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Contextual Influences on Perceptions of Merchant-Supplied Reference Prices

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  • Lichtenstein, Donald R
  • Bearden, William O
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    Abstract

    Two contextual variables that have theoretical roots in information processing, attribution, and social judgment theories were manipulated along with three levels of merchant-supplied reference price in a 2 x 2 x 3 analysis of variance design. Results support the hypothesized effects of consistency and distinctiveness as contextual variables that influence internal price standards and purchase evaluations. The three price levels resulted in a curvilinear pattern of results for the purchase evaluation and source credibility dependent variables, as hypothesized. However, contrary to assimilation-contrast theory, the impact of the merchant-supplied reference price on estimates of normal and fair prices was monotonic. Copyright 1989 by the University of Chicago.

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    Bibliographic Info

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

    Volume (Year): 16 (1989)
    Issue (Month): 1 (June)
    Pages: 55-66

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    Handle: RePEc:ucp:jconrs:v:16:y:1989:i:1:p:55-66

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    1. Newell, Stephen J. & Goldsmith, Ronald E., 2001. "The development of a scale to measure perceived corporate credibility," Journal of Business Research, Elsevier, vol. 52(3), pages 235-247, June.
    2. Wen-Bao Lin, 2013. "Factors affecting high-involvement product purchasing behavior," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(6), pages 3113-3133, October.
    3. Chandrashekaran, Rajesh & Grewal, Dhruv, 2006. "Anchoring effects of advertised reference price and sale price: The moderating role of saving presentation format," Journal of Business Research, Elsevier, vol. 59(10-11), pages 1063-1071, October.
    4. Simonson, Itamar & Drolet, Aimee L., 2003. "Anchoring Effects on Consumers' Willingness-to-Pay and Willingness-to-Accept," Research Papers 1787, Stanford University, Graduate School of Business.
    5. Lapierre, Jozee & Filiatrault, Pierre & Chebat, Jean-Charles, 1999. "Value Strategy Rather Than Quality Strategy: A Case of Business-to-Business Professional Services," Journal of Business Research, Elsevier, vol. 45(2), pages 235-246, June.
    6. Lee, Jaedeock & Ferreira, Mauricio, 2013. "A role of team and organizational identification in the success of cause-related sport marketing," Sport Management Review, Elsevier, vol. 16(2), pages 161-172.
    7. Aurélie Merle & Catherine Hérault-Fournier, 2013. "Faut-il faire vendre un produit local par le producteur ? L’influence de sa présence sur la valeur perçue du produit et les intentions à l’égard du lieu de vente," Working Papers 244000, Institut National de la Recherche Agronomique, France.
    8. Mujahid Mohiuddin Babu & Md. Mohiuddin, 2008. "Cause Related Marketing and Its Impact on the Purchasing Behavior of the Customers of Bangladesh: An Empirical Study," AIUB Bus Econ Working Paper Series AIUB-BUS-ECON-2008-05, American International University-Bangladesh, Office of Research and Publications (ORP), revised Feb 2008.
    9. Sitzia, Stefania & Zizzo, Daniel John, 2012. "Price lower and then higher or price higher and then lower?," Journal of Economic Psychology, Elsevier, vol. 33(6), pages 1084-1099.
    10. Kondo, Hiroyuki, 2004. "Changes in the competition structure in Japan: Their effect on price competition," Journal of Business Research, Elsevier, vol. 57(3), pages 284-290, March.
    11. Andrews, Melinda L. & Benedicktus, Ray L. & Brady, Michael K., 2010. "The effect of incentives on customer evaluations of service bundles," Journal of Business Research, Elsevier, vol. 63(1), pages 71-76, January.
    12. Luini, Luigi & Sabbatini, Pierluigi, 2012. "Demand cross elasticity without substitutability: An experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(2), pages 255-265.
    13. Bearden, William O. & Carlson, Jay P. & Hardesty, David M., 2003. "Using invoice price information to frame advertised offers," Journal of Business Research, Elsevier, vol. 56(5), pages 355-366, May.
    14. Johnson, Jennifer Wiggins & Cui, Annie Peng, 2013. "To influence or not to influence: External reference price strategies in pay-what-you-want pricing," Journal of Business Research, Elsevier, vol. 66(2), pages 275-281.
    15. Gaston Breton, Charlotte, 2001. "Biais de jugement et de décision induits par un changement d'unité monétaire (l'Euro) : une approche théorique," Economics Papers from University Paris Dauphine 123456789/4234, Paris Dauphine University.
    16. Alford, Bruce L. & Engelland, Brian T., 2000. "Advertised Reference Price Effects on Consumer Price Estimates, Value Perception, and Search Intention," Journal of Business Research, Elsevier, vol. 48(2), pages 93-100, May.
    17. Carmen Lee & Roman Kraeussl & Andr� Lucas & Leonard J. Paas, 2008. "A Dynamic Model of Investor Decision-Making: How Adaptation to Losses affects Future Selling Decisions," Tinbergen Institute Discussion Papers 08-112/2, Tinbergen Institute, revised 02 Sep 2013.
    18. Yasemin Boztug & Lutz Hildebrandt, 2005. "An empirical test of theories of price valuation using a semiparametric approach, reference prices, and accounting for heterogeneity," SFB 649 Discussion Papers SFB649DP2005-057, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    19. Raghubir, Priya, 2006. "An information processing review of the subjective value of money and prices," Journal of Business Research, Elsevier, vol. 59(10-11), pages 1053-1062, October.
    20. Desmet, Pierre & Le Nagard, Emmanuelle & Vinzi, Vincenzo Esposito, 2012. "Refund depth effects on the impact of price-beating guarantees," Journal of Business Research, Elsevier, vol. 65(5), pages 603-608.

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