What does it mean that a business or skilled person is using sentiments to price their products or services?

[Trush Jodie]

I have heard that some business persons and skilled people always use sentiments to price their products and services.

Can someone explain to me the possible sentiments that a business person can use to price their products or services. And how can they rise above such sentiments?

 

[Kross]

When a business sells below the true worth of their products because of maybe relationship with a particular patron, that is sentiment.

 

[King Belieal]

When a business person feels indebted to a person or a family member and sales at any proposed amount, that is sentiments and is detrimental to the business.

 

[eLdavis]

I believe it means they tend to study the customers and charge them based on if they believe the customer is loaded or not, not based on the actual value.

 

[Kross]

I believe it means they tend to study the customers and charge them based on if they believe the customer is loaded or not, not based on the actual value.

That reflects another angle to it. It is important for a business person to determine the actual range of pricing for his products and sell to every customer at that price.

 

[Augusta]

Customer sentiment analysis is the process of identifying and interpreting how customers feel about a product, service, or brand.

 

[kit_hung]

When a business sells below the true worth of their products because of maybe relationship with a particular patron, that is sentiment.

This is called sentiment in business because a company sells its products below the actual value because of a certain relationship with a customer. Even if they lose a little money they see it as an investment in maintaining trust and goodwill. This is an example of how emotions and relationships enter into business and affect financial decisions.

 

[Augusta]

It is when one is not looking at the value of what they are buying but it is more about their emotions at that time

 

[kit_hung]

It is when one is not looking at the value of what they are buying but it is more about their emotions at that time

What you are describing is called emotional buying or impulse buying. Happens when a person makes a decision to buy something based on their current emotions rather than its intrinsic value.

 

[Augusta]

What you are describing is called emotional buying or impulse buying. Happens when a person makes a decision to buy something based on their current emotions rather than its intrinsic value.

My point exactly. It is when you buy things because you just fancy them and have the money too not because they are of value.

 

[wisdom01]

That's like emotional pricing! They're tapping into customers' feelings, values, and experiences to set prices – it's psychology, not just math. I'm watching out for it, and you should too!