Price sensitivity significantly influences promotional strategies. If customers are highly sensitive to price changes, businesses may use promotional strategies such as discounts, sales, or special offers to attract customers and stimulate sales. On the other hand, if customers are less sensitive to price, businesses might focus more on promoting the quality, features, or benefits of their products or services. Understanding price sensitivity can help businesses tailor their promotional strategies to meet their customers' needs and preferences, and ultimately drive sales and profitability.
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