Download or read book An Experimental Inquiry Into the Formation of Reference Prices written by Piyush Kumar and published by . This book was released on 1993 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Experimental Examination of the Effects of Order of Presentation on the Formation of Internal Reference Prices written by James Irwin Gray and published by . This book was released on 1990 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pricing Strategy and the Formation and Evolution of Reference Price Perceptions in New Product Categories written by Benjamin Lowe and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract : This study examines how pioneer and follower pricing strategies affect the formation and evolution of reference price perceptions in new product categories. It contributes to our understanding of pricing new products by integrating two important research streams in the field of marketing - reference price theory and the theory of pioneer brand advantage. This is the first research to address reference price effects for radically new product categories. Prior research has focused solely on products in existing categories, typically in fast moving consumer goods categories. Using three experiments to causally establish the consequences of pioneer and follower pricing strategies on consumer perceptions, three critical research issues are addressed for the first time, consistent with calls for research in the literature: 1. Which reference price do consumers utilise in new product categories? 2. What is the role of consumer confidence in reference price for new product categories? 3. How do reference price perceptions form and evolve as a result of pioneer and follower pricing strategy? In the literature, a frequently cited issue is the fragmented operationalisation of reference price perceptions. With little theory to guide researchers in terms of which measures should be used, experiment 1 provides new theory, finding as hypothesised, that fair price perceptions as opposed to expected price perceptions are more likely to be evoked by consumers for new product categories. Experiment 1 also finds that using consumers' confidence in their reference price beliefs as an additional explanatory variable, does not improve over current reference price models. Overconfidence, a robust consumer behavioural phenomenon (Alba and Hutchinson 2000), might explain this result. Prior research has made several contributions to understanding reference price perceptions in established product categories. However, not much is known about how these reference price perceptions initially form and evolve. Experiments 2 and 3 address this gap by simulating an emerging market and examining the role of pioneership in shaping reference price perceptions. Experiment 2 found the pioneer, due to its perceptual prominence, is able to define the reference price and subsequently define perceptions of value. That is, the value consumers place on a product and their intentions to purchase the product are about the same whether the pioneer follows a penetration (initial low price) or skimming (initial high price) strategy. Experiment 3 extends experiment 2 by examining what happens in the emerging market when a follower brand enters. The follower enters at a large or small discount to the pioneer, and the pioneer completes its penetration or skimming strategy, converging to a 'regular' price. As predicted, the pioneer's initial price frames subsequent price and value perceptions, signifying the importance of the pioneer as a referent brand. Lower initial prices erode value perceptions, whereas higher initial prices substantiate value perceptions. The follower's pricing strategy does not have as much influence as the pioneer's pricing strategy. Other findings from experiment 3 related to reference price theory in general. Specifically, there was strong evidence of an averaging process when forming reference prices. This adds theory to the measurement debate about operationalising reference price as some past price such as last price paid or some average of past prices. Experiment 3 also provides a further measurement contribution by supporting the use of brand specific measures of reference price, rather than category based measures. More generally, because of the causal research design, this thesis provides strong evidence of the use of reference prices in consumer decision making: a key concern emphasised by one of the area's seminal articles (i.e., Kalyanaram and Winer 1995), which stresses the need to provide evidence that consumers actually use reference prices, and not just act as if they do.
Download or read book Paper written by and published by . This book was released on 1998 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Formation and Adaptation of Reference Prices by Manitoban Grain Farmers written by Jamie Poirier and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumers0 9 Use of an Expected Future Price as a Reference An Investigation of the Psychological and Contextual Antecedents written by Atul A. Kulkarni and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers often use an expected future price of a product as a reference for judging the current price, and consequently make purchase decisions such as whether to buy and how much to buy. Extant literature has acknowledged the use of an expected future price of a product in formation of price judgments in relatively expensive and infrequently purchased product categories such as technological products and consumer durables. Although previous research has argued that consumers may also use an expected future price as a reference in the relatively inexpensive, frequently purchased categories such as consumer packaged goods, research has not clearly identified the factors that may lead consumers to use an expected future price as a reference in these product categories. The current dissertation research addresses this research gap in the extant literature by investigating the factors that may lead to the use of an expected future price of a product as a reference in formation of price judgments. Specifically, the current dissertation research argues for and provides evidence in support of the influence of contextual factors such as the frequency of price promotions, temporal pattern of price promotions, and price trends as the factors that may lead to the use of an expected future price as a reference. Further, the current research also discusses the influence of psychological factors such as consumers0́9 motivation to process price information and their mode of acquisition of price information in the use of an expected future price as a reference. The current dissertation research contributes to marketing theory in the areas of behavioral pricing and consumers0́9 forward looking behaviors. In the area of behavioral pricing, this research contributes to the discussion on reference prices by identifying the factors that may lead to the use of expected future prices as a reference. In the area of consumers0́9 forward looking behaviors, the current research contributes by showing direct evidence to the psychological mechanisms underlying the purchase timing and quantity decisions in response to the frequency and temporal pattern of price promotions. The current dissertation research also contributes to managerial understanding of consumers0́9 likely responses to the frequency of price promotions, temporal pattern of price promotions, and price trends. The research findings suggest that when a brand is promoted frequently, it may influence consumers0́9 expectations about the future promotions, and consumers may try to postpone their purchases during a regular period to a promotional period. Further, the research findings suggest if a brand is promoted less frequently, then consistently (versus randomly) spaced promotions are less likely to lead to the use of expected future prices as a reference. The research findings imply that managers may want to promote their brands relatively infrequently and keep their price promotions consistently spaced in order to minimize the likelihood of purchase postponement during regular periods.
Download or read book An experimental inquiry into the effects of parameters of price structure on buyers price judgments written by Nonyelu Godwin Nwokoye and published by . This book was released on 1975 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Formation and Role of Reference Prices in the Choice of Consumer Services written by Jutta Matti Laitamaki and published by . This book was released on 1990 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Athenaeum written by and published by . This book was released on 1845 with total page 1278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Law of One Price and a Theory of the Firm written by Shailendra Raj Mehta and published by . This book was released on 1994 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Athenaeum written by and published by . This book was released on 1845 with total page 1276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Abstracts of the Papers Printed in the Philosophical Transactions of the Royal Society of London written by Royal Society (Great Britain) and published by . This book was released on 1837 with total page 1054 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Macroeconomics of Self fulfilling Prophecies by Roger E A Farmer a Review Article written by Kenneth James Matheny and published by . This book was released on 1995 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Labor Command in the Wealth of Nations written by Glenn Russell Hueckel and published by . This book was released on 1997 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prepacks written by Elizabeth Tashjian and published by . This book was released on 1994 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Research of the National Bureau of Standards written by United States. National Bureau of Standards and published by . This book was released on 1974 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Civil engineer and architect s journal written by and published by . This book was released on 1839 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt:
