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Main Factors That Influence In The Price Misperception

Author

Listed:
  • Mª Encarnación Andrés Martínez

    (University of Castilla-La Mancha)

  • Miguel Angel Gomez Borja

    (University of Castilla-La Mancha)

  • Juan Antonio Mondéjar Jiménez

    (University of Castilla-La Mancha)

Abstract

Price knowledge is a very important psychological concept for retailers and manufacturers to formulate and develop marketing strategies. In this sense, an analysis of the knowledge that individuals have of prices can help retailers design more efficient price strategies. The purpose of this research is to analyse socio-demographic and environmental determinants (i.e. price range) and consumer price perception error in different types of retail stores. The empirical study is based on a survey that analyses price knowledge using perception error. Considering different socio-demographic and behavioural aspects of consumers in relation to prices, an analysis was carried out to ascertain whether or not there are significant differences in perception error. The results reveal significant differences for the price range and some socio-demographic variables.

Suggested Citation

  • Mª Encarnación Andrés Martínez & Miguel Angel Gomez Borja & Juan Antonio Mondéjar Jiménez, 2013. "Main Factors That Influence In The Price Misperception," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 3(3), pages 140-148, March.
    • Handle: RePEc:mir:mirbus:v:3:y:2013:i:3:p:140-148
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