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Communicating Price Changes and Price Differences

In: New Directions in Behavioral Pricing

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  • Kent B. Monroe

Abstract

Price change messages are an important aspect of marketing, whether announcing a price increase or communicating a price discount. Major forms of price promotions include money-off or percentage-off deals, buy X and receive Y free or at a reduced price (i.e., buy one, get one free (BOGO)), bonus packs, free samples, coupons, refunds, and rebates. Price promotions are an important marketing tactic because they are an acceptable method of reducing prices. Price promotions are designed to achieve specific objectives in a limited period of time in a target market directed at customers, consumers, or the trade…

Suggested Citation

  • Kent B. Monroe, 2024. "Communicating Price Changes and Price Differences," World Scientific Book Chapters, in: Chezy Ofir (ed.), New Directions in Behavioral Pricing, chapter 4, pages 79-115, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811292231_0004
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    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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