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Pricing Strategy For Digital Products

Author

Listed:
  • MARIA MAGDALENA CRIVEANU

    (UNIVERSITY OF CRAIOVA, CRAIOVA, ROMANIA)

  • DANIELA VICTORIA POPESCU

    (UNIVERSITY OF CRAIOVA, CRAIOVA, ROMANIA)

Abstract

The current society imposes an alert pace on companies that need to adapt to change, become more flexible and adopt new strategies to maintain market share. Digital marketing is a useful tool for promoting products, as customers can access a range of product information at any time and from anywhere. At the same time, another advantage on the part of companies is the lower promotion costs as compared to traditional promotional methods, as well as the establishment of a connection and a communication bridge with each client. The most important component in the process of purchasing a product is inevitably the price. It communicates a series of information about the product and the customer so that the price can be an important element of persuasion in relation to other marketing strategies. Most of the time, the smallest price is the most important factor in making a decision about buying a product, and digital marketing offers the posibility to compare prices. In this sense, digital marketing can provide both an advantage and a disadvantage for traders, as the small price may invalidate other marketing strategies or product features. In this sense, pricing is a challenge for marketing departments because the pricing strategy is deferring from the sterile formula of pricing which meant covering costs and making profit. This paper aims to analyze the extent to which price is an important element in purchasing a product, as well as highlighting a variety of methods and techniques used in pricing. Quantitative research is based on a questionnaire applied to 100 respondents in order to identify the correct pricing strategy. Research results communicate an important message to merchants who have to adjust the price of each buyer individually, so that the buyer profile is particularly important in setting the price.

Suggested Citation

  • Maria Magdalena Criveanu & Daniela Victoria Popescu, 2018. "Pricing Strategy For Digital Products," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 26-31, February.
    • Handle: RePEc:cbu:jrnlec:y:2018:v:1:p:26-31
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    References listed on IDEAS

    as
    1. Nicu Marcu & Georgeta-Mădălina Meghişan, 2013. "Some hypotheses regarding the mobile telecommunications services marketing and consumers rights from Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(34), pages 358-368, June.
    2. Assoc. Prof. Adriana Scriosteanu Ph. D. & Prof. Daniela Popescu Ph. D., 2010. "Customer Loyalty - The Major Goal Of Customer Relationship Management," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(38), pages 1-7, May.
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    Cited by:

    1. Cătălin Mihail Barbu & Anca Floriana Păunescu & Oprea Valentin Busu, 2019. "Promoting Social Innovation Using Marketing And Communication Tools," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(47), pages 42-52, December.

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