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15 cards from this deck
Crucial - impacts quality perception, profit & demand
Sends signals about what to expect from product/service
As an indicator of quality
Better quality, craftsmanship, or enhanced features
Can significantly influence demand
Customers may switch to alternatives
Branded products command higher prices
High prices for exclusivity, quality or prestige
Setting prices based on competitors' average market price
Encourage trial, gain market share, clear stock
Customers must perceive sufficiently high value
Not linear - need optimal balance of price & volume
Lower prices to attract price-conscious customers
Low prices to attract customers from competitors
Higher in peak periods, lower in quiet times
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