Customers’ price awareness and perception will often
effect how price changes impact revenue. Both the
availability and quality of price information, such as
current interest rates and charges, as well as a bank’s
image amongst customers, play an important role in
determining this relationship. The image of a price will
influence customers most when their prices knowledge of
the financial product in question is low. Indeed
research shows that psychological effects, if taken into
consideration when designing products and services, can
have a significant impact on sales revenue. pdf
