search query: @indexterm CONSUMER EXPECTATIONS / total: 100
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| Author: | Bolton, L. E. Warlop, L. Alba, J. W. |
| Title: | Consumer Perceptions of Price (Un)Fairness |
| Journal: | Journal of Consumer Research
2003 : MAR, VOL. 29:4, p. 474-491 |
| Index terms: | CONSUMERS CONSUMER EXPECTATIONS CONSUMER BEHAVIOUR PRICES PERCEPTION |
| Language: | eng |
| Abstract: | A series of studies demonstrates that consumers are inclined to believe that the selling price of a good or service is substantially higher than its fair price. Consumers appear sensitive to several reference points-including past prices, competitor prices, and cost of goods sold-but underestimate the effects of inflation, overattribute price differences to profit, and fail to take into account the full range of vendor costs. Potential corrective interventions-such as providing historical price information, explaining price differences, and cueing costs- were only modestly effective. These results are considered in the context of a four-dimensional transaction space that illustrates sources of perceived unfairness for both individual and multiple transactions. |
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