Retailer Pricing Strategy and Consumer Choice under Price Uncertainty
Bibliographic Data
| ID | 2223993 |
|---|---|
| Authors | Shai Danziger, Liat Hadar (0000-0002-4218-6881), Vicki G Morwitz (0000-0002-7983-9604) |
| Year | 2014 |
| Volume | 41 |
| Issue | 3 |
| Pages | 761-774 |
| Publication date | 2014-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Consumer Research (JOURNAL) |
| Journal identifiers | ISSN: 0093-5301 • E-ISSN: 1537-5277 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1086/677313 |
| OpenAlex | W2167665306 |
| Language | EN |
| Citations received | 9 |
| References cited | 33 |
This research examines how consumers choose retailers when they are uncertain about store prices prior to shopping. Simulating everyday choice, participants made successive retailer choices where on each occasion they chose a retailer and only then learned product prices. The results of a series of studies demonstrated that participants were more likely to choose a retailer that offered an everyday low pricing strategy (EDLP) or that offered frequent small discounts over a retailer that offered infrequent large discounts. This choice advantage for the retailer that was cheaper more often manifested even when its average price was judged to be higher. The same results were obtained when choices were made a day apart, when price feedback was only given for the chosen retailer, and when price feedback was given for both retailers. Participant's expectations of future prices but not their judgments of retailer's past average prices predicted their subsequent retailer choice
Advertising · Business · Consumer choice · Economics · Microeconomics · Product (mathematics) · Consumer Market Behavior and Pricing · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Marketing
Analysis of factors affecting the purchase of private label products by different age consumers
Factors affecting the purchase of private label food products
Description Versus Experience for Decisions About Discounts
The Attraction Effect in Experience‐based Decisions
Choice bracketing and experience‐based choice
Cross cultural differences in decisions from experience
When Is Hilo Low? Price Image Formation Based on Frequency versus Depth Pricing Strategies
Click or Skip
Not Just about Price
Lacking Control Increases Illusory Pattern Perception
Mental Accounting and Consumer Choice
Decisions from Experience and the Effect of Rare Events in Risky Choice
Loss Aversion in Riskless Choice
Prospect Theory
Small feedback‐based decisions and their limited correspondence to description‐based decisions
The effect of foregone payoffs on underweighting small probability events
The generalizability of salience effects
The Influence of Prior Beliefs, Frequency Cues, and Magnitude Cues on Consumers' Perceptions of Comparative Price Data
Integration of Serially Sampled Price Infromation
A Reexamination of Frequency-Depth Effects in Consumer Price Judgments
The Effect of Discount Frequency and Depth on Consumer Price Judgments
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,82 |
| Citation span | 2015 - 2023 (9) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 9 |