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- Title
New Directions in Reference Price Research.
- Authors
Bell, David; Biyalogorsky, Eyal; Carmon, Ziv
- Abstract
The article focuses on research into the effects of reference prices on brand choice. It comments on the examination of reference prices as an endogenous construct which determined while the models had a poor description of consumer stated price expectations, choice models could possess good predictive ability. It examines if reference prices are held by consumers in memory or if they're formed at the point of purchase. It states other aspects of consumer behavior can influence the exhibition of reference effects and considers three key research areas: the examination of reference effects other than with brand choice, empirical testing and validation of alternative constructs of reference price, and exploring reference value formation.
- Subjects
REFERENCE pricing; BRAND choice; CONSUMER behavior; CHOICE (Psychology); PREDICTION models; MEMORY
- Publication
Advances in Consumer Research, 1997, Vol 24, Issue 1, p328
- ISSN
0098-9258
- Publication type
Article