Price Sensitivity Measurement Depending on Brand Awareness: A Case of Ziede Brand

Abstract

Abstract The current research aims to present a new approach of the Price Sensitivity Measurement (PSM) to determine the optimal price depending on brand awareness. Based on the example of “Ziede” cosmetics, the authors extend the classic version of the PSM by differentiating the optimal price point taking into account brand awareness. The results of the study confirm that the obtained optimal price is different across customers that are brand-aware and those who are unaware. The optimal price assessed from brand-aware consumers maintains brand value the best and allows the producer to use the opportunities for additional profits

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