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Reference Pricing How Effectiv
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There is a psychological theory that states that people for perceptions based on present and past stimuli (Helson, 1964). This has been extended by marketing academics to include the concept of reference pricing. They do this by stating that consumers, based on their previous exposure to products ....
Middle of essay ....icing debate have emerged. Gijsbrechts (1993) takes a cognitive-based approach by saying he believes that it is important to examine three key areas. First, whether the reference price is a point or range. Second, determining how a consumer formulates the reference price (that is whether it is based on the highest, lowest median, etc.) and finally to examine how consumers store the reference price.
An opposing viewpoint takes the behaviorist's approach. These researchers (for example Kalramara.... |
Number of words: 2173 |
Approximate pages: 8 |
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