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Soc. Sci. 2018, 7(9), 153; https://doi.org/10.3390/socsci7090153

Factors Influencing Consumer Behavior and Prospective Purchase Decisions in a Dynamic Pricing Environment—An Exploratory Factor Analysis Approach

1
Doctoral School of Management and Business Administration, Szent Istvan University, Godollo 2100, Hungary
2
Saintgits Institute of Management, Kerala 686532, India
3
Faculty of Business, Multimedia University, Melaka 75450, Malaysia
4
Faculty of Economics and Social Sciences, Szent Istvan University, Godollo 2100, Hungary
*
Author to whom correspondence should be addressed.
Received: 7 August 2018 / Revised: 4 September 2018 / Accepted: 5 September 2018 / Published: 7 September 2018
(This article belongs to the Special Issue Industry 4.0 Implication for Economy and Society)
Full-Text   |   PDF [250 KB, uploaded 7 September 2018]

Abstract

The rapid advancements in information and communication technology during the third industrial revolution of the late 20th century has marked the beginning of a new era in the retail sector with the introduction of E-commerce. The dawn of the new century witnessed industry 4.0, revolutionizing all areas of online business by bringing in novel opportunities and possibilities. Despite the progress in technology, the determination of correct pricing on online selling platforms still remains a very complex task. The adoption of big data technology has enabled online sellers to make real-time price changes of high magnitude and proximity. However, with increasing awareness among buyers regarding modern pricing strategies, it is necessary to examine probable changes in consumer behavior when exposed to dynamic pricing scenarios. This study investigates the factors that influence consumer behavior, and their prospective online purchase decisions in a dynamic pricing context, through an exploratory factor analysis approach. A primary research survey was conducted, and 178 samples were finalized for data analysis through a series of web surveys completed by respondents in India. This study identifies, measures and classifies 27 research items into variables, namely shopping experience, privacy concerns, awareness about dynamic pricing, buying strategy, fair price perceptions, reprisal intentions and intentions for self-protection. These seven factors could be used to explain consumer behavior in a dynamic pricing situation. View Full-Text
Keywords: dynamic pricing; E-commerce; industry 4.0; big data; consumer behavior; India dynamic pricing; E-commerce; industry 4.0; big data; consumer behavior; India
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Victor, V.; Joy Thoppan, J.; Jeyakumar Nathan, R.; Farkas Maria, F. Factors Influencing Consumer Behavior and Prospective Purchase Decisions in a Dynamic Pricing Environment—An Exploratory Factor Analysis Approach. Soc. Sci. 2018, 7, 153.

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