10. Communicating prices – creating positive perceptions
Price communications are normally deal-focused. New low prices are broadcast. Starbursts in advertisements promise higher discounts and price is highlighted as the reason to buy. Marketing Magazine provides a monthly analysis of UK consumer recall of advertisements, known as Presswatch. This chart is often topped by a price-led advertiser. An example comes from the white goods retailer Currys, which is rarely out of the top five. Press adverts by Currys have a consistent formula: busy with numerous small illustrations of products overlaid with prices and savings, offers of extended credit and time-limited exclusive offers.
This simple strategy suits price-led discounters. But it puts pressure ...
Get Smarter Pricing: How to capture more value in your market now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
