Do consumers really know if the price is right ? Direct measures of references price are their implications for retailing

Reference price research suggest that consumers memorize and recall price information when selecting brands for frequently purchased products. In this study, we show that previous price-knowledge surveys provided imperfect estimates of reference price. Further, we propose to use a combination of price recall, price recognition, and deal recognition to measure representations to memorize prices. In addition we identify consumer and product characteristics that explain the variations in price knowledge.price knowledge; reference price; retailing

Consumers' immediate memory for prices

In this article, the authors examine the cognitive mechanics involved in keeping prices in short-terme memory for subsequent recall. Consumers code and store prices verbally, visually, and in terms of their magnitude. The encoding used influences immediate recall performance. The memorability of prices depends on their verbal length, usualness and overall magnitude. They find that the performance of consumers recall prices better than what previous digit span studies with simple numbers have suggested.consumer behavior; numerical cognition; price memory

An Empirical Investigation of the Impact of Communication Timing on Customer Equity

This research examines the impact of communication frequency on customer retention and spending and thus,ultimately,on a firm\u27s Customer Equity (CE). We conduct an empirical study in the context of permission-based e-mail marketing in the entertainment industry and find that intercommunication timing has a dramatic impact on customer behavior. Message scheduling affects both attrition and the customer response and thus has a critical impact on the value of one\u27s customer base. The impact of intercontact duration is asymmetric in that too long intercommunication time is less problematic than too short intercommunication time

Do consumers really know if the price is right ? Direct measures of reference price and their implications for retailing

SIGLEAvailable from INIST (FR), Document Supply Service, under shelf-number : DO 7327 / INIST-CNRS - Institut de l'Information Scientifique et TechniqueFRFranc