The impact of internal and external reference prices on brand choice: The moderating role of contextual variables
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Consumers’ choice of private label considering reference price and moderating effect
2023, Journal of Retailing and Consumer ServicesReference price effect of partially similar online products in the consideration stage
2022, Journal of Business ResearchEmpirical Analyses of Nonlinear Effects of Reserve Prices on Ending Prices in Online Auctions
2021, Journal of Interactive MarketingCitation Excerpt :Previous research has shown that external reference prices may serve as reference points or anchors upon which consumers base their internal reference prices and willingness to pay (e.g., Chandrashekaran and Grewal, 2003; Grewal et al., 1998; Winer, 1986; Yadav and Seiders, 1998). The level of the reference price is expected to influence consumers, such that their product valuation will be closer to the level of the external reference price (Kumar et al., 1998; Mayhew and Winer, 1992; Mazumdar and Papatla, 2000; Kopalle and Lindsey-Mullikin, 2003; Mazumdar, Raj, and Sinha, 2005). Hence, higher reference prices are expected to have a greater impact on WTP.
Consumer reactions to price discounts across online shopping experiences
2019, Journal of Retailing and Consumer ServicesFuture of Retailer Profitability: An Organizing Framework
2017, Journal of RetailingCitation Excerpt :Store-level promotional pricing strategies are particularly important for retailers as Hoch et al. (1995) confirmed that a customer’s demographic characteristics affect price elasticity more than market factors like a competitor’s store distance or store format. Though convenience and assortment affect a customer’s store choice (Briesch, Chintagunta, and Fox 2009), pricing also plays a major role in the decision (Bell and Lattin 1998) as does brand choice (Kumar et al. 1998). Another stream of literature finds that reference price can increase profits on promotions via recurring pricing strategy (Greenleaf 1995; Kopalle, Rao, and Assuncao 1996).
Pricing practices: A critical review of their effects on consumer perceptions and behaviour
2014, Journal of Retailing and Consumer ServicesCitation Excerpt :Simonson (1992) found that consumers were more likely to purchase an item available at a promotional sale price when asked to imagine how they would feel if they had waited until a later date to make their purchase and then missed out on the offer as a result. Various studies have also found that time pressure or time constraints can increase consumer perceptions of value (Vermeir and Van Kenhove, 2005; Tan and Chua, 2004; Suri et al., 2003; Dahr and Nowlis, 1999; Kumar et al., 1998), as well as drive their choice to high quality/low risk brands (Nowlis, 1995). However, these studies are useful only in so far as they describe how people would react if they actually felt the time pressure in an advertised time-limited offer.