Shoppers' Awareness of Retail Grocery Prices

Recent studies indicate that in recent years customers' price awareness (involving both recall and sensitivity) has diminished, but it is still affected by direct means such as advertising, promotion and display, and also, at a deeper level, by socio‐economic factors. The weak product identification process in which a product's market trends, market performance and financial performance are considered by the manufacturing company are also outlined. The study of price awareness can offer important insights into the consumer buying process, and there is scope for a re‐examination of the effect of pricing in the current retail marketing scene.