On the Price Consciousness of Consumers

Abstract

The authors report on an enquiry they carried out in Nottingham, to determine the extent to which housewives are conscious of the price of an article at the time of its purchase. They find that for many of the fifteen grocery products covered, a high proportion of housewives were aware of the prices, although the proportion varied somewhat between the products. The results of the enquiry are analysed in several ways and their implications discussed.

Perceptions and expectations of price changes and inflation: A review and conceptual framework

“…Early research into this found that consumers do not always remember the actual prices last paid for specific goods (e.g. Behrend, 1977;Gabor & Granger, 1961). More recent work by Dickson and Sawyer (1990) reported that more than half of shoppers questioned could not remember the price of items they had just put into a shopping cart (see Monroe & Lee, 1999, for an updated review).…”

Modelling Consumer Price Cognition: Evidence from Discount and Superstore Sectors

“…Older shoppers have been found to be particularly inaccurate in their price recollections by some [Gabor and Granger, 1961;Goldman, 1977;Tantiwong and Wilton, 19851, although Wakeman and Inman [I9931 contest this age differential. Neither did Krishna, Currim and Shoemaker [I9911 find gender to be related to recall accuracy.…”

“…Partch and Litvak, 19901 and personal home interviews [e.g. Gabor and Granger, 1961 ;Goldman, 19771. Memory through cognitive elaboration.…”

Promotions and product pricing: Parsimony versus Veblenesque demand

“…The use of price as a quality cue is generally viewed as suggesting a violation. Leavitt (1954), Gabor and Granger (1961, 1966, and Tull et al (1964) are "classic" references to "single-cue" experiments where price is the only quality cue. These studies indicate that participants who are given "free" choices (that is, where purchases are made by experiments' participants) between similar goods labeled with different prices tend to choose and perceive greater satisfaction from those goods that are labeled with higher prices.…”