Some characteristics of pricing are:
- Pricing sets clear price levels so buyers evaluate the product’s overall value.
- It assigns a definite monetary value so buyers form realistic price expectations.
- It signals the product’s market position so buyers compare available options effectively.
- It controls essential revenue outcomes so buyers judge the fairness of the listed price.
- It shapes the firm’s competitive stance so buyers decide the product’s overall suitability.
- It influences customer purchase timing so buyers decide when it is most favourable to buy.
- It aligns selling prices with cost structures so buyers recognise the economic basis behind the offering.
- It applies psychological price cues so buyers respond according to perceived attractiveness.
- It adjusts price levels across distribution channels so buyers understand the value differences among outlets.