9 Tips on Determining Price Sensitivity
One of the most important, albeit difficult, decisions of an association executive is determining price. Even a small difference can result in substantively more (or less) revenue and sales.
In his outstanding book titled Marketing Management, The Millennium Edition, marketing expert Philip Kotler outlined 9 factors influencing price sensitivity.
Understanding price sensitivity places a premium on understanding the competition, the buying process, and the uniqueness of your association’s products and services in the marketplace.