Lucky 8-ending – A case study on managerial price-ending beliefs in Macao

Ngan, Henrique Fátima Boyol; Ren, Lianping; O’Bree, Grant

doi:10.1016/j.jhtm.2018.06.002

Cited by 11 publications

(2 citation statements)

References 53 publications

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“…In contrast, Jeong and Crompton (2018) found that a discount ending in 9 for a hotel room was effective for customers in the US, Korea and China, compared to prices with an even-number ending that lacked various possible interpretations of symbolic meanings. In a similar vein, Ngan, Ren, and O’Bree (2018) found that Chinese customers believed an 8-ending to be lucky, and that it created a prestige value image, was appealing, and was traditional market practice.…”

Section: Theoretical Frameworkmentioning

confidence: 91%

“…One price research stream aims to empirically identify the efficacy of using different final digits in adjusting consumers’ perceptions of price: options include prices ending in 9 or 8; prices ending with odd numbers; and prices ending with even numbers (Guéguen et al 2009; Jeong and Crompton 2017, 2018; Lin and Wang 2017; Ngan, Ren, and O’Bree 2018). Guéguen et al (2009) discovered the sales volume of pizza was increased by adopting 9-ending prices (e.g., € 7.99) compared to 0-ending prices (e.g., € 8.00).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

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The Impact of Price Preciseness, Price Reduction, and Lay Rationalism on Travelers’ Perceptions of Deal Attractiveness, Purchase Intention, and Choice

Kim

Jhang

Kim

et al. 2022

Journal of Travel Research

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This research investigated the role of price preciseness (rounded vs. precise) in perceiving deal attractiveness, purchase intention, and choice in travel decision-making. Two competing hypotheses (price association vs. fluency) were proposed. Across five empirical studies, we found that the perceived attractiveness of a price promotion deal, along with purchase intention and relative preference, were higher when the original price was presented in a rounded (vs. precise) format (Studies 1A, 1B, and 3). This finding supports the price association-based explanation rather than the fluency-based explanation. In addition, the results were replicated in a consequential choice setting (Study 2). We further demonstrated that the effect of the price rounding is stronger for those with high (vs. low) lay rationalism, suggesting its moderating role (Study 4). The empirical findings of the current research have theoretical implications for various fields, including the behavioral pricing of travel and tourism, and practical implications for practitioners.

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Section: Theoretical Frameworkmentioning

confidence: 91%