 Implementing price increases in turbulent economies: Pricing approaches for reducing perceptions of price unfairnessJodie L. Ferguson Journal of Business Research, 2014, vol. 67, issue 1, 2732-2737 Abstract: Consumer frustration over having less money in their pockets and, at the same time facing higher prices for products and services in the marketplace, arises during turbulent economic times (e.g., post-2007). Sellers suffer increased costs and pass along increases by raising prices to consumers. The current article discusses trends in the pricing literature and in practice that sellers utilize in limiting perceptions of price unfairness, particularly when increasing price in turbulent economic times. Specifically, engaging in transparency in pricing by revealing information about price changes to the consumer during poor economic times potentially reduces perceptions of price unfairness. Using industry-common price-setting practices, shrinking product volume, providing automatic rebates promotions, or offering price-matching promotions also likely reduces perceptions of price unfairness. Keywords: Perceptions of price fairness; Price-setting; Global economic crisis; Transparency; Rebates; Price-matching (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:67:y:2014:i:1:p:2732-2737 DOI: 10.1016/j.jbusres.2013.03.023 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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