Do consumers really know if the price is right ? Direct measures of references price are their implications for retailing
Reference price research suggest that consumers memorize and recall price information when selecting brands for frequently purchased products. In this study, we show that previous price-knowledge surveys provided imperfect estimates of reference price. Further, we propose to use a combination of price recall, price recognition, and deal recognition to measure representations to memorize prices. In addition we identify consumer and product characteristics that explain the variations in price knowledge.
|Date of creation:||01 Sep 2000|
|Date of revision:|
|Contact details of provider:|| Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France|
Web page: http://www.hec.fr/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Schindler, Robert M & Kirby, Patrick N, 1997. " Patterns of Rightmost Digits Used in Advertised Prices: Implications for Nine-Ending Effects," Journal of Consumer Research, Oxford University Press, vol. 24(2), pages 192-201, September.
- Urbany, Joel E & Dickson, Peter R, 1991. " Consumer Normal Price Estimation: Market versus Personal Standards," Journal of Consumer Research, Oxford University Press, vol. 18(1), pages 45-51, June.
- 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 408-18, December.
- Stiving, Mark & Winer, Russell S, 1997. " An Empirical Analysis of Price Endings with Scanner Data," Journal of Consumer Research, Oxford University Press, vol. 24(1), pages 57-67, June.
- Briesch, Richard A, et al, 1997. " A Comparative Analysis of Reference Price Models," Journal of Consumer Research, Oxford University Press, vol. 24(2), pages 202-14, September.
When requesting a correction, please mention this item's handle: RePEc:ebg:heccah:0711. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sandra Dupouy)
If references are entirely missing, you can add them using this form.