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Do Payment Mechanisms Change the Way Consumers Perceive Products?

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  • Promothesh Chatterjee
  • Randall L. Rose
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    Abstract

    Do payment mechanisms change the way consumers perceive products? We argue that consumers for whom credit cards (cash) have been primed focus more on benefits (costs) when evaluating a product. In study 1, credit card (cash) primed participants made more (fewer) recall errors regarding cost attributes. In a word recognition task (study 2), participants primed with credit card (cash) identified more words related to benefits (costs) than those in the cash (credit card) condition. In study 3, participants in the credit card (cash) condition responded faster to benefits (costs) than to costs (benefits). This differential focus led credit card primed consumers to express higher reservation prices (studies 1–3) and also affected their product choices (study 4) relative to those primed with cash.

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    File URL: http://www.jstor.org/stable/pdfplus/10.1086/661730
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    File URL: http://www.jstor.org/stable/full/10.1086/661730
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    Bibliographic Info

    Article provided by University of Chicago Press in its journal Journal of Consumer Research.

    Volume (Year): 38 (2012)
    Issue (Month): 6 ()
    Pages: 1129 - 1139

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    Handle: RePEc:ucp:jconrs:doi:10.1086/661730

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    Web page: http://www.journals.uchicago.edu/JCR/

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    Cited by:
    1. Luqiong Tong & Yuhuang Zheng & Ping Zhao, 2013. "Is money really the root of all evil? The impact of priming money on consumer choice," Marketing Letters, Springer, vol. 24(2), pages 119-129, June.
    2. Promothesh Chatterjee & Randall Rose & Jayati Sinha, 2013. "Why money meanings matter in decisions to donate time and money," Marketing Letters, Springer, vol. 24(2), pages 109-118, June.
    3. Nava Ashraf & Diego Aycinena & Claudia Martinez & Dean Yang, 2014. "Savings in Transnational Households: A Field Experiment among Migrants from El Salvador," NBER Working Papers 20024, National Bureau of Economic Research, Inc.

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