Consumer price knowledge in the German retail market

Heiner Evanschitzky, Peter Kenning, Verena Vogel

Research output: Contribution to journalArticle

Abstract

Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo-American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long-term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.
Original languageEnglish
Pages (from-to)390-405
Number of pages16
JournalJournal of Product and Brand Management
Volume13
Issue number6
DOIs
Publication statusPublished - 2004

Fingerprint

Error analysis
Data storage equipment
Costs
Consumer prices
Price knowledge
Retail market
Germany

Keywords

  • consumer behaviour
  • retailing
  • prices
  • marketing

Cite this

Evanschitzky, Heiner ; Kenning, Peter ; Vogel, Verena. / Consumer price knowledge in the German retail market. In: Journal of Product and Brand Management. 2004 ; Vol. 13, No. 6. pp. 390-405.
@article{5a7cb52a791642ecb60f974ebbd65afa,
title = "Consumer price knowledge in the German retail market",
abstract = "Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo-American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long-term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.",
keywords = "consumer behaviour, retailing, prices, marketing",
author = "Heiner Evanschitzky and Peter Kenning and Verena Vogel",
year = "2004",
doi = "10.1108/10610420410560299",
language = "English",
volume = "13",
pages = "390--405",
journal = "Journal of Product and Brand Management",
issn = "1061-0421",
publisher = "Emerald Group Publishing Ltd.",
number = "6",

}

Consumer price knowledge in the German retail market. / Evanschitzky, Heiner; Kenning, Peter; Vogel, Verena.

In: Journal of Product and Brand Management, Vol. 13, No. 6, 2004, p. 390-405.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Consumer price knowledge in the German retail market

AU - Evanschitzky, Heiner

AU - Kenning, Peter

AU - Vogel, Verena

PY - 2004

Y1 - 2004

N2 - Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo-American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long-term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.

AB - Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo-American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long-term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.

KW - consumer behaviour

KW - retailing

KW - prices

KW - marketing

UR - http://www.emeraldinsight.com/journals.htm?articleid=857861&show=abstract

U2 - 10.1108/10610420410560299

DO - 10.1108/10610420410560299

M3 - Article

VL - 13

SP - 390

EP - 405

JO - Journal of Product and Brand Management

JF - Journal of Product and Brand Management

SN - 1061-0421

IS - 6

ER -