Welcome to Francis Academic Press

Academic Journal of Business & Management, 2023, 5(2); doi: 10.25236/AJBM.2023.050205.

The Impact of Marking Itemized Prices in the Package on Consumers' Spending Pain and Satisfaction

Author(s)

Jingyao Wang

Corresponding Author:
Jingyao Wang
Affiliation(s)

China Agricultural University, Beijing, 100091, China

Abstract

In the shopping scenario, price is undoubtedly a very important factor for consumers. From the psychological level, how price affects consumers' judgment is a constantly updated topic. A further study is that the way prices are presented will subconsciously affect consumers' judgments and ultimately affect the trading volume. For enterprises, under the same cost, different presentation methods of prices can affect consumers' consumption behavior. Therefore, research on the presentation methods of commodity prices is conducive to revealing consumers' preferences, and ultimately, under the same conditions, different presentation methods of prices can directly affect the final trading volume, and to a certain extent, affect consumers' experience. To examine the impact of itemized prices on spending pain and consumer satisfaction, this study was based on the manner of the questionnaire survey, design of simulation experiments with relevant scenarios, and then analysis by the experimental results. In analyzing the realistic situation in which the total par price has been determined, the sum of prices is significantly higher than the total price, impact on consumer spending pain and consumer satisfaction, and it follows that, in this context, itemized price labeling can reduce consumer’s spending pain.At the same time, the conclusion of improving consumer’s consumption satisfaction, According to the present study, This conclusion can provide guidance for the price labeling of business sites.

Keywords

Spending pain; Itemized prices; Consumption choice; Consumer satisfaction

Cite This Paper

Jingyao Wang. The Impact of Marking Itemized Prices in the Package on Consumers' Spending Pain and Satisfaction. Academic Journal of Business & Management (2023) Vol. 5, Issue 2: 22-27. https://doi.org/10.25236/AJBM.2023.050205.

References

[1] Wang Yuhan. Research on F Fashion Brand Discount Pricing Strategy Considering Consumer Psychology [D]. Donghua University, 2022

[2] Qiu Senhui. The Impact of Market Price Promotion on Consumer Psychology and Behavior [J]. Modern Business, 2018 (17): 11-12

[3] Kastanakis, M.N., Magrizos, S., & Kampouri, K. (2022) Pain (and pleasure) in marketing and consumption: An integrative literature review and directions for future research. Journal of Business Research, 140, 189-201.

[4] Xu, Q., Zhou, Y., Ye, M., & Zhou, X. (2015) Perceived social support reduces the pain of spending money. Journal of Consumer Psychology, 25(2), 219-230.

[5] Zhou, X., Vohs, K.D., & Baumeister, R.F. (2009) The symbolic power of money: Reminders of money alter social distress and physical pain. Psychological Science, 20(6), 700-706.

[6] Li Yan. The Influence of Price Discount and Commodity Relevance on Consumer Psychological Accounts [D]. Henan University, 2009

[7] Zhou Liwenyuan, Dong Shenghong, Yan Yuzhi. (2021) Spending money is not happy——to pay for pain research review. Psychological Research, 14 (01): 44-51.