Topic > Psychographic Analysis of Cruisers' Hierarchy of Needs

Price can sometimes be an indicator of quality with a higher price indicating higher quality (Mowen & Minor, 1998). Consumers perceive that a higher price can be attributed to the higher cost of quality control. Some consumers are highly price sensitive (elastic demand), so a high price can move consumers toward competitive brands (Mowen & Minor, 1998). Therefore, price can have a positive or negative influence on customers. To achieve success, they must use a “customer-centric” strategy, personalizing and delivering products to specific people. But above all, speed and change must be a constant in marketing planning, because people make up markets. Change is the constant. Only by incorporating this can a company gain and sustain a competitive advantage. From now on we will provide examples of companies that are leading the way in terms of customer satisfaction