Contextual Effects of Reference Prices in Retail Advertisements

Reference prices, which are extensively used in retail advertisements, have received considerable research attention over the last 15 years. The authors examine how reference prices in advertisements affect consumers’ price beliefs and behavioral intentions in different contexts. A model of reference price effects is proposed and tested. The model facilitates explanation of anomalous findings in previous research.

[1]  Carl I. Hovland,et al.  Reconciling conflicting results derived from experimental and survey studies of attitude change. , 1959 .

[2]  Clive W. J. Granger,et al.  On the Price Consciousness of Consumers , 1961 .

[3]  C. Sherif,et al.  Social categorization as a function of latitude of acceptance and series range. , 1963, Journal of abnormal and social psychology.

[4]  H. Helson,et al.  Adaptation-level theory , 1964 .

[5]  K. B. Monroe The Information Content of Prices: A Preliminary Model for Estimating Buyer Response , 1971 .

[6]  G. Mcdougall,et al.  Consumer Appraisal of Retail Price Advertisements , 1974 .

[7]  Jacob Beck,et al.  Adaptation-level theory. , 1974 .

[8]  E. Berkowitz,et al.  Contextual Influences on Consumer Price Responses: An Experimental Analysis , 1980 .

[9]  C. W. Park,et al.  Familiarity and Its Impact on Consumer Decision Biases and Heuristics , 1981 .

[10]  Edward Blair,et al.  The Effects of Reference Prices in Retail Advertisements , 1981 .

[11]  K. B. Monroe,et al.  Consumer Perceptions of Comparative Price Advertisements , 1981 .

[12]  Joel Huber,et al.  The Impact of Inferential Beliefs on Product Evaluations , 1982 .

[13]  P. F. Secord,et al.  Implications for psychology of the new philosophy of science. , 1983 .

[14]  Johny K. Johansson,et al.  Image Variables in Multi-Attribute Product Evaluations: Country-of-Origin Effects , 1984 .

[15]  V. Rao Pricing Research in Marketing: The State of the Art , 1984 .

[16]  Louise A. Heslop,et al.  Reference Prices and Deception in Newspaper Advertising , 1985 .

[17]  Mental Accounting and Consumer Choice , 1985 .

[18]  Russell S. Winer,et al.  A reference price model of brand choice for frequently purchased products. , 1986 .

[19]  James R. Bettman,et al.  Sampling Data for Covariation Assessment: The Effect of Prior Beliefs on Search Patterns , 1986 .

[20]  Noreen H. Klein,et al.  Cognitive Reference Points in Consumer Decision Making , 1987 .

[21]  J. W. Hutchinson,et al.  Dimensions of Consumer Expertise , 1987 .

[22]  James G. Helgeson,et al.  Price Expectation and Price Recall Error: An Empirical Study , 1987 .

[23]  Advertised Comparative Price Effects on Buyer Perceptions and Behavior: a Model and Empirical Test , 1988 .

[24]  D. Lichtenstein,et al.  An investigation of consumer evaluations of reference price discount claims , 1988 .

[25]  Dan C. Weilbaker,et al.  The Effect of Plausible and Exaggerated Reference Prices on Consumer Perceptions and Price Search , 1988 .

[26]  Donald R. Lichtenstein,et al.  Contextual Influences on Perceptions of Merchant-Supplied Reference Prices , 1989 .