Impact of Price Framing on Consumers

DOI

10.2991/assehr.k.211209.337How to use a DOI?

Keywords

Price framing; promotion; decision making; consumer behavior; price perception

Abstract

The manner, in which prices are presented to consumers, as well as their categories, has a great impact on consumers’ behaviour. The main reason behind this phenomenon is that consumers tend to take ‘shortcuts’ when choosing between competing alternatives, be it products or services. As much as price framing is good for retailers and marketers, it has both positive and negative effects on consumers. When the strategy provides real value to consumers as perceived, then it is ethical. However, price framing at times could be misleading to consumers hence denying them value for their money. A number of scholars have analysed the effects of price framing from different perspectives. This paper provides a review analysis of various research works on price framing from the period in which the concept was officially included in academic literature. This review aims to find gaps in the literature concerning price framing and set a future agenda for research in this field. A systematic review approach was adopted for this study to ensure its purpose is achieved.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Xinyu Weng
PY  - 2021
DA  - 2021/12/15
TI  - Impact of Price Framing on Consumers
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2059
EP  - 2063
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.337
DO  - 10.2991/assehr.k.211209.337
ID  - Weng2021
ER  -