Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice.
25 topics found for
“profitability”
Customer Attrition
The loss of customers over a specific period, also known as customer churn.
CRM
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers.
Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty.
RFM
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior.
Retention
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate.