The dual role of price: decomposing consumers' reactions to price

Vöckner, Franziska
September 2008
Journal of the Academy of Marketing Science;Fall2008, Vol. 36 Issue 3, p359
Academic Journal
The article discusses product pricing strategies, examining the role the price of a product plays in choices made by consumers. Topics include the sacrifice effect of price, wherein consumers decide how much money they are willing to sacrifice in order to meet their consumption needs, and the informational cue effect, where consumers get relative product information due to the price of a product. Also discussed are consumers' stated preference about products, consumer's beliefs and attitudes, and changes in price response drivers.


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