Five Meanings
Contrary to previous assumptions, the rational consumer remains an unfounded rumor. One is far likelier to encounter Discount Hunters, Loss Avoiders, Comparison Avoiding Loyals, Price Indifferents, or Dynamic Price Accepters.
Page 3
Consequences for Strategic and Tactical Pricing
Different consumer types require different pricing strategies. In addition to the pricing structure, this affects communication and the PoS strategy.
Page 5