Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context
The study focuses on developing a conceptual model to explore the factors influencing consumers' judgments in the decision-making process with a prime focus on personalized dynamic pricing (PDP). The study explored the judgmental impact of PDP on customer willingness to pay and mediating role...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Ala-Too International University
2021-11-01
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| Series: | Eurasian Journal of Business and Economics |
| Subjects: | |
| Online Access: | https://ejbe.org/EJBE2021Vol14No28p107-J-GOTMARE.pdf |
| _version_ | 1819236248100798464 |
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| author | Jensolin Abitha Kumari Preeti R. GOTMARE |
| author_facet | Jensolin Abitha Kumari Preeti R. GOTMARE |
| author_sort | Jensolin Abitha Kumari |
| collection | DOAJ |
| description | The study focuses on developing a conceptual model to explore the factors
influencing consumers' judgments in the decision-making process with a prime focus on personalized dynamic pricing (PDP). The study explored the judgmental impact of PDP on customer willingness to pay and mediating role of stickiness to the online store on PDP fairness and customer willingness to pay. The data was collected using a structured questionnaire administered among 256 students at a large university in India. SEM using AMOS software was used to analyze data. Price perception, involvement, product knowledge, and recommendation system positively impact price fairness of PDP, directly and indirectly influencing customer willingness to pay. Results also showed that stickiness to online stores fully mediates the relationship between price fairness of PDP and customer willingness to pay. Theoretically, the study contributes to pricing and marketing literature by identifying the antecedents of price fairness of PDP. For practitioners, this study signifies the importance of a robust recommendation system to stand out from the competition and provide deals to satisfy consumers. Specifically, the results emphasize the need to focus on stickiness to an online store to track consumer characteristics and customer value. |
| first_indexed | 2024-12-23T13:01:25Z |
| format | Article |
| id | doaj.art-c10b535087dc40fa84512f6397ba4862 |
| institution | Directory Open Access Journal |
| issn | 1694-5948 1694-5972 |
| language | English |
| last_indexed | 2024-12-23T13:01:25Z |
| publishDate | 2021-11-01 |
| publisher | Ala-Too International University |
| record_format | Article |
| series | Eurasian Journal of Business and Economics |
| spelling | doaj.art-c10b535087dc40fa84512f6397ba48622022-12-21T17:46:01ZengAla-Too International UniversityEurasian Journal of Business and Economics1694-59481694-59722021-11-01142811710.17015/ejbe.2021.028.06Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce ContextJensolin Abitha Kumari 0Preeti R. GOTMARE1 Central University of Tamil Nadu Central University of Tamil NaduThe study focuses on developing a conceptual model to explore the factors influencing consumers' judgments in the decision-making process with a prime focus on personalized dynamic pricing (PDP). The study explored the judgmental impact of PDP on customer willingness to pay and mediating role of stickiness to the online store on PDP fairness and customer willingness to pay. The data was collected using a structured questionnaire administered among 256 students at a large university in India. SEM using AMOS software was used to analyze data. Price perception, involvement, product knowledge, and recommendation system positively impact price fairness of PDP, directly and indirectly influencing customer willingness to pay. Results also showed that stickiness to online stores fully mediates the relationship between price fairness of PDP and customer willingness to pay. Theoretically, the study contributes to pricing and marketing literature by identifying the antecedents of price fairness of PDP. For practitioners, this study signifies the importance of a robust recommendation system to stand out from the competition and provide deals to satisfy consumers. Specifically, the results emphasize the need to focus on stickiness to an online store to track consumer characteristics and customer value.https://ejbe.org/EJBE2021Vol14No28p107-J-GOTMARE.pdfpersonalized dynamic pricingstickiness to an online storecustomer willingness to payrecommendation systemprice fairness |
| spellingShingle | Jensolin Abitha Kumari Preeti R. GOTMARE Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context Eurasian Journal of Business and Economics personalized dynamic pricing stickiness to an online store customer willingness to pay recommendation system price fairness |
| title | Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context |
| title_full | Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context |
| title_fullStr | Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context |
| title_full_unstemmed | Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context |
| title_short | Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context |
| title_sort | impact of consumer behavior pertaining to personalization of price in an e commerce context |
| topic | personalized dynamic pricing stickiness to an online store customer willingness to pay recommendation system price fairness |
| url | https://ejbe.org/EJBE2021Vol14No28p107-J-GOTMARE.pdf |
| work_keys_str_mv | AT jensolinabithakumari impactofconsumerbehaviorpertainingtopersonalizationofpriceinanecommercecontext AT preetirgotmare impactofconsumerbehaviorpertainingtopersonalizationofpriceinanecommercecontext |