Gaining Customer Satisfaction by Price Strategies

1500 Words6 Pages
Introduction. Business is one of the oldest exercises in humans' life, it was very simple in the past, there was no money, and therefore, people used to exchange goods. They were sacrificing unnecessary stuff in order to get goods that have greater value or needs. Nevertheless, modernisation has changed that kind of trade by increasing the value of money, so people could use it to buy these stuff rather than exchanging goods to have it. Nowadays, business contains a huge number of sections such as accounting, human resources, manufacturing and marketing. One of the most important sections in business is marketing. It has been defined as the processes to deliver a product from the producers to the consumers. Marketing is plying a very important role in the cycle of business, the specifications of a product are based on information provided by marketing researches. In addition, this information also used to set an appropriate price for this product, and to choose the best place to selling it and to promote for it. However, customers are the main point of the existence of any company. Wherefore, the producers must know what could satisfy those customers. The factors of product's cycle are always under the control of the producers except the behavior of customers who must be satisfied, otherwise the cycle of their products will not be completed. Regarding to the continuation of the companies, it is important for the producers to satisfied customers. One of the effective ways to achieve that is by using price strategies to gain customer satisfaction. Money has strong effect on people because it is easy to measure wither the product worth the price or not. Consequently, producers could use price strategies ... ... middle of paper ... ...evertheless, the thesis of this paper, which is using price strategies could lead to satisfied customer, has been supported by the previous researches. However, further research would be important, due to the small number of researches which have concentrated on the role of price to gain customer satisfaction. Works Cited Glenn B. Voss, A. Parasuraman, & Dhruv Grewal. (1998). The Roles of Price, Performance, and Expectations in Determining Satisfaction in Service Exchanges. The Journal of Marketing, 62 (4), 46-61. Martin-Consuegra, B. Molina, A. & Esteban, A. (2007). An integrated model of price, satisfaction and loyalty: an empirical analysis in the service sector. Journal of Product & Brand Management, 16 (7), 459-468. McWilliams, B. and Gerstner, E. 2006, "Offering low price guarantees to improve customer retention". Journal of Retailing, 82(2), 105-113.
Open Document