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

Keywords

  • consumer behaviour
  • retailing
  • prices
  • marketing

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