How anchoring and self-confidence level influence perceived saving on tensile price claim framing

Qiu, Landie; Cranage, David A.; Mattila, Anna S.

doi:10.1057/rpm.2015.49

Cited by 5 publications

(8 citation statements)

References 42 publications

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“…This might be owing to the Indian millennial generation being born in a post-liberalized India with forces of globalization and social media influencing and shaping their consumer behaviour. This finding adds a new Indian dimension to the existing body of literature focused on west (e.g., Bearden et al, 2001;Chang, 2013;Qiu et al, 2016;Rezaei, 2015). This study also found a significant positive relationship between public self-consciousness and price perception of the Indian millennial.…”

Section: Discussionsupporting

confidence: 71%

“…Self-confidence increases the possibility of choosing the higher-priced product in a choice set when consumer’s price-quality schema is strong and vice versa (Bearden et al, 2001). Qiu et al (2016) found that highly self-confident customers, being more optimistic and risk-seeking, are more likely to use higher price as a perception anchor while less confident customers, being more conservative and self-doubting, are more likely to use low price as a perception anchor. Consumers having high retrieval and processing confidence, coupled with resulting positive effect, perceive a high-priced product to be of a higher quality than a low-priced product (Chang, 2013).…”

Section: Review Of Literature and Hypothesis Developmentmentioning

confidence: 99%

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Factors Influencing Price Perception for Fashion: Study of Millennials in India

Wani

2021

Vision: The Journal of Business Perspective

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Indians are culturally conditioned to be price sensitive, but do the Indian millennials hold similar price perception for fashion. This paper provides new insights into the price perception of Indian millennials for fashion and is the first to examine the influence of fashion involvement and personality traits viz., self-confidence and public self-consciousness with fashion innovativeness as a mediator and zodiac signs as a moderator on price perception with specific focus on price-quality schema of Indian millennials. A conclusive, descriptive and single cross-sectional research design was used to collect data from Indian millennials using a self-completion questionnaire. The model fit and hypothesized relationships between the variables were assessed using AMOS, a covariance-based structural equation modeling technique. The results indicate a statistically significant relationship between personality traits and price perception of Indian millennials for fashion. The mediating effect of fashion innovativeness was not found. The moderating effect of zodiac signs was observed. This study contributes to the understanding of the price perception of Indian millennials and brings to light a new dimension of the moderating role of zodiac signs. The results provide valuable inputs to the marketers in designing their marketing strategies.

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Section: Discussionsupporting

confidence: 71%

Section: Review Of Literature and Hypothesis Developmentmentioning

confidence: 99%

Factors Influencing Price Perception for Fashion: Study of Millennials in India

Wani

2021

Vision: The Journal of Business Perspective

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“…Being developed in a managerial context and on a longitudinal perspective, the new model builds on the anchoring and adjustment framing of human decision and adds new variables and connections to the previous models. In the context of decision making, anchoring refers to relying on the available initial information, information that can further influence the decision but that will decline over time when adjustment knowledge will be accessible ( Cohen and Reed, 2006 ; Qiu et al, 2016 ). Thus, the anchor variables, as device self-efficacy [perceived abilities to perform a specific task using a certain technology ( Compeau and Higgins, 1995 )], perception of external control [perceived control and resources on using a certain technology ( Venkatesh et al, 2003 )], and device anxiety (fear on using a certain technology) are considered as influencing the perceived ease of use ( Venkatesh and Bala, 2008 ).…”

Section: Introductionmentioning

confidence: 99%

Interacting with chatbots later in life: A technology acceptance perspective in COVID-19 pandemic situation

Iancu

2023

Front. Psychol.

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IntroductionWithin the technological development path, chatbots are considered an important tool for economic and social entities to become more efficient and to develop customer-centric experiences that mimic human behavior. Although artificial intelligence is increasingly used, there is a lack of empirical studies that aim to understand consumers’ experience with chatbots. Moreover, in a context characterized by constant population aging and an increased life-expectancy, the way aging adults perceive technology becomes of great interest. However, based on the digital divide (unequal access to technology, knowledge, and resources), and since young adults (aged between 18 and 34 years old) are considered to have greater affinity for technology, most of the research is dedicated to their perception. The present paper investigates the way chatbots are perceived by middle-aged and aging adults in Romania.MethodsAn online opinion survey has been conducted. The age-range of the subjects is 40–78 years old, a convenience sampling technique being used (N = 235). The timeframe of the study is May–June 2021. Thus, the COVID-19 pandemic is the core context of the research. A covariance-based structural equation modelling (CB-SEM) has been used to test the theoretical assumptions as it is a procedure used for complex conceptual models and theory testing.ResultsThe results show that while perceived ease of use is explained by the effort, the competence, and the perceive external control in interacting with chatbots, perceived usefulness is supported by the perceived ease of use and subjective norms. Furthermore, individuals are likely to further use chatbots (behavioral intention) if they consider this interaction useful and if the others’ opinion is in favor of using it. Gender and age seem to have no effect on behavioral intention. As studies on chatbots and aging adults are few and are mainly investigating reactions in the healthcare domain, this research is one of the first attempts to better understand the way chatbots in a not domain-specific context are perceived later in life. Likewise, judging from a business perspective, the results can help economic and social organizations to improve and adapt AI-based interaction for the aging customers.

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“…Additionally, the effectiveness of tensile price claims has been linked to consumer selfconfidence. Qiu et al (2016) found that high-potential discounts are effective primarily among highly self-confident consumers. Conversely, Lambrecht and Tucker (2017) argued that maximum discount promotions generally reduce ad clicks and product additions to shopping carts.…”

Section: Price Discounts By Tensile Price Claims and Consumers' Respo...mentioning

confidence: 99%

“…Previous studies highlight the importance of positive consumer affect in evaluating sales promotions. In the context of tensile price claims, the literature reveals both positive outcomes and situations where these claims are more or less effective (Biswas and Burton, 1993;Biswas and Burton, 1994;Mobley et al, 1988;Xia et al, 2010;Dhar et al, 1999;Goldsmith and On, 2010;Lee, 2019;Lambrecht and Tucker, 2017;Qiu et al, 2016;Lee and Stoel, 2016). Despite extensive research, there has been limited focus on mitigating the negative impact of these price discounts on PI (Zuniga and Lepre, 2023).…”

Section: Introductionmentioning

confidence: 99%

The effect of discount discrepancy on purchase intention: the moderation of justification

Zuniga Huertas,

Ferreira Lepre,

Torres Urdan

2024

MRR

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Purpose This paper aims to clarify the effect of discount discrepancy (DD) on consumers’ purchase intention (PI). The authors propose, test and provide evidence and explanations about the moderation of justification in the relation between consumers’ perceived DD and PI. Design/methodology/approach The authors conducted three experimental studies with a 2 × 2 factorial design, focusing on consumers’ processing of price discounts. Participants were informed that this study aimed to gather opinions on fashion, clothing and retail sales promotions. They accessed the questionnaire via Qualtrics. Each participant took part in only one study. The experimental conditions were manipulated through scenarios. Findings Study 1 tested and supported the moderation of justification on the effect of DD on PI. Study 2 tested and supported the moderation of the type of justification for the effect of DD on PI. Study 3 confirmed the findings in Study 2 and revealed the more effective type of justification. Research limitations/implications The authors focused on a typically hedonic product category (fashion clothing). Further research should include a wider variety of goods and services, which could lead to different explanations or generalizations. Practical implications Sales promotions must refrain from generating DD between the initial price discount and the subsequent smaller discounts. Practitioners must evaluate the gains of an initial, more considerable percentage discount to attract consumers to the store and sell them other products versus the cost of losing sales because of DD. Management should recognize the importance of giving the correct justification for perceived DD, aligning the firm’s justification with the consumer’s motivation to buy the product. Social implications The authors offer subsidies for effective consumer protection policies. Originality/value By studying the influence of justification on the effect of DD on PI, the authors propose a mechanism that would reduce the negative effect of DD on consumers’ PI.

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How anchoring and self-confidence level influence perceived saving on tensile price claim framing

Cited by 5 publications

References 42 publications

Factors Influencing Price Perception for Fashion: Study of Millennials in India

Factors Influencing Price Perception for Fashion: Study of Millennials in India

Interacting with chatbots later in life: A technology acceptance perspective in COVID-19 pandemic situation

The effect of discount discrepancy on purchase intention: the moderation of justification

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