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Curated by Jeff Domansky
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How Amazon tricks you into thinking it always has the lowest prices

How Amazon tricks you into thinking it always has the lowest prices | Public Relations & Social Marketing Insight | Scoop.it
From www.msn.com - January 13, 2015 6:18 PM

“Amazon may not actually be the lowest-priced seller of a particular product in any given season,” the report reads, “but its consistently low prices on the highest-viewed and best-selling items drive a perception among consumers that Amazon has the best prices overall — even better than Walmart.”

The study was part of a white paper Boomerang released on Tuesday to bring attention to the idea of price perception in e-commerce. The startup has created a “price perception index,” which it described as “a numerical pricing model that captures customer psychology of price perception. It does so by providing a tangible statistic of how a company’s products…are priced, relative to the competition, weighted by customer interest.”...


Via Douglas G Hall
Jeff Domansky's insight:

Here's a fascinating look at Amazon, it's pricing strategies and its product marketing tactics.

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Doug Hall's curator insight, January 13, 2015 5:37 PM

Interesting POV on Amazon marketing, pricing and online shopping strategies.
Intelishift's curator insight, January 13, 2015 7:29 PM

They are even very clever with #cloud hosting.

 
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Can a “Surgical Discount” Strategy Scar the Customer Experience? | CustomerThink

Can a “Surgical Discount” Strategy Scar the Customer Experience? | CustomerThink | Public Relations & Social Marketing Insight | Scoop.it
From customerthink.com - January 3, 2015 2:18 AM

When was the last time you paid the full retail price?  According to a recent article in The Wall Street Journal (Attention, ‘Discount Junkies’) about 15% of shoppers generally pay full price for items and don’t bother searching for sales.  At the other extreme, a fifth of online shoppers are considered true “discount junkies,” people who make purchases only when offered discounts.


Discount shoppers are clearly reluctant to spend on premium brands if value is missing.  In fact, in C. Britt Beemer and Robert L. Shook’s book “It Takes a Prophet to Make a Profit: 15 Trends that are Reshaping American Business” published back in January 2001, Trend 6 states:“Consumers Are Reluctant to Pay Full Retail Price”


Their research showed that more than 85 percent of all consumers in America shop for merchandise on sale.  For those who pay full retail, 44 percent said they did so because they didn’t have time to shop.  In addition, they discovered....

Jeff Domansky's insight:

Consumers simply hate to pay full retail price. Here's valuable ammunition for retail marketing strategists.

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The best of eBates 2014

The best of eBates 2014 | Public Relations & Social Marketing Insight | Scoop.it
From click.ebates.com - January 13, 2015 12:56 PM

Cashback industry leader eBates had a phenomenal year, returning $98,339,477 to consumers. Consumers are now embracing cashback programs and merchants are seeing the benefits of this powerful marketing strategy in driving sales. The future strength of the cashback industry is further reflected in the purchase of eBates for more than $1 billion by Japanese conglomerate Rakuten. 

Jeff Domansky's insight:

The future definitely looks bright for the cashback industry.

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Jeff Domansky's curator insight, January 13, 2015 1:01 PM

The future definitely looks bright for the cashback industry.
Doug Hall's curator insight, January 13, 2015 1:04 PM

The future definitely looks bright for the cashback industry.
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