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Intuitive pricing by independent store managers: Challenging beliefs and practices

Benoit, Sabine, Kienzler, Mario and Kowalkowski, Christian (2020) Intuitive pricing by independent store managers: Challenging beliefs and practices Journal of Business Research, 115. pp. 70-84.

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Abstract

Independent store managers—who constitute a substantial portion of the retailing sector—often have limited resources with which to practice the formalized, data-driven pricing processes prescribed in the literature. On that basis, this article addresses how independent convenience store managers arrive at prices and whether their practices are effective. To begin with, 33 interviews with independent convenience store managers identified six common beliefs and ten practices underlying managers’ intuitive decision making. Based on point-of-sale survey data from 1,504 customers of two convenience store chains at petrol stations, a second study compared market-oriented managerial beliefs with actual customer price perceptions and buying behaviors. The combined insights from these studies reveal that managers base their pricing decisions on beliefs that are only partially accurate and suggests how managers might benefit by altering their price-setting practices.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
NameEmailORCID
Benoit, Sabines.benoit@surrey.ac.uk
Kienzler, Mario
Kowalkowski, Christian
Date : July 2020
DOI : 10.1016/j.jbusres.2020.04.027
Copyright Disclaimer : © 2019. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Uncontrolled Keywords : Pricing; Convenience stores; Intuition; Price perception; Buying behavior; Multi-method research
Depositing User : Clive Harris
Date Deposited : 13 May 2020 17:10
Last Modified : 13 May 2020 17:10
URI: http://epubs.surrey.ac.uk/id/eprint/856403

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