Impact of Pricing on Consumer Psychology

The main purpose of this research is to measure the impact of pricing strategies on consumers' psychology and consumer buying behavior. This study theoretically examines the impact of pricingstrategies used by companies on buying behavior of consumers. Main focus of researcher is to determine the effects of pricing strategies on consumer psychology. The study of consumer behavior is very challenging task where it is clear that if company wants to survive, it should be able to compete well. Researcher has took an latest example with case study on Reliance Jio info comm. Limited to study its market strategy and also to know its impact on consumer buying behavior because Reliance Jio has brought a vast change in market with its launched. There are so many strategies used by companies according to time, competition, and buying behavior of consumers. The study has used secondary data from research papers, monographs, theses, popular articles, and newspapers.Generally, consumers who are more price cognizant are more probable to select nine-ending prices. This study also covered the concept of penetration pricing strategy which is mostly used by marketers to grab the market and it seems very impactful on consumer' psychology. Madhushri Sharma"Impact of Pricing on Consumer Psychology" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: http://www.ijtsrd.com/papers/ijtsrd17073.pdf http://www.ijtsrd.com/management/law-and-management/17073/impact-of-pricing-on-consumer-psychology/madhushri-sharma