Consumer behavior and willingness to pay in a real market experiment
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Date
2011
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Journal Title
Journal ISSN
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Publisher
Видавництво Львівської політехніки
Abstract
In this paper we present an A/B-Test where we scrutinize
the consumer behavior and the willingness to pay of customers
in a real online community portal. The customers of the
treatment group could choose between two price-quantity
options. The control group however could only choose one
price-quantity-combination. It turned out that a higher
number of variations does not necessarily lead to a higher
sales volume. It was interesting to see that consumers decided
for the option with the higher per unit price if the total amount
is lower than the price of the ‘bulk pack’. Beside the economic
results we gained essential experience in the conduct of real
market online experiments. Particular the assignment and the
recognition are crucial in order to perform a valid experiment.
We found out that a sequential assignment and the
incorporation of registered users yields the best results.
Description
Keywords
A/B-Test, consumer behavior, experiment, price, real market, online, consumer choice
Citation
Oettler M. Consumer behavior and willingness to pay in a real market experiment / Mario Oettler, Andreas Ittner // Економіка і менеджмент : матеріали ІI Міжнародної конференції молодих вчених ЕМ-2011, 24–26 листопада 2011 р., Львів, Україна / Національний університет "Львівська політехніка". – Львів : Видавництво Львівської політехніки, 2011. – C. 18–21. – (3-й Міжнародний молодіжний фестиваль науки). – Bibliography: 4 titles.