Abstract
This study examines the behavior of consumer in fast food industry. The customer psychology strongly effected from other customer’s word of mouth, review’s and pricing policy of a company. In this study, we examine the consumer psychology with three factors (referent price, referent deservingness and fair pricing). The three factors become a cause to reduce the anger of consumer and due to this customer satisfy from the operations of fast food industry. We distribute more than 300 questionnaire for analyze our research hypothesis. After analyze we conclude that referent price does not impact on customer anger but it impact on satisfaction of customer. The referent deservingness and price fairness has significant impact on anger of customer and satisfaction of customer. This study provides useful information to fast food sector regarding customer psychology.
Highlights
Fast food is a highly growing industry in the present era (Trafialek et al, 2019)
A large number of people don’t like fast food, they depend on traditional food, because traditional food has a low price as compared to fast food, and it provides more energy to human body as compared to fast food (Suhud et al, 2020)
The traditional market based on traditional food and places it earning a lot of revenue due to the attraction of national and international visitors (Suhud & Wibowo, 2016)
Summary
Fast food is a highly growing industry in the present era (Trafialek et al, 2019). Fast Food that food who needs very little time for preparation and serving a customer; most of the people like it very much, as compared to traditional food due to its price and its delicious taste (Xiao, Yang, & Iqbal, 2018). It’s suggested, that in 2050 60% more food will be produced for the 9 billion people in the world (FAO, 2019). In Pakistan it’s the second-largest industry and ranks 8th worldwide, it contributes 16% in total employment. More than 1000 large food processing corporations operate here. Even every person spends approximately 42% of its income on food and retail sales 10% expand annually. The fast food business is growing 20% annually
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