The Impact of Retailer Price Strategy on Consumers' Choice Against the Background of Uncertain Price

DOI

10.2991/jahp-19.2019.31How to use a DOI?

Keywords

uncertain price; offline retailer; price strategy; consumers' choice

Abstract

Price is an important consideration in influencing consumer purchasing decisions, and consumers often fail to predict the price of a product they plan to purchase before entering an offline retail store. Therefore, the price strategy implemented by the retailer will influence the consumer's choice of the retailer. Based on the consumer's price perception and prospect theory, this study infers the conclusions of the retailer's price strategy on consumer choice under the uncertainty of price, and the respective conclusions are as follows: on one hand, in the case of uncertain prices, consumers will be more inclined to choose frequency discounting or retailers with everyday low pricing combined with occasional depth discounting. The order of choice is frequency discounting or everyday low pricing with occasional depth discounting retailers better than frequency discounting or everyday low pricing retailers, and finally is the occasional depth discounting retailers; on the other hand, when the price strategy of the retailer's larger discount is not correctly perceived by the consumer (underestimated), the chances of retailers being selected by the retailer with frequency discounting or everyday low pricing with occasional depth discounting strategies will not make a difference with retailer with frequency discounting or everyday low pricing, but still better than retailers with occasional depth discounting. According to the conclusion, relevant suggestions are proposed for offline retailers.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Li Pan
PY  - 2019/09
DA  - 2019/09
TI  - The Impact of Retailer Price Strategy on Consumers' Choice Against the Background of Uncertain Price
BT  - Proceedings of the 4th International Conference on Economy, Judicature, Administration and Humanitarian Projects (JAHP 2019)
PB  - Atlantis Press
SP  - 136
EP  - 138
SN  - 2352-5428
UR  - https://doi.org/10.2991/jahp-19.2019.31
DO  - 10.2991/jahp-19.2019.31
ID  - Pan2019/09
ER  -