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
SN - 1061-0421
VL - 13
SP - 390
EP - 405
JO - Journal of Product and Brand Management
JF - Journal of Product and Brand Management
IS - 6
ER -