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Dynamic Pricing and Sustainability: Impact on Consumer Decisions: Understanding the Influence of Price Fairness, Trust, and Environmental Awareness on Consumer Behavior
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Resumo(s)
The purpose of this study is to examine how dynamic pricing affects consumers' purchase intention and satisfaction toward perishable products. A quantitative experimental method was used, where participants were assigned to either a dynamic pricing or a traditional pricing group randomly, exploring the mediating effects of perceived price fairness and trust on consumers' responses, and the moderating effect of environmental consciousness on their responses. The findings show that dynamic pricing did not significantly affect consumer purchase intention and satisfaction, and both consumer perceived price fairness and trust did not mediate the effect of pricing strategy on consumer outcomes, while they both contributed to predict satisfaction and purchase intention. Consumer environmental consciousness did not moderate the effect of pricing strategy on consumer responses, while its effect on consumers behavioral intention was significant. This reveals that the effectiveness of dynamic pricing may rely heavily on consumers' understanding of its dynamics. Although the fundamental psychological principles, fairness and trust, will be influential in consumers' decision-making. The dynamic pricing mechanism, which this experiment implemented, did not lead to consumers to activate those psychological mechanisms, and also demonstrates the difference between attitudinal and behavioral motivators; consumers were more influenced by fairness and trust on their satisfaction where more by environmental consciousness on their purchase intention. This research makes theoretical implications to the body of knowledge by demonstrating that dynamic pricing cannot always be presumed to benefit customers. It makes managerial implications by addressing the role of communication, disclosure and framing sustainability in implementing pricing strategies. In conclusion, the study is evidence to that effective dynamic pricing needs effective implementation of the strategies beyond how they operate but also creating psychological and value response from the customers.
Descrição
Dissertation presented as the partial requirement for obtaining a Master's degree in Data Driven Marketing, specialization in Data Science for Marketing
Palavras-chave
Dynamic Pricing Purchase Intention Consumer Satisfaction Price Fairness Trust Environmental Awareness