Pricing Tactic Persuasion Knowledge In Retail Industry

Download or read book Pricing Tactic Persuasion Knowledge in Retail Industry written by Anand Veera Mohan Chowdary Yaramati and published by . This book was released on 2020 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing Tactic Persuasion Knowledge refers to consumer's awareness about the strategies and tactics that firms employ to convince them to buy a product and the motives behind the usage of such strategies. So, marketers leave no stone unturned to persuade the customers with various pricing tactics. If the customer infers pricing tactics used by a brand as manipulative, all the efforts put in by marketers go in vain and sometimes results might go negatively. Research shows that consumers having higher level of pricing tactic persuasion knowledge, tend to react negatively to persuasive pricing tactics. When customer perceives an action as attempt to persuade, they view the communication differently. It plays a major role in the retail segment when the managers decrease the price and decrease the quantity. With the persuasion knowledge the customer acquired from experience, the customer figures out that the price reduction is due to the reduction in the quantity.