search query: @author Winer, R. / total: 7
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| Author: | Kalyanaram, G. Winer, R. |
| Title: | Empirical generalizations from reference price research |
| Journal: | Marketing Science
1995 : VOL. 14:3/2-2, p. G161-G169 |
| Index terms: | PRICES BRAND CHOICE DECISION MAKING |
| Language: | eng |
| Abstract: | Considerable theoretical justification for consumers' use of psychological reference points exists from the research literature. From a managerial perspective, one of the most important applications of this concept is reference price, an internal standard against which observed prices are compared. In this paper the authors propose three empirical generalizations that are well-supported in the marketing literature. First, thee is ample evidence that consumers use reference prices in making brand choices. Second, the empirical results on reference pricing also support the generalization that consumers rely on past prices as part of the reference price formation process. |
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