Consumer price knowledge in the German retail market

Evanschitzky, Heiner; Kenning, Peter; Vogel, Verena

doi:10.1108/10610420410560299

Cited by 61 publications

(40 citation statements)

References 45 publications

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“…By doing so, German retailers, in particular, could improve their low revenue by increasing prices moderately for products with low price knowledge. This seems quite feasible, because, in contrast to other similarly-conceptualized studies that focus on the food industry (Evanschitzky et al, 2004), the PEE in the apparel market is, despite its medium to high-involvement character, rather low. This may be due to substantial price and product-differentiation in the apparel market and the short life-cycles of fashion products (Hartmann, 2000).…”

Section: Resultsmentioning

confidence: 96%

“…These methods influence the accuracy of price knowledge, as evidenced by the results of two studies from Conover (1986, p. 592) which are based on different methods. Interviews administered before shopping, as consumers enter the store, reveals information about price knowledge stored in long-term memory (Evanschitzky et al, 2004). Post-purchase interviewing, on the other hand, reveals what is stored in the short-term memory.…”

Section: Literature Reviewmentioning

confidence: 99%

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Consumer price knowledge in the market for apparel

Kenning

Evanschitzky

Vogel

et al. 2007

International Journal of Retail &Amp; Distribution Management

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Purpose -The aim of this study is to analyze consumers' price knowledge in the market for apparels. Design/methodology/approach -After reviewing earlier attempts at assessing the construct, the price estimation error "PEE" was used, a measure based on explicit price knowledge stored in long-term memory, as a valid indicator of price knowledge. Findings -The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low. Originality/value -Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market.

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Section: Resultsmentioning

confidence: 96%

Section: Literature Reviewmentioning

confidence: 99%

Consumer price knowledge in the market for apparel

Kenning

Evanschitzky

Vogel

et al. 2007

International Journal of Retail &Amp; Distribution Management

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View full text Add to dashboard Cite

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“…However, asking consumers about pricing issues can sometimes be ineffective. For instance, consumers are often not able to recall prices (Vanhuele and Drèze, 2002;Evanschitzky et al, 2004), and it is very difficult for them to specify abstract economic concepts like the ''willingness to pay'' or experienced utility. In addition, they might respond strategically when asked about constructs like price fairness.…”

Section: Price Policymentioning

confidence: 99%

A current overview of consumer neuroscience

Hubert

Kenning

2008

J of Consumer Behaviour

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244

193

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The emerging discipline of neuroeconomics employs methods originally used in brain research for investigating economic problems, and furthers the advance of integrating neuroscientific findings into the economic sciences. Neuromarketing or consumer neuroscience is a sub-area of neuroeconomics that addresses marketing relevant problems with methods and insights from brain research. With the help of advanced techniques of neurology, which are applied in the field of consumer neuroscience, a more direct view into the ''black box'' of the organism should be feasible. Consumer neuroscience, still in its infancy, should not be seen as a challenge to traditional consumer research, but constitutes a complementing advancement for further investigation of specific decision-making behavior. The key contribution of this paper is to suggest a distinct definition of consumer neuroscience as the scientific proceeding, and neuromarketing as the application of these findings within the scope of managerial practice. Furthermore, we aim to develop a foundational understanding of the field, moving away from the derisory assumption that consumer neuroscience is about locating the ''buy button'' in the brain. Against this background the goal of this paper is to present specific results of selected studies from this emerging discipline, classified according to traditional marketing-mix instruments such as product, price, communication, and distribution policies, as well as brand research. The paper is completed by an overview of the most prominent brain structures relevant for consumer neuroscience, and a discussion of possible implications of these insights for economic theory and practice.

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“…It focuses instead on price knowledge of long-term memory. By doing so, we follow the method of Vanhuele and Dr è ze (p. 74), 5 Evanschitzky et al 7 and Kenning et al 8 …”

Section: Sample Characteristicsmentioning

confidence: 99%

“…In doing so, we followed the concepts of Evanschitzky et al 7 and Kenning et al 8 With the help of the regional store management, we selected a total of 20 products. We recruited all our respondents in this study from one major German city, and in one relatively short period of time between May and June 2005.…”

Section: Sample Characteristicsmentioning

confidence: 99%

On the validity of price knowledge measurements via self-assessment scales: Two studies in retailing

Eberhardt

Kenning²,

Schneider

2009

J Target Meas Anal Mark

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Price knowledge as a psychological construct has been one of the top behavioural pricing themes in the last four decades. Because the price of a product has a major infl uence on the buying decision, it is natural to focus on this issue. However, the broad range of aims of these studies, and the range of measurement methods for the construct, have produced differences in fi ndings. Accordingly, in order to enable the practice to use at least some fi ndings on price knowledge for marketing purposes, there is a need for more methodological research. In response to this need, our study aimed to prove the validity of the scales that are frequently used to measure price knowledge. We organised two studies employing two times two within the subjects ' factorial design. One factor addresses the method for measuring price knowledge (that is, self-assessment versus percentage absolute deviation (PAD)), and the other factor addresses the retail branch of our study (food versus clothes). In the food sample, we found two signifi cant correlations between self-assessment and PAD. In the clothing sample, we found no such correlations. We conclude that care has to be taken when self-assessment scales are used to measure price knowledge.

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Consumer price knowledge in the German retail market

Cited by 61 publications

References 45 publications

Consumer price knowledge in the market for apparel

Consumer price knowledge in the market for apparel

A current overview of consumer neuroscience

On the validity of price knowledge measurements via self-assessment scales: Two studies in retailing

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