Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 28 , 10 November 2023
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The Analysis of Weber's Law in Product Marketing Strategy: Taking Coca Cola as Evidence
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Abstract
Transaction marketing is a business strategy that focuses on a single "point of sale" transaction. A transaction marks a financial agreement between two parties in which one party receives a financial benefit from the sale of goods and services to the other party. The way to obtain goods in modern society is usually inseparable from transactions, maximizing profits and obtaining more property has become the goal of many businessmen. However, obtaining benefits is not a simple science. It needs to be analyzed from different fields such as cost, research and development, publicity and the focus of this research: buyer psychology. This research paper analyzes the combination of mental accounting and the application of Weber's law in the market through examples of The Coca-Cola Company's development in the Chinese market. Using data and statistical methods to analyze the sales market and sales channels. Finally, it summarizes the suggestions and strategies of Coca-Cola's price increase, price reduction, sales methods and sales channels to provide a reference for sellers, so as to maximize the seller's benefits.
Keywords
Weber’s law, mental accounting, market price
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-077-6
- ISBN (Online)
- 978-1-83558-078-3
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/28/20231316
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited