Review of Literature

The research will incorporate a significant number of previous research studies in order to shed light on the subject of the study. Previous research studies will include those by the likes of Richarme, Ariely, the University of Minnesota Extension Centers for Family Development and 4-H Youth Development, Nehf, Smith & Brynjolfsson, Yoon, Cole & Lee, Reynolds & Olson, Kunkel & Wellin, Roth, Sutherland & Sylvester, Foxall and Goldsmith, & Brown. However, the research shall be in no manner limited to the literature by these authors and shall also make use of credible websites alongside numerous other peer reviewed publications throughout the study.

Proposed Research Method

In consideration of the nature of the research, the research methodology will be one that will be based on the accumulation, evaluation and analysis of primary data and secondary data. While the secondary data will be acquired during the development of the literature review of the study, the primary data shall be obtained through the application of research instruments. For this purpose, the survey questionnaire is a research instrument that can be brought into use to acquire a working knowledge and thorough understanding of the significance of price to customers’ decision making.


The research shall be carried out with the utmost care and diligence. Nevertheless, the presence of unexpected or unforeseen limitations shall not be ignored (Thomas, Nelson & Silverman, 2005). Limitations such as the limitation of time and resources along with participant bias are amongst limitations of primary concern in this regard. Since the limitation set present in a research is an area that forms a major part of the authenticity of a research, the limitations shall be discussed extensively in the research methodology chapter of the study.


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