REFERENCE PRICE, PRICE PERCEPTION AND WILLINGNESS TO PAY

  • Takhaui Barkhanuly Kamzabek
  • Bolat Anarbay
  • Shifo Amirshoev

Abstract

The product price plays a strategical role for both organizations, in terms of profitability and consumer lives in terms of utility-maximizing. However, it is difficult to predict consumer behavior toward established prices by firms. The research works predict that consumer price perception and willingness to pay are different. Also, a consequence of price has been analyzed under three theories (1) Adaptation theory (2) assimilation theory and (3) transaction utility theory. In addition to that, this work shows five types of price perception (positive and negative price perceptions) and consumer model of willingness to pay.    Keywords: reference price, price perception, willingness to pay.

Author Biography

Takhaui Barkhanuly Kamzabek
Instructor at Business School

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Published
2020-06-24
How to Cite
KAMZABEK, Takhaui Barkhanuly; ANARBAY, Bolat; AMIRSHOEV, Shifo. REFERENCE PRICE, PRICE PERCEPTION AND WILLINGNESS TO PAY. SDU University Bulletin: Social Sciences, [S.l.], v. 52, n. 1, june 2020. ISSN 2709-2410. Available at: <https://journals.sdu.edu.kz/index.php/ss/article/view/34>. Date accessed: 04 june 2025. doi: https://doi.org/10.47344/sdubss.v52i1.34.