![]() It does this through the replication and extension of past research. Originality/value – This research contributes by showing how the measure of reference price used affects the outcomes of price promotion studies. These findings have implications for how reference price should be measured in survey research and for pricing and promotional strategy. Research implications – Independent measurement of reference price concepts allows robust claims about their distinctiveness. ![]() Study 2 shows that one-time price promotions affect fair price, but not expected price, and Study 3 shows expected price and fair price converge after multiple promotions. Expected price and fair price appear to be conceptually and empirically distinct and should be measured separately to reduce design artifacts. Experiments allow careful control of the confounds presumed to cause the inconsistencies between studies.įindings – Study 1 shows that measurement of different reference prices within the same experiment leads to carryover effects, which inflate the correlation between measures. ![]() Specifically this study suggests that the measure of reference price employed within a study (e.g., expected price or fair price) can affect the outcomes of that study.ĭesign/methodology/approach – This research uses three separate experiments, replicating and extending existing work, to simulate purchasing decisions for products in the context of a price promotion. Purpose – The purpose of this study is to resolve inconsistencies in the literature about how one-time price promotions affect reference prices.
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