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Author: Jun Yao Publisher: ISBN: Category : Languages : en Pages :
Book Description
Unit pricing refers to the display of an item's price per unit measure (e.g., per ounce). The present study experimentally investigates how the presence of unit price information affects consumers' grocery purchase decisions and shopping task perceptions in the common situation where prepackaged products are on offer under different brand names and in variable package sizes. Study 1 shows that when there is unit pricing, consumers adopt the unit price as a diagnostic cue for comparing the economic losses associated with the product options. This in turn shifts their choices towards the lower unit priced options. Unit pricing also improves their task perceptions. Study 2 shows that when consumers are under time pressure, unit pricing results in a greater number of choices for the products with the cheaper unit price and an increased use of unit prices, while there continues to be an enhancement in task perceptions regardless of the available time. It is concluded that unit price information improves shopping task perceptions, results in quicker shopping task completion, and in consumers being better able to find the offer that represents the best value for them. Based on the findings retailers are advised to endorse and provide unit pricing wherever possible.
Author: Jun Yao Publisher: ISBN: Category : Languages : en Pages :
Book Description
Unit pricing refers to the display of an item's price per unit measure (e.g., per ounce). The present study experimentally investigates how the presence of unit price information affects consumers' grocery purchase decisions and shopping task perceptions in the common situation where prepackaged products are on offer under different brand names and in variable package sizes. Study 1 shows that when there is unit pricing, consumers adopt the unit price as a diagnostic cue for comparing the economic losses associated with the product options. This in turn shifts their choices towards the lower unit priced options. Unit pricing also improves their task perceptions. Study 2 shows that when consumers are under time pressure, unit pricing results in a greater number of choices for the products with the cheaper unit price and an increased use of unit prices, while there continues to be an enhancement in task perceptions regardless of the available time. It is concluded that unit price information improves shopping task perceptions, results in quicker shopping task completion, and in consumers being better able to find the offer that represents the best value for them. Based on the findings retailers are advised to endorse and provide unit pricing wherever possible.
Author: Ragnhild Silkoset Publisher: Walter de Gruyter GmbH & Co KG ISBN: 3110987104 Category : Business & Economics Languages : en Pages : 168
Book Description
This book on pricing decisions gives practical guidance on how to identify customer value, estimating customers’ willingness to pay for these benefits, and on how psychology affects customers’ perception of prices in a market. This strategic view on pricing gives the reader a competitive advantage. It empowers them with means to plan and perform a pricing strategy based on their value propositions. The target group for this book is managers, entrepreneurs, and business students. The book guides students in understanding how economics, strategy, marketing, and psychology are combined when it comes to pricing decisions. Further, the chapters contain step-by-step procedures that help managers and entrepreneurs to succeed with complex pricing decisions in busy workdays. The analysis is based on the basic edition of Microsoft Excel software. In sum, the book helps the reader to strategically plan, execute, and win price competitions. The book covers topics such as dynamic pricing, estimation of customers willingness to pay, price competition and wars, customers’ reaction to unfair prices, and price tactics and strategy. The book includes specialized chapters on pricing in e-commerce, and pricing in the sharing economy.
Author: Simone Guercini Publisher: Edward Elgar Publishing ISBN: 1035312875 Category : Business & Economics Languages : en Pages : 185
Book Description
The ever-evolving marketing technologies now include the extensive use of advanced AI with important implications for the decision making processes of both marketers and consumers. This detailed and insightful book rigorously examines the role of heuristics and marketers’ decision making within the industry’s growing utilisation of AI.
Author: Nguyen Hoang Thuan Publisher: Springer Nature ISBN: 9819915457 Category : Business & Economics Languages : en Pages : 213
Book Description
This book documents the recent post-pandemic era business innovation research in Vietnam bringing together selected works from the 2022 ‘International Conference on Business Innovation: Business Innovation in a Post-pandemic World’ held at RMIT University in Vietnam. The book contributes to the body of knowledge in several ways. It serves as a comprehensive reference for business innovation research and promotes recent progress in business innovation applications in Vietnam and offers a shared understanding to help coordinate future research in the field.
Author: Betsy L. Close Publisher: ISBN: Category : Unit pricing Languages : en Pages : 160
Book Description
The purpose of this study was to identify the factors that influence the use and understanding of unit pricing. Furthermore, a comparison between a city with a mandated unit pricing program (Seattle, Washington) and a city with a voluntary unit pricing program (Portland, Oregon) was made. The intent was to see if there was more use or understanding of unit pricing in a mandated city. The relationship between the preference for a certain brand and use of unit pricing was also investigated. Weighted indexes were constructed for use in the computation of individual scores. This researcher cross-classified the variables of sex, income level, level of education, age, and store location with the variables of use scores and understanding scores on a measure of unit pricing. One hundred and twenty consumers (60 in Seattle and 60 in Portland) were interviewed in twelve selected stores. Stores were selected to represent various income tracts of each city. Data collected in this manner served as a base for this research. The data were analyzed with the use of analysis of variance (ANOVA), the Chi-Square Test of Independence, and the Pearson Product Moment test for correlation (r). The sample consisted of 120 consumers: 23 males (19%) and 97 females (81%) were interviewed. Thirty-one percent of the sample were 18-29 year olds. The majority of respondents were Caucasion (89%) and of middle income. For analysis purposes the researcher combined seven income groups into three categories. The categories and their proportions of the same were: 1) high income group (above $25,000 per year) 23 percent of the sample; 2) middle income group ($8,000 to $25,000 per year) 51 percent of the sample; and 3) low income group (below $8,000 per year) 18 percent of the sample. The majority of respondents had at least some college and were well educated. Hypotheses 1 and 2, relating to use and understanding of unit pricing between two cities, could not be rejected at the .05 level of significance. The tests did not reveal a difference between cities, nor a difference by stores within cities. For understanding of unit pricing, the data revealed a difference by stores within cities, but not a difference between cities. Hypotheses 3 through 12 related to use and understanding of unit pricing between two cities, for the combined samples. Scores for use and understanding were cross-tabulated with each of five variables: age, level of education, sex, income level, and store location. In both cases, scores were seen to be dependent on all variables except sex of the respondent. High use of unit pricing was displayed by college graduates who were 18-29 years old, and who were interviewed in high income stores. High-use consumers had incomes ranging from $8,000 to $25,000 annually. Lowest users of unit pricing were low income consumers with grade school education, 60 years old or older and interviewed in low income stores. High understanding of unit pricing was displayed by consumers 18-29 years of age and with some college education. They were interviewed in middle income stores and had incomes of $8,000 to $25,000 per year (middle income). Low understanding consumers were again aged 60 or older, were high school graduates with low annual incomes of $8,000 or less. They were interviewed in low income stores. Hypothesis 13 related to brand preference scores and the degree of correlation with use scores. A moderate negative correlation was identified ( -.42) using the Pearson "r" test. As brand-preference increased, use of unit pricing decreased somewhat. A similar correlation was true of understanding correlated with brand preference, a negative correlation of -.28. Use scores and understanding scores showed a positive correlation of +.58. Hypothesis 14 tested consumer awareness of his/her use of unit pricing. Seattle consumers perceived greater use of unit pricing and reported more frequent use than did Portland consumers.
Author: Charlene C. Price Publisher: Forgotten Books ISBN: 9780364957011 Category : Business & Economics Languages : en Pages : 36
Book Description
Excerpt from Consumer Awareness and Use of Unit Pricing Unit pricing is the price per unit measure (quart, ounce, pound, etc.) of various products. Its use enables shoppers to compare prices between stated sizes and brands of products more easily. Unit prices for most grocery products are displayed beneath the items on small tags or on labels attached to the shelves. In the case of meat, poultry, and fish items, the label is placed directly on the package. Meat, poultry, and fish items have carried unit prices for years. Unit pricing for most other food and nonfood items is relatively new. Since its introduction in the late sixties, unit pricing has been voluntarily practiced by many grocery stores. Recently, however, eight States and six local jurisdictions have made unit pricing mandatory. 1/ Findings from earlier studies have pointed to limited consumer awareness of unit pricing. 2/ Lack of consumer education and few materials explaining the system to consumers mav have been major causes. Economist, National Economic Analysis Division, Economics, Statistics, and Cooperatives Service. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance Publisher: ISBN: Category : Disclosure of information Languages : en Pages : 106
Author: Jun Yao
Author: Jun Yao
Author: Ragnhild Silkoset
Author: Simone Guercini
Author: Nguyen Hoang Thuan
Author: Betsy L. Close
Author: Charlene C. Price
Author: Charlene C. Price
Author: 
Author: 
Author: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance