Know-How Exchange : Student Questions

The American Marketing Association's web site (https://www.marketingpower.com/live/mg-dictionary-view3426.php) has a dictionary, which defines Weber's Law as "This states that product purchasers and users are more interested in the relative differences between products than in the absolute characteristics of products standing alone. "

If , as per the link from Peter above, Weber's law states that product purchasers and users are more interested in the relative differences between products than in the absolute characteristics of products standing alone...

Then a timely example would be the US Presidential campaign, and here is a quick MarketingProfs thread on the subject:

https://www.marketingprofs.com/ea/qst_question.asp?qstID=3241

Hi lyndseed21

yes you are right with your price example.

aprat from Zahid's Fiat Uno example let me give you a small scale example(u know cars are big and costs big ;))

a 90gm LUX soap is price is Tk. 14* in my native country and this brand enjoys leadership in the market. if the price is increased to Tk. 14.50 or Tk. 15 per soap, the impact of noticing price hike by general consumers will be relatively far less than had the price been hiked to Tk. 18 or something like that.

I am not entirely sure but IMHO, another example of this Weber's Law (in a reverse way) is the pricing done by BATA, the canadian shoe MNC. the list price of all its products have some cents less than a full figure. a pair of shoe costs $39.95, that gives the consumer the impression of not spending $40. here again the $39.95 price is less noticable than $40 price.

hope this helps. The experts will be able to tell whether i am write.

cheers!!