Perceptions of Price

 Just like quality, price is a matter of perception. If anyone asks ÿou a question "Ïs this product/service good value?" It's difficult to answer it right away. Also, my answer may be different from yours.

The reason being that I have a certain value I attach to a product, based on my situation, and my view/attitude towards a product (I am loosely using the term product- could be a service, something you pay for). When hungry, a plate of food has immense value for anyone, but in other situations, each person may determine the value for himself, and be willing to pay (or not pay) a certain price as per his evaluation. Rational as well as intangible features influence this, as does peer influence or other social factors. Apart from affordability, of course.

Determining what is the perception regarding price among a set of consumers is a challenge for marketers. If done right, it leads to a profitable business; if not, may mean you have to tweak the price, or the product/itself to make it desirable or of adequate value.

Lalithaa Jewellery- Advertising Strategy

 The biggest thing to hit Hyderabad, it seems, is a bald guy trying to persuade people to buy jewellery at a store called Lalithaa Jewellery. The pic above shows him. These hoardings are all over the city, and you can't miss them. The shot below is of the huge store at the Somajiguda junction. Great advertising, which urges consumers to take an estimate for any piece of jewellery along with a pic of the same, and go compare prices at a few OTHER stores..and buy wherever they find the best value/price. Giving celebrity ads a run for their money.

Skyrocketing Becomes Expensive

Those who used to be high-fliers will soon be grounded. The price of petrol will actually be the only thing which can go skyrocketing, not the people who use the stuff as fuel to get themselves going. So you are not going anywhere anytime soon.

Environmentally, this may not be such a bad thing. There may be less vehicular pollution, and there may be a few more people who walk to save money. Breathing petrol fumes is not much fun anyway. Hopefully, it will stir people into researching alternative fuels and ways of going from place A to Place B. A good joke I read on Facebook the other day says poor people walk miles to find food and rich people walk miles to digest food.

All in all, a good move that might save us from bankruptcy, and bad health. Cheers!