ArticleOpen Access http://dx.doi.org/10.26855/jhass.2024.05.027
Microeconomic Analysis of Consumer Behavior and Firm Pricing Strategy
Jing Feng
Belarusian State Economic University, Minsk, Belarus.
*Corresponding author: Jing Feng
Published: June 13,2024
Abstract
This paper aims to deeply analyze the interaction and internal logic between consumer behavior and firm pricing strategy from the perspective of microeconomics. This paper first summarizes the core factors of consumer behavior, including demand, preference, information asymmetry, etc., and discusses how these factors affect purchasing decisions. Then, it expounds on the theoretical basis of enterprise pricing strategy, such as cost-oriented, competition-oriented, and value-oriented pricing. On this basis, the paper focuses on the specific impact of consumer behavior on pricing strategies, such as price sensitivity, brand loyalty on price acceptance, and the relationship between information search and price transparency. The paper further points out that enterprises need to flexibly adjust pricing strategies to cope with changes in consumer behavior, and puts forward strategies such as differentiated, dynamic, and personalized pricing. Finally, the main findings of the study are summarized, and the direction of future research is pointed out. The research of this paper has important theoretical and practical significance for understanding the microeconomic relationship between consumer behavior and firm pricing strategy and guiding enterprises to formulate effective pricing strategies in practice.
Keywords
Consumer behavior, Enterprise pricing strategy, Microeconomics, Demand analysis, Market positioning
References
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How to cite this paper
Microeconomic Analysis of Consumer Behavior and Firm Pricing Strategy
How to cite this paper: Jing Feng. (2024) Microeconomic Analysis of Consumer Behavior and Firm Pricing Strategy. Journal of Humanities, Arts and Social Science, 8(5), 1223-1227.
DOI: http://dx.doi.org/10.26855/jhass.2024.05.027