What can we learn about cheap lipstick & the economy?!
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Communication is key - elf Communicated price increases directly with customers through social media, not through any other outlets. They kept prices low on traditional items and launched higher-end items. (Lipstick remained $3) Behavioral Finance - People noticed low prices and round numbers more than numbers that end in 0.99! ELF’s round numbers make price increases more noticeable.
What can we learn about cheap lipstick & the economy?!
What can we learn about cheap lipstick & the…
What can we learn about cheap lipstick & the economy?!
Communication is key - elf Communicated price increases directly with customers through social media, not through any other outlets. They kept prices low on traditional items and launched higher-end items. (Lipstick remained $3) Behavioral Finance - People noticed low prices and round numbers more than numbers that end in 0.99! ELF’s round numbers make price increases more noticeable.