The Influence Of Product Pricing

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In the recent time, things have changed, the consumers are now sophisticated, which has shifted the focus of the companies on developing the product that can cater to the taste buds of the consumers. The flavour and texture of the drink needs to be familiar and satisfying to the end user. Different technologies for flavour-texture interactions are used by the companies to meet the budding demand of the consumers.
5. Product Packaging:
Packaging is an important and significant factor which affects the consumer buying behaviour. Packaging is an important attribute of marketing mix, plays an important role in developing product pricing, specific characters of new products and in promotional campaigns. Packaging also has direct relation to on shelf availability and advertising of product. It shows the level of creativity, innovation, modernism, cutting-edge qualities the brand might possess.
Packaging can support a brand to position itself in minds of consumer and in the market place. Attractive packaging shape and other aesthetics attributes can make a brand unique, differentiate and can create an iconic brand image. The size of the pack and quantity can have direct impact on the sales volume and on shelf availability of a product.
Labelling done on packaging of the …show more content…

Allender and Timothy J. Richards, Sep 2012). Planning of Promotion strategies depends on two factors: Reduction in the price of a product and its associate deviation from the prevalent market price, and degree of promotion frequency (William J. Allender and Timothy J. Richards, Sep 2012). These methods will help identify how many customers can be swayed to a different brand by reducing the price of the product and how many customers remain brand loyal. Even in cases of healthy drinks, it is possible that consumers might go for a healthy drink product offered by a brand to which they are

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