Non-Monetary Price

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MONASH Marketing DictionaryDownload this dictionary
Non-Monetary Price
that which it costs a consumer, other than money, to buy a product; the non-monetary price of purchasing a product includes the time devoted to shopping for it and the risk taken that it will deliver the expected benefits. Non-monetary price is an important concept in social marketing - for example, the price of avoiding the cancellation of a driverís licence is the abstinence from alcohol if driving.

2004 (c) Copyright & Reprint Courtesy of the Dept. of Marketing, Faculty of Business and Economics, Monash University; edited by Mr. Don Bradmore.

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