Knowledge in Practice Marketing
If you have seen pricing labels on a product that show a discounted price next to a retail price that has been crossed out, you've experienced the concept of referencepricing in retail.
Pranav Jindal, Associate Professor, Marketing, takes us through the practice, its effect on consumers, and what impact this initial perceived discount has on the ultimate discount, demand, and revenue for retailers themselves, in this episode of KnowledgeinPractice.
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