Year: 2021
Type: dissertation
Abstract: The study of price and related topics is minor compared to the other three aspects of marketing. Nevertheless, pricing strategies are as important as any other strategies to support sales goals and further achieve a firm's mission. Dynamic pricing strategies offered firms the chance to reduce prices for a limited period to attract customers by evoking the perception of savings. Many industries applied these strategies, but the focus of this study is the grocery retail industry. This study considers two of the most used pricing strategies implemented in the grocery retail industry, EDLP or everyday low price, and HILO or promotions. A literature review was conducted, which understood the cognitive process of fairness perception in the customers' minds. This study presents qualitative research that explores generation Y cohort's perception of fairness on these strategies. The theoretical foundation also supported the design of this research. One of the essential findings was the understanding of the comparison exercise as the key to exploring fairness judgments on customers' minds. The instrument for data collection was the focus group discussion. And, for this study, the modality to execute the application was online. The three focus group discussions follow the same template; therefore, this study analysed the collected data across the three of them.
Author: Zegarra Cavero, Nestor Jesus
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6999594854