Higher consumption means higher sales. One of the methods of construct long-term relationships with customers is to get them to use or knock down the products or services they had purchased. The research shows that when the customers regularly used the products or services, the opening for them to repeat is higher than those who are not consuming their products regularly. utilization too helps to establish switching costs as well as important for the businesses that rely on two-part revenue stream. manipulation may also important to any business that relies on satisfaction to generate repeat sales and positive word-of-mouth. Then, be drive consumption. The sunk cost effect explained that the call forr will consume the products when they are aware with the cost.
The consumer will use the products or services when they feel they will waste their money if they didnt consume it. Pricing drives perceptions of cost. The research shows that much consumption is driven by the perceived costs kinda than actual cost. Consumers are also feeling more pressured to consume if they pay with cash rather than the credit cards.
Since the pricing has a powerful impact on consumption, companies must make a careful decision on when and how to charge the products or services. The Timing must be right. about companies demand payment at or near the epoch of the products to be consumed while other charge in promotion before the products of services is consumed. Companies decide the timing based on either financial considerations or demand...If you want to get a full essay, order it on our website: Ordercustompaper.com
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