Content and objectives of the final project
The thesis will examine how different pricing policies affect consumer purchasing behavior. The goal is to deepen understanding of the psychological and economic impact of pricing on consumers. This includes analysis of strategies such as psychological pricing, promotional pricing, dynamic pricing and price discrimination. The paper aims to provide supermarkets and other interested parties with useful insights to optimize their pricing strategies to better meet consumer needs and increase sales.
Possible research questions
1. How do key pricing strategies affect consumer perception and purchase decisions?
Theoretical and/or practical value of the project
Theoretically, the thesis will provide a deeper insight and understanding of how existing theories and research on pricing policies and consumer behavior can be interpreted and applied in the context of the grocery market. it will analyze and integrate existing knowledge to shed light on the impact of pricing on consumer purchasing behavior, with the aim of offering new insights into how stores can use this knowledge to develop effective pricing strategies. The thesis will therefore deepen the understanding of known phenomena rather than presenting completely new knowledge, with the aim of adding and expanding the discussion on pricing and consumer decision-making.
Practically, it intends to offer market participants insight into how to implement effective pricing strategies to increase customer satisfaction, loyalty and overall sales. This project has the potential to provide guidance for the development of pricing strategies that are competitive and consumer friendly.
Main sources and/or theories
The thesis will draw on a wide range of sources, including academic articles, industry reports and case studies, with a particular focus on theories related to consumer behaviour, marketing and economics. Key theories will include the psychology of pricing, behavioral economics and the marketing mix, with seminal works by authors such as Philip Kotler and Robert Cialdini providing important theoretical insights.
Implementation of the project
The project will be carried out through a systematic review of relevant sources, with the aim of analyzing, outlining and integrating existing research findings on pricing policies and their impact on consumer behaviour. This includes:
– Collection and evaluation of academic sources to develop a theoretical framework.
– A detailed analysis of the different pricing strategies used in the market and their psychological and economic impact on consumers.
– Use of case studies and empirical studies to describe the actual use and consequences of these pricing strategies.
– Integration of results to provide theoretical insights and practical recommendations for stakeholders.
only use peer reviewed studies. and try to have many of them
here is a suggestion of table of contents:
1. Introduction
– Purpose of the project
– Objectives and scope
– The structure of the essay
2. Theoretical basis
– Consumer decision making process
– An overview of pricing policies and theories
– The role of pricing in the marketing mix
3. A detailed overview of the main pricing policies
– Psychological pricing: Effects on perception and behavior
– Promotional pricing: Impact on demand and purchase patterns
– Price positioning: Impact on brand and value perception
– Dynamic pricing: Adjustment in real time and consumer response
– Price discrimination: Different prices for different groups
– And possibly more
4. Special points in pricing
– Perception of price fairness: Effects on satisfaction and loyalty
– Price transparency: Impact on trust and decision-making
– Impact of digital platforms: Online shopping and price comparison
5. Price formation in Iceland
-Competition and its measurement (the HHI index)
– Oligopoly markets here e.g. food, medicine, oil, shipping, agriculture
6. Final words
– Summary of the main results
– Theoretical and practical conclusions
– suggestions for future research
7. references
but you can change anything to make it more smooth
