Bobby is the marketing manager at a local department store. He is analyzing the social media profiles of consumers who have "liked" his store. He is looking to develop specific pricing tactics to reach different groups of consumers who have similar profiles. Bobby has broken down the store's consumers into eight social media profiles, and he is looking to match the best possible pricing tactic to each segment. social media profiles, and he is looking to match the best possible pricing tactic to each segment.
Social media is influencing the prices consumers see when buying products online. Some organizations offer different online prices based on social media profiles, what type of mobile device consumers use to access the site, and where consumers are located. However, marketers should be careful; studies suggest that over 75 percent of consumers say they would be bothered if they knew that someone paid a lower price for the same product.
For each market segment select the pricing tactic that would be most appealing.
1. "Like" expensive items, including luxury cars and exotic vacations
2. High-paying job, prefers ease of purchase, and prefers value3. Very tech-savvy and highly educated4. Lower income, looking for value5. "Fan" of StubHub and several online ticket retailers where prices change based on demand6. "Followers" of multiple retailers who offer online coupons and special price reductions7. "Followers" and "fans" of luxury brands, including Rolex, Starbucks, and Mercedes
8. Fans of local cable company where they "like" the package of tv, Internet, and home phone