Behavioral Economy and Marketing Strategic: Relationship
For book purchase reader case example, book publishers can attempt to apply behavioral economy method to predict reader individual reading behaviors.
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For book purchase reader case example, book publishers can attempt to apply behavioral economy method to predict reader individual reading behaviors. I shall explain as below: When a student chooses a book to buy to learn. He/she will compare different publishers' books sale price and contents whether which book is the cheapest or the book is not the cheapest, but the book's content is more utility or achieves whose economic benefit to let him/her to feel . So, the teaching book's the cheapest price is not the main influential factor to persuade any students to chooe to buy it preferable. But, if the teaching book's content can achieve the student's expected learning utility or learning expected value. Then, the student won't choose not to buy the teaching book, even it's price is more expective to compare other similar topics' teaching books. Therefore, the teaching book's higher sale price which compares other similar topic teaching books. This factor which won't influence any students choose not to buy this teaching book, if it's teaching content can help almost students to feel it can help or assist them to pass the subject courses' tests or examinations more easily consequently. So, students usually make decisions to choose to buy which publishers' subject teaching book, they won't only evaluate which subject teaching book is the cheapest book price factor, then they will follow the cheapest book price factor to decide to buy the subject teaching book. Book price is not the absolute reason to persuade or attract readers to buy the subject book in publishing industry. It includes other intangible factors to influence readers to choose to buy the book to read. For example, comparision the book content attractive factor, e.g. which book can let the reader to feel the most fun when he/she read the story book, which teaching book's content can let the student to feel its every topic is useful to help him/her to learn to earn higher marks for examination or test, the book words or pages number whether it is reasonable paper length value for the reader's the minimum reading need, the book's cover appearance whether it is attractive or book's photos colors or images whether they are attractive. So, all these non-money related sale price intangible feeling factors will influence book consumers how to make whose final reading book purchase choice in every reader individual choice process. Also, it seems that publishers can apply behavioral economy method to attemtp to predict how any why whose reader individual reading behavior when he/she will change their book purchase habitual decision in order to avoid their old readers who feel their old publishing books can bot keep attractive or unique contents to persuade them to choose to buy their books easily.