“PAY WHAT YOU WANT PRICING STRATEGY” AS A NEW SALES PROMOTION METHOD - AN EXPERIMENTAL STUDY ON FOOD AND BEVERAGE BUSINESSES
In this study, it has been tried to determine whether the “Pay What You Want (PWYW) Pricing” strategy can be used as a new sales promotion method. In this direction, average payment voluntariness of consumers towards the promotional product sold at PWYW pricing have tried to determine. The study also has been attempted to obtain information about what may be the elements determining the payment voluntariness of the consumers and what will be the consumers’ attitude towards the firm that applies the PWYW pricing method and promotion used with PWYW. As a result of the study, it has been determined that consumers may have more payment voluntariness to the promotional product if the company is not aim to make a profit. Additionally, it has been observed that as the level of knowledge about the reference price and as the level of satisfaction, altruism, income and fairness increases, the payment voluntariness of consumers increases. Finally, it has reached that the participants can be in a positive attitude towards the promotion and company applying this method.