The psychology of pricing, investigating how psychological pricing strategy and perceived Value shape consumer decision making processes (Sri Lanka).

Abstract

"The study is positivist in approach, deductive, and quantitative in nature; it explores the psychologically-based pricing strategies, perceived value and their impact on the consumer purchasing decisions, special in the market context in Sri Lanka. Convenience sampling is used which corresponds with objective testing of these two by analyzing data and drawing conclusions on direct and mediated effects among mentioned variables. Utilization of bivariate correlation analysis, linear regression coefficients, and mediation tests like the Sobel test is the theoretical foundation as a result of this study reveal the significance of correlating variables and the mediatory role of quality perception towards the connection psychological pricing. Likewise, some observed issues in case of instrumenatation, respondent rate, and experimental design, do not prevent us from acquiring profound insights and coming up with practical recommendations for further work in this area.

For instance, this idea manifests in such strategies as elaborating segmentation analysis, extensions of the empirical studies to tightening designs of experimentation, and moving towards wider empirical investigation in the context of consumer behavior and pricing strategy effectiveness.Researchers on this front can come to understand the multi-faceted aspects of consumer behavior through addressing these issues and improve marketing guided decisions. By discerning this multifaceted investigation, academic literature is getting more nuanced content which allows the practitioners and policymakers to take actionable implications they need; and it provides a solid basis for any other scholars who intend to involve themselves in similar topic. "