Behavioral Pricing
Published on 16. November 2007
73 pages
978-1-84663-719-3 (ISBN)
Description
The practice of pricing is undergoing constant change. The brand manager's decision process on what price to charge has evolved over the years, and has become an increasingly complicated task. While pricing decisions were often guided by cost, the competitive nature of markets and the increasing complexity of consumer psychology have shifted pricing practice into an arena where factors other than cost determine optimal prices. The papers included in this e-book reflect the underlying theme that price setting practices by brand managers need to integrate the knowledge of consumers' psychological responses to prices. Three general themes are evident in these papers; the strategic aspect of pricing; promotional pricing; and how the human cognitive system can create biased responses to prices.
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Content
- Cover
- Contents
- Guest editorial
- Value-informed pricing in its organizational context: literature review, conceptual framework, and directions for future research
- An integrated model of price, satisfaction and loyalty: an empirical analysis in the service sector
- The effectiveness of "scratch and save" promotions: the moderating roles of price consciousness and expected savings
- Will you care when you pay more? The negative side of targeted promotions
- Bundles = discount? Revisiting complex theories of bundle effects
- The effects of digit-direction on eye movement bias and price-rounding behavior
