Analysis of Online Price Promotion Strategy Based on Consumer Psychology

Abstract

Price promotion is the main factor influencing consumers' decision. There are many forms of online price promotion, such as dicounts, coupons, gifts, bundling sales, etc. Each price promotion method give consumer different psychological feelings, thus affecting consumers’ purchase behavior. According to the previous studies, the paper proposes an equation firstly, analyzes these price promotion value from consumer psychology, then provides an effective price promotion strategy for online stores.