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Measuring the price knowledge shoppers bring to the store

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Reference price research suggests that consumers memorize and recall price information when selecting brands for frequently purchased products. Previous price-knowledge surveys, however, indicate that memory for prices is lower than expected. This study shows that these price-knowledge surveys provide imperfect estimates of price knowledge, because they focus only on recall and short-term memory. Instead, this study proposes to use a combination of price recall, price recognition, and deal recognition to measure the degree to which consumers use auditory verbal, visual Arabic, or analogue magnitude representations to memorize prices. The paper shows how the combination of these three measures provides a much richer understanding of consumers' knowledge of prices. The results suggest that the price knowledge involved in reference prices may often not be accessible to recall but shows up in price recognition and deal recognition. In addition, consumer and product characteristics that explain the variations in price knowledge are identified, for example: frequent promotions increase consumers' ability to remember regular prices and store switchers do not possess better price knowledge than other shoppers.Printed Journal

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Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	American Marketing Association.,
Edisi	-
Subjek	Statistical analysis Retail Stores Shopping Recall Hypotheses Pricing policies studies
ISBN/ISSN	222429
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data