Consumer Perception Of Price Quality And Value Pdf

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Price wars have broken out in consumer industries around the world. Retailers such as ALDI and Walmart have used price to position themselves against traditional competitors in their markets, pinching margins all around.

Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence

William B. Kent B. This paper reports an experiment on the effect of price and b. The research also investigated wi:ether perceptions differed when prices were odd or even. The results indicate that price positively influences the perception of quality, and inversely influences the perception of value and willingness to buy. Brand information enhanced the price effect, but there were no differences due to odd vs. Do buyers use price as an indicator of product quality?

Price and Customers’ Perceptions of Value

The purpose of this paper is to investigate whether the negative effect of lower prices on perceived brand quality that has been demonstrated in evaluation tasks arises in a brand choice context. The effects of lower prices on perceived quality are assessed via two laboratory experiments in which college students participated. A lower price is associated with lower perceived brand quality in Study 1's evaluation task environment. However, Study 2's results indicate a reversal of the negative effects of lower prices on perceived brand quality in an evaluation task to generally positive effects when the lower price is offered in the form of a discount in a choice task. In addition to providing evidence that fears of the detrimental effects of lower prices may be overblown, the results also provide insight to managers of brands of different levels of quality on how to manage discounts to build, or at least to insulate, perceptions of the brand's quality. The paper's findings may guide both managerial practice and future research on the effects of lower prices, particularly those in the form of a discount. DelVecchio, D.

Metrics details. Jeans were selected as the product stimulus. Web pages were developed to create a fictional online store and to collect data. A total of usable responses were collected by a research firm in the United States, and structural equation modeling was performed to analyze the data. When the direct effect of price discounts on perceived quality was examined, consumers perceived the apparel product with higher discounts as lower quality i. However, when price discount affect served as a mediator, the feelings created by a price discount led to a positive perception of product quality i. A price discount is a very prevalent marketing strategy to attract consumers by providing an extra value or incentive, which encourages consumers to purchase the promoted products immediately Yin and Huang

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The effects of lower prices on perceptions of brand quality: a choice task perspective

The results of the experiments support hypothesized linkages between a each of the four experimentally manipulated extrinsic cues and perceived quality, b price and perceived sacrifice, c perceived quality and perceived value, and d perceived sacrifice and perceived value. The results also indicate that the linkages between the extrinsic cues and perceived value are mediated by perceived quality and sacrifice. This is a preview of subscription content, access via your institution. Rent this article via DeepDyve.

This chapter summarizes the behavioral pricing research findings of price and how buyers respond to price. This includes the relationship between price and perceived value and the decision heuristics that help us understand how price influences perceptions of value and eventual product choice. The chapter also discusses how buyers trade off or compare the perceived gains arising from price-quality judgments versus the perceived sacrifice required to acquire the product or service, including whether buyers integrate price and other attribute information following a nonlinear proportional or linear subtractive process.

The effects of lower prices on perceptions of brand quality: a choice task perspective

Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence

Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. They also presume that consumers carefully calculate the give and get components of value, an assumption that did not hold true for most consumers in the exploratory study. Price as a Quality Indicator Most experimental studies related to quality have focused on price as the key extrinsic quality signal.

Product quality is one of the most crucial factors determining consumer choices. When studying the quality of clothing, it should be borne in mind that it is perceived by consumers in many different ways and, most often, has a multidimensional nature. Kim et al. According to Hines and Swinker, the factors that control the purchasing process depend on the level of consumer knowledge about product properties [ 10 ]. In general, educated consumers are more aware of the role of quality-deciding factors, and therefore assign greater value to inherent properties. According to the Hines and Swinker, extrinsic attributes are factors of secondary importance.

Creating and maintaining customer loyalty are strategic requirements for modern business. In the current competitive context, product quality, and brand experience are crucial in building and maintaining customer loyalty. Consumer loyalty, which may be classified into cognitive loyalty and affective loyalty, is related to customers' quality perception.

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