How do consumers process and evaluate prices?
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The document discusses how consumers evaluate prices based on prior knowledge, online sources, and communications, while highlighting the role of reference prices in their decision-making. It mentions the interaction between price and quality perceptions, particularly in the context of cars. Additionally, it touches upon the psychological effects of pricing strategies, such as price endings.
How do consumers process and evaluate prices?
- 1. It costs ₹300 only Ma’am But.. But.. I thought it was only ₹180/-
- 2. Too Less!! Too High!! HOW DO CONSUMERS PROCESS AND EVALUATE PRICE?
- 3. CONSUMERS INTERPRET PRICES Prior Knowledge Online Sources Formal Communications Informal Communications
- 4. REFERENCE PRICES People compare original prices with reference prices while buying!!
- 5. PRICE – QUALITY INFERENCE Price and Quality perceptions of Cars Interact!!
- 6. PRICE ENDINGS 400₹ vs 399₹ Source: www.acrwebsite.org
- 7. - Cynthia Kocialski Find Your Pricing Edge, Attract More Customers, and Earn More Profit “
- 8. THANK YOU
Editor's Notes
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