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| Author: | Smith, G. E. Nagle, T. T. |
| Title: | Frames of reference and buyers' perception of price and value (Verbraucherforschung, sales management) |
| Journal: | California Management Review
1995 : FALL, VOL. 38:1, p. 98-116 |
| Index terms: | |
| Freeterms: | PREISPOLITIK, KUNDE |
| Language: | eng |
| Abstract: | Value is what the customer 'gets' in relation to what the customer 'gives'. The question is how the presentation of price and benefits to customers can influence their perceptions of the value received. Some of the potentially useful research focuses on 'framing' or 'frames of reference' that can change the relationship between what customers perceive they pay and what they perceive they get in return. This article provides managers with a summary of the framing research and its relationship with the psychology of price and value, as well as managerial recommendations. |
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