The two‐stage presale pricing for online products considering anchoring effect and payment pain reduction

Xuwang Liu, Yujie Zhang and Junwei Wang

Managerial and Decision Economics, 2024, vol. 45, issue 6, 3865-3885

Abstract: Online product pricing is an important research field in the platform economy, and a two‐stage mixed presale is a mainstream mode of online sales. In the process of online consumption, the payment method and presale mode have an important impact on consumer behaviour and product pricing. Based on the two‐stage mixed presale mode, this study considers the impact of anchoring and the payment pain reduction effect on consumer behaviour, establishes the corresponding product pricing model and obtains the optimal presale price, sales and profit. It sheds light on the influence mechanism of anchoring and the payment pain reduction effect on consumer behaviour and online product pricing. Theoretical and numerical analyses reveal that the payment pain reduction effect can help to raise the product price, stimulate market vitality and bring higher profits for online retailers, and the anchoring effect and consumers' loss aversion psychology can enhance the profits and sales of online retailers, but they will discourage setting high prices for products. The research results will further enrich the relevant research on customer behaviour and product pricing in the platform economy and will provide decision bases for platform enterprises and online retailers to participate in presale activities and formulate product pricing strategies.

Date: 2024
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https://doi.org/10.1002/mde.4226

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:45:y:2024:i:6:p:3865-3885

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