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Consumer response to utilization of comparison prices in retail advertisements

ABSTRACT

The use of comparative price advertising is widespread. An advertised reference price (e.g., regular price, original price, manufacturer's suggested price) suggests that consumers will save money, that they will "get a deal." Advertisers often appeal to this desire to "get a deal" by comparing the offering price (e.g., sale price) with some higher reference price (e.g., regular price), thereby making the offered price more attractive. Whether consumers actually save money depends primarily on the validity of this advertised comparative reference price. This paper attempts to examine the impact of comparative pricing on the consumer response towards that brand or that company and hence the buying behavior. The key factors that emerge out of the study are the wordings of the advertisement, the presence of a time constraint on the offer, the the focus of the advertising, for example if it was......

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Approximate Word Count: 5380
Approximate Pages: 22 (250 words per double-spaced page)

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