Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability by Raju Jagmohan & Zhang Z. John

Author:Raju, Jagmohan & Zhang, Z. John [Zhang, Z. John]
Language: eng
Format: epub, azw3, mobi
Publisher: Pearson Prentice Hall
Published: 2010-03-11T06:00:00+00:00

Fifth, automatic markdowns boost repeat traffic. They are a good way to entice shoppers to visit a store repeatedly, particularly for price-conscious shoppers who might otherwise avoid stepping into a store at all. Price-conscious customers who come back intending to look for something they saw the week before may well walk out with something different. Creating such a habit is extremely useful: Marketers have long known that the more time customers spend in a store, the greater the likelihood they will succumb to an impulse purchase. Whether or not they find their bargain this trip, chances are good that they will find something else the next—and even when the chances are low, they are certainly much better than if they hadn’t returned to the store at all.

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