Psychological Distance and the Dual Role of Price
AbstractWhen evaluating a product, consumers may interpret price information as either an indicator of quality or an indicator of monetary sacrifice. On the basis of construal level theory, we propose that psychological distance alters the weight consumers attach to these opposing roles of price. Four experiments show (1) that from both a temporally and a socially distant perspective, the price–perceived quality relationship is more pronounced; (2) that from a temporally proximal perspective, the price–perceived sacrifice relationship is more pronounced; (3) that these effects stem from differences in the way consumers mentally construe price information; and (4) that when people initially use price to judge a product for distant future consumption, it receives less attention as an indicator of sacrifice in a later evaluation for near future consumption. These findings have implications for prelaunch communication activities and preference elicitation methods such as conjoint analysis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Consumer Research.
Volume (Year): 38 (2011)
Issue (Month): 3 ()
Pages: 490 - 504
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JCR/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Franziska Völckner & Alexander Rühle & Martin Spann, 2012. "To divide or not to divide? The impact of partitioned pricing on the informational and sacrifice effects of price," Marketing Letters, Springer, vol. 23(3), pages 719-730, September.
- Chia-Jung Chang, 2013. "Price or quality? The influence of fluency on the dual role of price," Marketing Letters, Springer, vol. 24(4), pages 369-380, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division).
If references are entirely missing, you can add them using this form.