Description may include
- appeals to a person's self-image (e.g., prestige, willingness to pay higher price for name-brand goods)
- sense of thrift (e.g., quantity pricing, odd-even pricing)
- buyer values (e.g., willingness to pay higher prices for natural, organic, environmentally friendly, sustainable, or ethically sourced products)
- cause-related marketing and its effect on pricing.
Process/Skill Questions:
- What is the difference between rational and emotional buying motives?
- How might a fashion marketer appeal to a customer’s emotional buying behavior? How might they appeal to a customer’s rational buying behavior?
- What role does ethics play in setting prices?
- How might psychological factors affecting pricing vary according to customer gender? Customer age?
- How do fashion seasons affect pricing of fashion items?