Introduction:
This articles elaborates the behavior of the customers or consumers in the shopping malls if there are no price tags for commodities. This article is based on research done on the behavior of consumers with respect to price tags rather than naming their own prices at the counter. This research is based on an assumption that consumers are always selfish and they will always go for the most appealing deals in the market. The article also shows that when people are given options to pay for other people they will pay more than what they could pay for themselves. This therefore leads to aspects relating to obligation, fairness and reciprocity which are the main guiding forces to the consumers in approaching the best deals. The article also shows that people do overestimate the generosity and financial capability of others until they now they truth of what others actually paid. The article therefore gives the general principles where consumers pay it forward v paying what they want with respect to nature of companies like the video companies.
The research described in this article entails the use the assessment of the social forces and psychological consumers which influence the consumer behavior. The factors relating to fairness and obligation are clearly shown in the article and their impact on the prices of goods and services relatively to those of other consumers in the market. The article also shows the behavior of consumers in relation to the prices taken by the previous consumers of the same products in the market. The psychological forces in relation to consumer prices in the market have also been highlighted in the article relating to the behavior of consumers when they are paying for themselves as compared to when they are paying for others. The effects of the goodwill are also reflected in the article with respect to the behavior of consumers pertaining to specific products and services in the market. The article also effects economic forces which affects the behavior of consumers pertaining to paying prices for themselves as well as paying for others where they tend to overestimate the financial capability of others.
This article plays an instrumental role in determining the behavior of consumers pertaining to payment of prices both for themselves and for others. The article therefore provides information which is relevant in analyzing the reaction f consumers to certain forces in the market. The information relating to price reactions is very useful in setting of prices which are fair to the consumers and producers of such products. The research findings are therefore useful in market differentiation depending on the nature of customers in the market segments. The information provides n the article is crucial in ensuring that the prices charged reflects the economic status of that region or place as well as class of consumers.
The article provides additional knowledge in relation to marketing so as to enable marketers assess the buying practices of consumers when they are buying for others. This will help the marketers to target specific consumers of the products in order to maximize sales. Consumer behavior will also advance due to the knowledge of prices posed by people when they are burying for others in the market.
The information pertaining to the author and methods used in collecting and analyzing data are of essence in order to determine the relevance and suitability of such in decision making pertaining to the market conditions. The author did not provide actual statistics of the data and results of the research carried out.
In conclusion, this article shows the aspects relating to consumer behavior as far as the prices and willingness of consumers is concerned. The article gives an elaborate and suitable information pertaining to reaction of consumers when price tags are attached and when they are allowed to suggest their own prices. The article therefore played a crucial role in providing relevant information relating to the consumer behavior in relation to price determination.
