The Price Knowledge and Search of Supermarket Shoppers

Dickson, Peter R.; Sawyer, Alan G.

doi:10.2307/1251815

Cited by 559 publications

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“…For example, Dickson and Sawyer (1990) questioned shoppers just after they selected a product from the supermarket shelf and observed that less than half were able to state the correct exact price. Recalled prices varied greatly and, on average, fell lower than the actual price.…”

mentioning

confidence: 99%

Developing Intuition for Prices in Euros: Rescaling or Relearning Prices?

Marques¹,

Dehaene²

2004

Journal of Experimental Psychology: Applied

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This article examines how numerical intuition for prices develops after a major change in currency. University students in Portugal (Study 1) and Austria (Study 2) made price estimates for 40 different items from November 2001 to June 2002, surrounding the time at which these countries switched to the euro. Overall results are more in accordance with a relearning hypothesis, considering that price estimates become progressively more accurate by a process that is related to buying frequency and, hence, is faster for frequently bought items. An alternative global rescaling hypothesis received mixed support. Results also suggest that price estimations in euros have not yet reached a level of accuracy comparable with estimations in the former national currency.

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mentioning

confidence: 99%

Developing Intuition for Prices in Euros: Rescaling or Relearning Prices?

Marques¹,

Dehaene²

2004

Journal of Experimental Psychology: Applied

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“…The potential influence of price importance on the degree of price awareness among consumers was analyzed, and a significant percentage of those lacking price awareness affirmed they considered price as irrelevant (ROSA, 2004). It was also found that the greater the attention paid to prices, the more accurately they are remembered (DICKSON and SAWYER, 1990;KUJALA and JOHNSON, 1993). This suggests their importance in the decisionmaking process.…”

Section: Literature Review the Importance Of Price In Purchase Decisionsmentioning

confidence: 97%

“…In short, brand loyalty is apparently one of the fundamental reasons why buyers do not always pay attention to price (DICKSON and SAWYER, 1990;MEYER-WAARDEN, 2008;RONDÁN, 2004). This is due to the fact that they have higher internal reference prices and greater preference for quality, innovation and prestige (STAMER and DILLER, 2006).…”

Section: Brand Loyaltymentioning

confidence: 99%

“…At the same time, some behavioral and psychological theories of consumer behavior and information processing such as the adaptation level theory (HELSON, 1964), the assimilation-contrast theory (SHERIF and HOV-LAND, 1965), the Weber-Fechner law (MONROE, 1971), and the prospect theory (KAHNEMAN and TVERSKY, 1979) are rooted, at least implicitly, on the premise that consumers are aware of prices: prices are evaluated, codified, and integrated in memory. However, previous research in this area have shown this assumption not to be always correct (e.g., DICKSON and SAWYER, 1990;MCGOLDRICK and MARKS, 1987;VANHUELE and DRÈZE, 2002); consumers do not make a deliberate and conscious effort to process the prices of the products they buy (MAZUMDAR and MONROE, 1990).…”

Section: Introductionmentioning

confidence: 99%

“…Some of these are directly related to price: accuracy of consumers' knowledge of prices (KUJALA and JOHNSON, 1993;ROSA, 2004); attention to price (DICKSON and SAWYER, 1990); use of price information (MAZUMDAR and MONROE, 1990); and tendency regular price comparison (VANHUELE and DRÈZE, 2002). Other aspects of purchase behavior that have been analyzed in relation to the importance of price are customer satisfaction (ANDERSON, 1996) and the effects of advertising (KALRA and GOODSTEIN, 1998).…”

Section: Introductionmentioning

confidence: 99%

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Antecedents of the importance of price in purchase decisions

Díaz

Cataluña²

2011

Rev. adm. empres.

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This paper analyses the commercial and sociodemographic antecedents of the importance of price in buyers' decisions. The study uses ordinal regression in order to analyze the data obtained from a random sample of consumers of frequently purchased products; these consumers were surveyed in different stores. The results demonstrate that shopping enjoyment and brand loyalty have an influence over the importance of price. However, responsibility for shopping (purchase frequency) does not show a significant relationship. Furthermore, some interesting socio-demographic characteristics were found in the context of the study that can be analyzed in future research.ABSTRACT RESUMO Este artigo analisa os antecedentes comerciais e sóciodemográficos da importância do preço nas decisões dos compradores. O estudo utiliza a regressão ordinal a fim de analisar os dados obtidos a partir de uma amostra aleatória de consumidores de produtos comprados com freqüência; as pesquisas com estes consumidores foram realizadas em lojas diferentes. Os resultados demonstram que o prazer de compra e a fidelidade à marca influenciam a importância do preço. No entanto, a responsabilidade pela compra (freqüência de compra) não demonstra relação significativa. Ademais, foram encontradas algumas características sóciodemográficas interessantes no contexto do estudo, as quais podem ser analisado em pesquisas futuras. PALAVRAS-CHAVE Importância do preço, a fidelidade à marca, freqüência de compras, prazer, regressão ordinal. Resumen Este artículo analiza los antecedentes comerciales y sociodemográficos de la importancia del precio en las decisiones de los compradores. El estudio utilizala regresión ordinal para analizar los datos obtenidos a partir de una muestra aleatoria de consumidores de productos comprados con frecuencia; las investigaciones con estos consumidores fueron realizadas en negocios diferentes. Los resultados demuestran que el placer de la compra y la fidelidad a la marca influencian la importancia del precio. Sin embargo, la responsabilidad por la compra (frecuencia de compra) no demuestra relación significativa. Además, fueron encontradas algunas características sociodemográficas interesantes en el contexto del estudio, las cuales pueden ser analizadas en investigaciones futuras.Palabras clave Importancia del precio, la fidelidad a la marca, frecuencia de compras, placer, regresión ordinal.

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Dynamic Pricing Under Consumer Reference‐Price Effects

Arslan

Kachani

2011

Wiley Encyclopedia of Operations Research and Management Science

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In this article, we explore the current‐state of literature on how dynamic pricing models incorporate consumer reference‐price effects in developing more informed dynamic pricing strategies for products that have repeated consumer interactions. We first examine the literature on how consumer demand is impacted by reference‐price effects and how consumers form reference prices through their purchase experience. We then explore, in detail, the dynamic pricing models with consumer reference‐price effects in major studies, in order to highlight their key findings and insights. We conclude our review by pointing out research gaps and future research directions on dynamic pricing area in the presence of consumer reference‐price effects.

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The Price Knowledge and Search of Supermarket Shoppers

Cited by 559 publications

References 0 publications

Developing Intuition for Prices in Euros: Rescaling or Relearning Prices?

Developing Intuition for Prices in Euros: Rescaling or Relearning Prices?

Antecedents of the importance of price in purchase decisions

Dynamic Pricing Under Consumer Reference‐Price Effects

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