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Seemingly incidental anchoring: the effect of incidental environmental anchors on consumers’ willingness to pay

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  • Kivilcim Dogerlioglu-Demir

    ()

  • Cenk Koçaş

    ()

Abstract

This article explores the influence of seemingly incidental numbers on willingness to pay as a function of internal reference price strength. Four experiments suggest that anchoring effects occur only when consumers hold weak internal reference prices for the target product. For products with strong internal reference prices, anchoring occurs if the numerical value is part of the product identity and resembles a price. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Kivilcim Dogerlioglu-Demir & Cenk Koçaş, 2015. "Seemingly incidental anchoring: the effect of incidental environmental anchors on consumers’ willingness to pay," Marketing Letters, Springer, vol. 26(4), pages 607-618, December.
  • Handle: RePEc:kap:mktlet:v:26:y:2015:i:4:p:607-618
    DOI: 10.1007/s11002-014-9295-0
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    References listed on IDEAS

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    1. Noussair, Charles & Robin, Stephane & Ruffieux, Bernard, 2004. "Revealing consumers' willingness-to-pay: A comparison of the BDM mechanism and the Vickrey auction," Journal of Economic Psychology, Elsevier, vol. 25(6), pages 725-741, December.
    2. Kalyanaram, Gurumurthy & Little, John D C, 1994. " An Empirical Analysis of Latitude of Price Acceptance in Consumer Package Goods," Journal of Consumer Research, Oxford University Press, vol. 21(3), pages 408-418, December.
    3. Dan Ariely & George Loewenstein & Drazen Prelec, 2003. ""Coherent Arbitrariness": Stable Demand Curves Without Stable Preferences," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 73-106.
    4. Mussweiler, Thomas & Strack, Fritz, 2001. "The Semantics of Anchoring," Organizational Behavior and Human Decision Processes, Elsevier, vol. 86(2), pages 234-255, November.
    5. Gurumurthy Kalyanaram & Russell S. Winer, 1995. "Empirical Generalizations from Reference Price Research," Marketing Science, INFORMS, vol. 14(3_supplem), pages 161-169.
    6. Adaval, Rashmi & Monroe, Kent B, 2002. " Automatic Construction and Use of Contextual Information for Product and Price Evaluations," Journal of Consumer Research, Oxford University Press, vol. 28(4), pages 572-588, March.
    7. Tavassoli, Nader T & Han, Jin K, 2001. " Scripted Thought: Processing Korean Hancha and Hangul in a Multimedia Context," Journal of Consumer Research, Oxford University Press, vol. 28(3), pages 482-493, December.
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