In recent decades, numerous studies have been conducted on pricing from the perspective of economics, marketing, operational research, decision making, and consumer behavior. The key rationales behind these studies are to optimize pricing and to maximize profits. However, investigative work into pricing a product from the consumer’s feeling perspective is rare. Hence, this thesis involves the investigation of the relationship between the consumer’s feelings and pricing. To investigate the relationship of the consumer’s feelings to pricing, a retail product of a particular retail segment/industry has to be identified that can illustrate the effect of the consumer’s feelings in relation to pricing. The product and its involvement in the consumer market have to be generally accepted, descriptive and expressive in term of feelings and representable in the industry/market segment. Most importantly, the pricing framework developed can be applied to a wider range of products, or even extended to an industry segment. The cosmetics industry is a lucrative, innovative, and fast-paced industry. It is also a key market segment in the retail industry. Hand cream products, which are a part of the cosmetics industry, fit the requirements of the study. They are widely accepted by the consumer market. The products can be easily described and expressed by a number of common psychological feelings…
Contents
CHAPTER 1. INTRODUCTION
1.1. Background of the Project
1.2. Aim, Objectives, and Scope
1.3. EngD Thesis Outline
CHAPTER 2. LITERATURE REVIEW
2.1. Understanding the ingredients and functions of hand cream
2.2. Lack of studies on pricing from the perspective of the consumer’s feelings
2.3. Product branding/brand name
2.4. The pricing mechanism can never be simple
2.5. Technique used to measure the consumer’s feelings
2.6. Dynamics of Pricing
2.7. Concluding Remark
CHAPTER 3. METHODOLOGY/RESEARCH METHOD
3.1. Stages of the Investigation
3.2. Methods and Tools
3.3. Data Analysis
CHAPTER 4. ANATOMY OF THE KANSEI WORDS
4.1. Identification and quantification of Kansei words
4.2. Analysis of the Kansei words
4.3. Identification of the independent variables based on principal components analysis (PCA)
CHAPTER 5. PRICING THE HAND CREAM
5.1. Hierarchical regression model
5.2. Questionnaire design for pricing
5.3. Results of the contingent valuation survey on “willingness to pay”
5.4. Regression analysis for “actual price paid”
CHAPTER 6. CONCLUSIONS AND RECOMMENDATIONS
6.1. Framework of the pricing process
6.2. Guidelines of the pricing process
6.3. Discussion and recommendations
6.4. Conclusion
REFERENCES
APPENDICES
Author: Cheong, Matthew Veng Va
Source: City University of Hong Kong
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