Ketchup Essay

Ketchup, or catsup, is a table sauce. Traditionally, different recipes feature ketchup made of egg white, mushrooms, oysters, mussels, walnuts, or other foods, but in modern times the term without modification usually refers to tomato ketchup, called tomato sauce more commonly in Australia, New Zealand, and India and almost exclusively in South Africa. ("Tomato sauce" can also mean something more like Passata.) Ketchup is a sweet and tangy sauce, typically made from tomatoes, a sweetener, vinegar, and assorted seasonings and spices. Seasonings vary by recipe, but commonly include onions, allspice, cloves, cinnamon, garlic, and sometimes celery. Heinz tomato ketchup is the market leader, with an 82% market share in the UK and 60% share in the US.

Traditionally Price has been a major determinant of a buyers choice. Consumer Buying Psychology: Reference Prices: Consumers have fairly good idea of the price range of a product, but rarely do they recollect the exact price. When examining a product, consumers often employ Reference Prices, where the compare the observed price to an internal reference price. Price- Quality inferences: Many consumers use price as an indicator of quality. Some brands adopt exclusivity and scarcity as a means to signify uniqueness and justify premium pricing. For ex: Watches, perfumes etc. Price cues: Many sellers believe that prices should end in an odd number because for example: many customers see an amplifier priced 2999/- in the range of 2000/- rather than rounding it off to 3000/- But prices ending in 5 or 0 are easier for the customer to process and retrieve from memory. Also the sign of SALE next to a price is shown to spur demand if not over done. Even limited availability (3 days only) is seen to have spurred