Winning Strategies for Online Purchases (eBay, Priceline and StubHub)

Michael Kamins

Chapter 14 in Marketing Manipulation:A Consumer's Survival Manual, 2018, pp 209-224 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As we have seen in this book, humans as a group generally behave in certain predictable ways that are often influenced by cognitive, memory-based or social biases. If you are aware of such biases, and can avoid behaving as the majority behaves in specific purchase situations, you can often outmaneuver others, particularly when prices of goods are not set in stone. While you might be thinking that prices are ALWAYS set in stone, this is a false assumption. While the super market may not be willing to bargain with you regarding a can of peaches or a bunch of grapes, consider the opportunity you have to buy for less when bidding for a product on eBay or when offering a bid for a hotel or car on Priceline. Even ticket prices on StubHub change the closer you get to the event, and believe it or not, when buying a stock, it may not be wise to purchase after it has gone up significantly since it may be due for a quick drop.

Keywords: Marketing; Consumer Behaviour; Pricing; Product; Promotion; Distribution (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2018
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