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- Title
`Sweet Lemons': Illusory Quality, Self-Deceivers, Advertising, and Price.
- Authors
Parker, Philip M.
- Abstract
The author's study suggests that competition can lead to low-quality advertisers competing against and gaining market shares from lower-priced, high-quality non-advertisers. Evidence in support of this market outcome comes from optometry, a service that has experienced advertising deregulation over the past two decades. The author discusses various explanations of this outcome, including the possibility that self-deceiving consumers relying on "illusory qualities" believe they can judge product quality as measured by the firm, though they cannot. Thus, those consumers are ultimately satisfied with low-quality products at high prices--"sweet lemons."
- Subjects
CONSUMER attitude research; CONSUMER behavior research; MARKETING research; PRODUCT quality; ECONOMIC competition; INDUSTRIAL concentration; ELASTICITY (Economics); BRANDING (Marketing); PRICING -- Social aspects; MARKETING strategy; ADVERTISING; ADVERTISING effectiveness
- Publication
Journal of Marketing Research (JMR), 1995, Vol 32, Issue 3, p291
- ISSN
0022-2437
- Publication type
Article
- DOI
10.2307/3151982