Behavioural pricing strategies and consumer purchase decisions in offline smartphone retailing: Evidence from primary survey

Le résumé fourni par la source

Behavioural pricing techniques have emerged as an effective tool of marketing strategy in order to impact the consumers’ purchasing decisions by influencing their perception of value than just through reduction in price. Though there has been a significant interest in the area of behavioural pricing, there is very little research work on the subject matter. In this study, the focus was on understanding the effect of behavioural pricing strategies on the consumers’ smart phone purchasing decisions from the perspective of discounts, reference price, price framing, cues, and willingness to pay, emotions, and purchase evaluation. The primary data were collected from a sample of 100 smart phone consumers in India using a structured questionnaire consisting of demographic details scenario based choice experiment, and Linkert Scale Statements. One Sample t-test was used to analyze the behavioural response and to determine pricing impacts. The findings reveal that discounts, reference pricing, and promotional framing significantly influence consumers' purchase evaluations and perceived value. Although limited time offers and discounts made via monetary discounting had considerable effects in boosting purchase intentions, price increases by themselves did not make any significant effect on increasing the willingness to pay. It is evident from the study that transparency in pricing boosts consumer confidence, while too many options lead to complicated decisions. Discount offers evoke good emotions that help boost consumer satisfaction and intelligent buying. Behavioural pricing techniques have been shown to be impacting consumer decision making in both cognitive and emotional ways.

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