A Study on Consumers' Learning Effect in the Price Reduction Auction: a case study of Gongtianxia

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Xu, Yanan; Yang, Bo; Zhang, Rong; Xie, Pengfei
Price reduction auction; Learning effect; Consumer purchase decision theory
conference paper description
GongTianXia’s "7 days shot" and "15 minutes shot" is a very typical online price reduction auction. By studying the learning effect of consumers in this online price reduction auction, this paper hopes to provide some suggestions for the formulation of marketing strategy of GongTianXia. Through the research of related literature and the deep analysis of consumer purchasing decision theory, the research problem is divided into two aspects. First, with the increase in the number of participants, whether the proceeds of the auction goods are gradually increasing. Second, with the increase in the number of participants, whether the grasp of the timing is more and more accurate. Through the statistical analysis of the auction data of GongTianXia, this paper verified the existence of consumer learning effect in the price reduction auction.