Utilization of facial expression analysis in the pricing strategy formulation

Abstract

Abstract Value-based pricing is one of the pricing strategies to determine the appropriate price plan based on the product’s value. This article examines how the facial expression of the customer can be used to measure intention to buy for the price plan developed by value-based pricing. The results of this study indicate that participants’ positive emotions were significantly higher than negative emotions for all the products displayed formulated using value-based pricing, consistent with the self-reported questionnaire result. In conclusion, facial expression measured by FaceReader can be used to validate the price plan formulated using value-based pricing.