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The influence of price endings on consumer behavior: An application of the psychology of perception

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dc.title The influence of price endings on consumer behavior: An application of the psychology of perception en
dc.contributor.author Asamoah, Emmanuel Selase
dc.contributor.author Chovancová, Miloslava
dc.relation.ispartof Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
dc.identifier.issn 1211-8516 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2011
utb.relation.volume 59
utb.relation.issue 7
dc.citation.spage 29
dc.citation.epage 38
dc.type article
dc.language.iso en
dc.publisher Mendelova zemědělská a lesnická univerzita v Brně cs
dc.publisher Mendel University of Agriculture and Forestry Brno en
dc.identifier.doi 10.11118/actaun201159070029
dc.relation.uri https://acta.mendelu.cz/artkey/acu-201107-0003_the-influence-of-price-endings-on-consumer-behaviour-an-application-of-the-psychology-of-perception.php
dc.relation.uri https://acta.mendelu.cz/pdfs/acu/2011/07/03.pdf
dc.subject Consumer behaviour en
dc.subject Perception en
dc.subject Price en
dc.subject Price ending en
dc.subject Psychology en
dc.description.abstract Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets. Also, an exploratory study was conducted to identify the prevalence of odd prices in the Czech retail sector. The exploratory study was based on 16 different home-drop advertising material, short magazines and leaflets by retails shops in the Zlín region. These leaflets, short magazines and home-drop advertising material were collected and analyzed over 3 month period to identify the dominance of odd and even pricing strategy (total number of advertisements = 922). Also, in order to have a comprehensive coverage of the odd-even pricing phenomenon, opinions of some buyers were sought on their perception of odd-pricing and how the odd-pricing influence their buying decisions. Opinions of a total of 173 shoppers were sampled. The study found clear evidence of the predominant use and preference by shoppers for odd prices compared to even prices in different product categories, especially fast moving consumer goods. The paper concludes by providing the marketing implications and suggestions on when odd and even price ending strategies should be used and for what category of products this strategy can be used. Also, the implications of price endings on marketing communication are highlighted. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1002759
utb.identifier.rivid RIV/70883521:28120/11:43866677!RIV12-MSM-28120___
utb.identifier.obdid 43866811
utb.identifier.scopus 2-s2.0-84857024491
utb.source j-scopus
dc.date.accessioned 2012-03-19T11:41:57Z
dc.date.available 2012-03-19T11:41:57Z
dc.rights Attribution-NonCommercial-NoDerivs 4.0 Unported
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.access openAccess
utb.contributor.internalauthor Asamoah, Emmanuel Selase
utb.contributor.internalauthor Chovancová, Miloslava
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