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Reference Pricing How Effectiv Beginning of Paper There is a psychological theory that states that people for perceptions based on present and past stimuli (Helson, 1964). This has been extended by marketing academics to include the concept of reference pricing. They do this by stating that consumers, based on their previous expos .... Middle of Paper .... and are used by consumers to assess the value of an item. Examples of these reference prices include reduced promotional prices and a competitor's price (Biswas, Wilson & Licata, 1993). The second major type of reference price is the internal reference price. These exist in the consumer's mind as either a point or a range of points (Putler, 1992). In either case, the reference price is used to evaluate the value of a price under consideration. The concept of the reference price is consistent with a number of psychological theories inclu .... 2173 words | 8 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95