In an era when price rules as one of the most important factors on the path to purchase, is it fair to question the impact of constant price promotion? Leonard Lee and Claire Tsai, researchers at the University of Chicago think so. Their detailed analysis of consumer behavior and attitudes regarding price promotion, just published in the Journal of Consumer Research, draws significant conclusions about discounting and its impact on brand value and loyalty. The bottom line is that marketers who sell products intended for immediate use and consumption have the most to gain from this practice.