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Setting Fair Prices – Fundamental Principle Of Sustainable Marketing


Author Info

  • Iacob Cătoiu

    (Academy of Economic Studies, Bucharest, Romania)

  • Diana Maria Vrânceanu

    (Academy of Economic Studies, Bucharest, Romania)

  • Alina Filip

    (Academy of Economic Studies, Bucharest, Romania)


In commercial area, the price has a major importance, being frequently considered among the main criteria used in buying decision process. Price fairness derives from equity theory and it is focused on assuring in a transaction a reasonable report between the customer’s sacrifice and the value offered by the seller. In three marketing experiments we have evaluated customers’ fairness perceptions of differential prices, this tactic being frequently used by sellers. One important finding was that the motive for setting differential prices is important in fairness evaluation. Price differences based on social motives are perceived fairer than those motivated by company’s interest. The differential prices on customer category are perceived fairer than zone prices. In all three marketing experiments it was demonstrated that price fairness has a significant influence on value perception and on buying intentions. Fair prices setting is one of the principles sustainable marketing is based on, reflecting a long term orientation for a company. By following this decisional direction, the commercial firm increases the value offered to its customers and it becomes more socially responsible.

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Bibliographic Info

Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

Volume (Year): 12 (2010)
Issue (Month): 27 (February)
Pages: 115-128

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Handle: RePEc:aes:amfeco:v:12:y:2010:i:27:p:115-128

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Related research

Keywords: sustainable development; sustainable marketing; fair price; price fairness; differential prices; distributive fairness; procedural fairness;

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  1. Kelly L. Haws & William O. Bearden, 2006. "Dynamic Pricing and Consumer Fairness Perceptions," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 33(3), pages 304-311, October.
  2. Goodwin, Cathy & Ross, Ivan, 1992. "Consumer responses to service failures: Influence of procedural and interactional fairness perceptions," Journal of Business Research, Elsevier, Elsevier, vol. 25(2), pages 149-163, September.
  3. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, American Economic Association, vol. 76(4), pages 728-41, September.
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Cited by:
  1. Catoiu, Iacob & Vranceanu, Diana Maria & Tatu, Cristian, 2010. "Framing Influence on Fairness Perceptions of Differential Prices," Journal for Economic Forecasting, Institute for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 158-172, September.
  2. Hans Ruediger Kaufmann & Mohammad Fateh Ali Khan Panni & Yianna Orphanidou, 2012. "Factors Affecting Consumers’ Green Purchasing Behavior: An Integrated Conceptual Framework," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, Academy of Economic Studies - Bucharest, Romania, vol. 14(31), pages 50-69, February.
  3. Nicolae Al Pop & Mihaela Roman & Adina Săniuţă & Carmen Petrişoaia, 2012. "Relationship Marketing, Engine of Sustainable Development and Organisational Change in the Romanian Business Environment," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 349-364, June.


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