With the use of psychological pricing, CardSmith also successfully adds more value to its products from the point of view of customers Since CardSmith has a number of different product ranges and product groups, the use of psychological pricing has been beneficial Using elements of premium prices in other product ranges has also allowed CardSmith to maintain significantly high profits and a consistent business growth Premium prices add a touch of privilege and high value in CardSmith products This, in turn, leads to a perception g luxury in consumption products With premium prices, CardSmith has successfully also made some of its product ranges exclusive by restricting sales and production. Premium pricing for products also encourages a favorable quality perception of CardSmith products amongst consumers The marketing mix CardSmith uses a combination of a number of techniques for pricing its products, which are detailed below:īy using premium pricing for some of its product ranges, CardSmith encourages favorable brand and product perceptions in target consumer groups Through the production of different SKUs, CardSmith has also increased the trial rateĭifferent SKUs have also helped CardSmith improve its product accessibilityĬardSmith marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products.
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