Price always affects consumer decisions on what to buy such as find betters products with same price or a similar product for a cheaper price. Many surveys have shown that a change in price could produce unexpected results when it comes to consumer buying behavior.
How Price affects consumer decisions
- You should understand that when you raise the price you will be faced with a reduction in the number of customers
- If the customer has the choice to get the same product from a competitor at a lower price you could lose the customer permanently.
- Raising the price could have no effect at all, especially if it is a product that is in high demand and not available at competitors.
- In fact, charging a higher price compared with other similar products and services sometimes entices consumers to buy because some buyers equate a high price with a superior-quality product.
- Apply Low Price may make consumers satisfied and buy more products. In other cases, the consumer could become suspicious of the low price and assume it means the product is of a lower quality.
Price Match Magento Extension – powerful tool for your website
You always wondered search strategy grave perfect price for their products. To make the price for each product or service business owners may have to spend a lot of time and expense to the survey, the study of price competition and consumer opinions. But now you can minimize the effort with Price Match Magento Extension. This really is a great tool for current and future pricing strategy for your website. Notable features of this product can be easily list as bellow:
- This extension allows customers to submit price match request, you will easily surpass the competition thanks to the regular updates pricing through customer feedback.
- Price Match Magento Extension is able to automatically send customers coupon code for matching their price request. Coupon code auto creation can be set up Enable or Disable.
- Admins can easily put a Price Match Request button in product detail page
- Admin can view all price match request from customers to make a suitable decision for price strategy
- Email will be set up to automatically send to customer when their request is approved or rejected. Email notification templates can be customized
- Admin can configure the module to display the price match request form in Ajax Popup or separate page as long as turn on or off the module for specific store view.
- Admins can set up configure to display request form in Popup or separate page and change the text in price match request form.
Price Match Magento Extension will bring a clear improvement in sales and increase user interaction with your site. Find out more about smart products through demo version on Cmsmart market place for your action here: