In this article we look at the formula for cost-plus pricing and provide example calculations, plus we provide a free cost-plus pricing Excel template for download.
Cost-Plus Pricing Formula with Examples Find Out More...
In this detailed article, internal and external reference prices are discussed and their implications for marketers.
What are Reference Prices in Marketing? Find Out More...
This article discusses a model that demonstrates the role of reference prices and how consumers use this information to inform and guide their purchase decisions.
A Model of Reference Prices Find Out More...
There is a direct relationship between these concepts, as internal reference prices are formed through continual exposure to external reference prices.
Relationship Between Internal and External Reference Prices Find Out More...
Reference prices are an important concept in marketing. Reference prices are the expected and acceptable price range that a consumer will pay for a particular product and/or brand. If a product is priced well above or well below the expected price range, then the consumer is unlikely to see value in the product and is unlikely to purchase
Why are Reference Prices Important? Find Out More...
Internal reference prices are a handy heuristics tool for consumers to allow them to make fast decisions, whereas external reference prices are more important in high involvement purchases.
Internal versus External Reference Prices Find Out More...
A reference price is the expected and acceptable price range that a consumer is willing to pay for a particular product and/or brand. There are two types of reference prices that marketers need to be aware of. These are: internal reference prices and external reference prices.
The Two Types of Reference Prices Find Out More...
This is a detailed step-by-step walk-through of how to create the BCG matrix in Excel 365. It also includes an instructional video.
How to Make the BCG Matrix in Excel 365 Find Out More...
The lexicographic decision rule is the simplest decision approach, as consumers are focused upon the most important individual product attribute to them and choose the product offering that best meets that one single attribute.
The Lexicographic Decision Rule Find Out More...
The elimination-by-aspects decision rule is a non-compensatory approach to decision-making for consumers. This decision rule works much like a knock-out competition. A consumer will work through the product attributes being considered one by one – starting with the most important product attribute to them.
The Elimination-by-Aspects Decision Rule Find Out More...
