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Price in Marketing Mix for Rural Marketing

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Abhijeet S
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Price in Marketing Mix for Rural Marketing - October 1st, 2010

Price in Marketing Mix for Rural Marketing


1. PRICING FOR QUALITY CONSCIOUS CUSTOMERS:
These customers are basically concerned with functional benefits and value-for-money. If a marketer wants to develop an effective pricing strategy for these customers he must know whether the price quality relationship holds good for the market.


Six propositions emerge which are applicable to rural market as well as urban market.


a. Quality Differences: Larger the perceived difference quality of brands in a category, the price quality relationship is stronger. E.g. home appliances.


b. Quality Uncertainty: Greater the uncertainty involved in judging the quality of product, stronger the price quality relationship.


c. Price Consciousness: Higher the price consciousness of the consumer and more price variations within a particular category of product, the price quality relationship is stronger. Therefore companies create a hierarchy of products establishing price quality relationship.


d. Need Compulsion: Certain products that fulfill certain needs will have a strong price quality relationship. For e.g. a reputed doctor or lawyer would charge premium rates for their services because their services are viewed essential.


e. Place Availability: Price quality relationship is stronger for the brands sold to the premium market within the same product category.


f. Social Consciousness: Shoes and shirts that are publicly consumed products have a strong price quality relationship than privately consumed products like tooth powder and underwear.
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Jitendra Mazee
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Re: Price in Marketing Mix for Rural Marketing - January 20th, 2018

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Originally Posted by abhishreshthaa View Post
Price in Marketing Mix for Rural Marketing


1. PRICING FOR QUALITY CONSCIOUS CUSTOMERS:
These customers are basically concerned with functional benefits and value-for-money. If a marketer wants to develop an effective pricing strategy for these customers he must know whether the price quality relationship holds good for the market.


Six propositions emerge which are applicable to rural market as well as urban market.


a. Quality Differences: Larger the perceived difference quality of brands in a category, the price quality relationship is stronger. E.g. home appliances.


b. Quality Uncertainty: Greater the uncertainty involved in judging the quality of product, stronger the price quality relationship.


c. Price Consciousness: Higher the price consciousness of the consumer and more price variations within a particular category of product, the price quality relationship is stronger. Therefore companies create a hierarchy of products establishing price quality relationship.


d. Need Compulsion: Certain products that fulfill certain needs will have a strong price quality relationship. For e.g. a reputed doctor or lawyer would charge premium rates for their services because their services are viewed essential.


e. Place Availability: Price quality relationship is stronger for the brands sold to the premium market within the same product category.


f. Social Consciousness: Shoes and shirts that are publicly consumed products have a strong price quality relationship than privately consumed products like tooth powder and underwear.
Hey friend, thanks for your contribution and providing the report on Price in Marketing Mix for Rural Marketing which would really help many students and professionals. BTW, I am also going to share a document on Price in Marketing Mix for Rural Marketing for helping others.
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