preissensitiv

Preissensitiv, or price sensitivity, describes the extent to which price changes influence the quantity of a good or service that consumers are willing to buy. In economics it is closely related to the concept of price elasticity of demand. When demand is highly elastic, small price changes lead to large shifts in quantity; when it is inelastic, demand is less responsive.

Several factors shape price sensitivity. Income level and budget constraints; whether the item is a necessity or a luxury; the availability of substitutes; perceived value and quality; brand loyalty; and the degree of price transparency enabled by competition and online information. Time horizon also matters, with longer horizons allowing more substitution.

Price sensitivity is usually measured by elasticity coefficients, such as the price elasticity of demand. Methods to estimate it include historical demand data, experiments and price tests, surveys, and conjoint analysis. These approaches can be applied at the market, segment, or product level, and can consider cross-price effects.

Understanding price sensitivity informs pricing strategy and market segmentation. For highly price-sensitive segments, sellers often use promotions, discounts, coupons, and value bundles, or implement dynamic pricing and smaller-step price changes. Less price-sensitive customers may respond to quality signals, brand equity, or service differentiation.

Limitations exist: price sensitivity varies by product category, time frame, and context. Non-price attributes such as reliability, convenience, and after-sales support can offset price moves. Cross-cultural differences and market structure can also alter sensitivity to price changes.