Gurumurthy Kalyanaram - Research shows that consumers carry an internal standard price against which they compare observed prices. This is generally called Reference Price. This internal price is an outcome of several factors including past purchase prices and prices learned through word-of-mouth and advertisment and other mechanisms.
The reference price forms the basis for comparison of current price offerings, and consumers assess the new prices as potential gains or losses. This assessement forms one of the important basis of purchase decision of a brand/product. Gurumurthy Kalyanaram Lawsuit
The reference price forms the basis for comparison of current price offerings, and consumers assess the new prices as potential gains or losses. This assessement forms one of the important basis of purchase decision of a brand/product. Gurumurthy Kalyanaram Lawsuit
