Product Packaging as Tool to Demand a Price Premium: Does Packaging Enhance Consumers‘ Value Perception to Justify a Price Premium PDF Download
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Author: Christoph Breetz
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954892324
Category : Business & Economics
Languages : en
Pages : 65
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Book Description
This study addresses the question of the impact of packaging to demand a price premium leveraging the example of retailer brand premium products in the food segment in Germany. Product tiering is a pricing structure that is commonly used by producers, in which consumers are segmented by willingness to pay for specific (added) product benefits. This is a way of maximizing utility for both consumers and producers, and is commonly already leveraged by producers of branded products, but lately also by retailer brands, especially to enable growth outside the value tier. This research uses a survey across grocery purchase decision makers in Germany to identify the relationship of packaging and willingness to pay across a sample of retailer brand Tier 1, Tier 2 and Tier 3 products as well as a branded product in four different grocery categories. The intent is to answer whether i) packaging currently justifies the premium price of retailer brand tier 1 products compared to other product tiers, ii) packaging justifies the tier 1 retailer brand price premium, and iii) demographics influence the willingness to pay a premium price.
Author: Christoph Breetz
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954892324
Category : Business & Economics
Languages : en
Pages : 65
Get Book Here
Book Description
This study addresses the question of the impact of packaging to demand a price premium leveraging the example of retailer brand premium products in the food segment in Germany. Product tiering is a pricing structure that is commonly used by producers, in which consumers are segmented by willingness to pay for specific (added) product benefits. This is a way of maximizing utility for both consumers and producers, and is commonly already leveraged by producers of branded products, but lately also by retailer brands, especially to enable growth outside the value tier. This research uses a survey across grocery purchase decision makers in Germany to identify the relationship of packaging and willingness to pay across a sample of retailer brand Tier 1, Tier 2 and Tier 3 products as well as a branded product in four different grocery categories. The intent is to answer whether i) packaging currently justifies the premium price of retailer brand tier 1 products compared to other product tiers, ii) packaging justifies the tier 1 retailer brand price premium, and iii) demographics influence the willingness to pay a premium price.
Author: Huda Khan
Publisher: Taylor & Francis
ISBN: 1000637689
Category : Design
Languages : en
Pages : 141
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Book Description
The consumer packaged goods (CPG) industry is dominated by major Western brands. The dominance of such major brands extends to burgeoning Asian markets. These conglomerates often rely on packaging as a strategic tool to entice Asian consumers. This book illustrates how packaging as a marketing tool is more than simply changing the label or translating the brand into vernacular language. It examines how different packaging elements (e.g. information, imagery, packaging type) can help to communicate product values to Asian consumers. Drawing upon rich knowledge of the Asian CPG markets with extensive findings from fieldworks in the key Asian markets, this book explains how Western brands are localising their packaging design in Asian markets. It provides invaluable insight into how major Western CPG brands have relied heavily on their packaging strategies to compete not only against domestic brands but also against other foreign brands. The book includes in-depth interviews with brand managers of several major Western CPG brands and retailers, and sheds light on emerging trends of CPG packaging in Asia.
Author: Leigh Caldwell
Publisher: Jaico Publishing House
ISBN: 8184957688
Category : Business & Economics
Languages : en
Pages : 170
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Book Description
How to Use Price to Increase Demand, Profit and Customer Satisfaction HOW SMART IS YOUR PRICING? For any business, deciding how much to charge for a product or service is crucial. By gaining an insight into the way consumers think and purchase, you can generate more demand, more customer value – and more profit. MAXIMISE REVENUE • How do unwanted products Influence what customers expect to pay? • How does offering extras for free dramatically increases Perceived Value? • Why does changing the timing of a payment make people pay 50% More? TRIED AND TESTED TECHNIQUES Written by the founder of Inon, a leading pricing consultancy, whose clients range from the BBC and Grant’s Whisky to Alzheimer’s Disease International and HM Treasury, The Psychology of Price provides an insight into the strategies used by multinational corporations. Leigh Caldwell is a pricing expert and leading researcher in behavioural economics, writing the UK’s most popular behavioural blog (www.knowingandmaking.com) and appearing as a frequent guest on BBC News. By background a mathematician and economist, he is the founder and chief executive of Inon, the UK’s leading pricing consultancy.
Author: Hal MacFie
Publisher: Elsevier
ISBN: 1845693388
Category : Technology & Engineering
Languages : en
Pages : 632
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Book Description
Consumer acceptance is the key to successful food products. It is vital, therefore, that product development strategies are consumer-led for food products to be well received. Consumer-led food product development presents an up-to-date review of the latest scientific research and methods in this important area.Part one gives the reader a general introduction to factors affecting consumer food choice. Chapters explore issues such as sensory perception, culture, ethics, attitudes towards innovation and psychobiological mechanisms. Part two analyses methods to understand consumers' food-related attitudes and how these methods can be effectively used, covering techniques such as means-end chains and the food-related lifestyle approach. The final part of the book addresses a wide variety of methods used for consumer-led product development. Opportunity identification, concept development, difference testing and preference trials are discussed, as well as the use of techniques such as just-about-right scales and partial least squares methods.Written by an array of international experts, Consumer-led food product development is an essential reference for product developers in the food industry. - Introduces the factors affecting consumer food choice - Explores issues such as sensory perception, culture and ethics - Analyses methods to understand food related attitudes
Author: Kenneth L. Smith
Publisher: Routledge
ISBN: 1135636532
Category : Art
Languages : en
Pages : 625
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Book Description
This Handbook of Visual Communication explores the key theoretical areas in visual communication, and presents the research methods utilized in exploring how people see and how visual communication occurs. With chapters contributed by many of the best-known and respected scholars in visual communication, this volume brings together significant and influential work in the visual communication discipline. The theory chapters included here define the twelve major theories in visual communication scholarship: aesthetics, perception, representation, visual rhetoric, cognition, semiotics, reception theory, narrative, media aesthetics, ethics, visual literacy, and cultural studies. Each of these theory chapters is followed by exemplar studies in the area, demonstrating the various methods used in visual communication research as well as the research approaches applicable for specific media types. The Handbook serves as an invaluable reference for visual communication theory as well as a useful resource book of research methods in the discipline. It defines the current state of theory and research in visual communication, and serves as a foundation for future scholarship and study. As such, it is required reading for scholars, researchers, and advanced students in visual communication, and it will be influential in other disciplines in which the visual component is key, including advertising, persuasion, and media studies. The volume will also be useful to practitioners seeking to understand the visual aspects of their media and the visual processes used by their audiences.
Author: Mccarthy E. Jerome
Publisher: McGraw-Hill/Irwin
ISBN: 9780256060485
Category :
Languages : en
Pages :
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Book Description
Author: Rafi Mohammed
Publisher: Harper Collins
ISBN: 0061985279
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices. The 1% Windfall reveals how modest incremental changes to an everyday business practice—pricing—can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%. The good news is that better pricing is more than simply raising prices. Instead, the key is to offer customers a variety of pricing options. This strategy is win-win: profits to companies and choices for consumers. But how do executives and managers set the right price? Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question. This book offers guidelines that any company—whether a multinational conglomerate, a small business, or even a nonprofit—can follow to create a comprehensive pricing strategy for any product or service. In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor. The result is a mind-opening, clear blueprint for com-panies to price for profit and growth.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 162
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Book Description
Backpacker brings the outdoors straight to the reader's doorstep, inspiring and enabling them to go more places and enjoy nature more often. The authority on active adventure, Backpacker is the world's first GPS-enabled magazine, and the only magazine whose editors personally test the hiking trails, camping gear, and survival tips they publish. Backpacker's Editors' Choice Awards, an industry honor recognizing design, feature and product innovation, has become the gold standard against which all other outdoor-industry awards are measured.
Author: Jacob Jacoby
Publisher: Lexington Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Author: Hermann Simon
Publisher: Springer
ISBN: 3319204009
Category : Business & Economics
Languages : en
Pages : 231
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Book Description
The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as an entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.
