What is price sensitivity
The price sensitivity is the concern of a particular group
about the price. The one group may be sensitive than other group. The price
sensitivity varies group to group. Price sensitivity is very important concept
for price setting for a segment of market.
Penetration strategy of price is followed in price sensitive
segment i.e. charging low price at the launch of product and skimming price strategy
may followed for less price sensitive segment i.e. charging high price at the launch
of product.
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