Effects of Reference Prices on Evaluations of Discounts Público
Zhang, Canyun (2012)
Abstract
Abstract
Effects of Reference Prices on Evaluations of Discounts
The research reported in this paper explores the effects of
price framing on consumer
evaluation of discounts using reference prices as the key
manipulation. In the context of
a within-subjects experimental design, subjects engaged in a
hypothetical shopping task
where they rated five different variables related to discount
evaluations. One price frame
that included both original and sale reference prices emerged as
especially effective in
enhancing reported levels of savings, though statistically
significant differences among
discount frames do not hold across the other measured variables of
satisfaction, extent of
savings, and intent of additional or future purchase. Additional
analysis suggests that the
roles of internal price estimates and price anchoring are
demonstrated to be empirically
plausible and offer explanations of the ways reference prices can
in fact influence
perceptions of discounts.
Table of Contents
Table of Contents
I.
Introduction.......................................................................................................................1
II.
Background.......................................................................................................................3
III. Hypotheses and
Approach...................................................................................................8
IV.
Methodology....................................................................................................................12
V.
Results............................................................................................................................15
VI.
Conclusions.....................................................................................................................20
VII.
References.....................................................................................................................22
VIII.
Appendix.......................................................................................................................24
List of Figures
1. Discount Price Frames Included in the
Study............................................................................9
2. Discount Frames Presented at Each
Retailer............................................................................13
List of Tables
1. Pre-task Questions - Summary Statistics for Shopping
Preferences..............................................24
2. Product Listings at Retailers Q, W, Z,
X..................................................................................25
3. Variables Measured and
Coding.............................................................................................26
4. Variables and Response Percentage Across
Retailers.................................................................27
5. Comparison of Variables - Descriptive Statistics Across
Retailers.................................................28
6. Direct Retailer
Comparison....................................................................................................29
7. Retailer Discount
Ranking.....................................................................................................30
8. Friedman's Test for Differences Among
Retailers.......................................................................31
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