Sales promotions and product enhancements are commonly expected to increase a brand's sales, when they do not negatively impact its utility and cost. That is, the purchase probability of consumers who find the promotion or additional feature attractive will increase, whereas the purchase...

Considerable theoretical justification for consumers' use of psychological reference points exists from the research literature. From a managerial perspective, one of the most important applications of this concept is reference price, an internal standard against which observed prices are...

Grocery store managers change prices on a weekly basis either as part of price promotions or in response to changes on their supply side. Consumers experience this price variability and may respond to it. Even though behavioral literature suggests that price variability affects consumers'...