Managing price changes: Role of consumer thinking styles on perceived price fairness and purchase intention

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F22%3A63553418" target="_blank" >RIV/70883521:28120/22:63553418 - isvavai.cz</a>

Result on the web

<a href="https://www.businessperspectives.org/index.php/journals/innovative-marketing/issue-406/managing-price-changes-role-of-consumer-thinking-styles-on-perceived-price-fairness-and-purchase-intention" target="_blank" >https://www.businessperspectives.org/index.php/journals/innovative-marketing/issue-406/managing-price-changes-role-of-consumer-thinking-styles-on-perceived-price-fairness-and-purchase-intention</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21511/im.18(2).2022.18" target="_blank" >10.21511/im.18(2).2022.18</a>

Result language

angličtina

Original language name

Managing price changes: Role of consumer thinking styles on perceived price fairness and purchase intention

Original language description

Consumers expect companies to practice fair pricing. Understanding the underlying cognitive mechanism that determines consumers’ price fairness perceptions is significant. It could help mitigate negative outcomes from unfairness perceptions and place firms in a better competitive position. This study examines the role of consumers’ thinking styles in perceived price fairness and purchase intention in a price increase situation. An online experiment was conducted wherein 171 participants across India, primarily from tier-1 cities frequently using car rental services, took part from September to December 2021. The majority of the participants (72) were 21-30 years old (42%). All involved participants met the initial criteria of using car rental services at least once a week. Proposed hypotheses were checked by one-way ANOVA following Tukey post hoc test and PROCESS. One-way ANOVA results shows a significant influence of thinking styles on cognitive attribution with large effect size, F(2, 168) = 28.04, p &lt; .001, η2 = 0.25; presents a significant influence of thinking styles on perceived price fairness with large effect size, F(2, 168) = 30.07, p &lt; .001, η2 = .0.26; demonstrates a significant influence of thinking styles on purchase intention F(2, 168) = 19.94, p &lt; .001, η2 = .0.19. Findings revealed that, in the face of a price increase occurrence, consumers thinking holistically and analytically differ in perceived price fairness and purchase intention. Furthermore, holistic thinkers with higher cognitive attribution perceive a price increase as fairer. Thereby, they have higher purchase intention than analytic thinkers.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2022

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Innovative Marketing

ISSN

1814-2427

e-ISSN

1816-6326

Volume of the periodical

18

Issue of the periodical within the volume

2

Country of publishing house

UA - UKRAINE

Number of pages

12

Pages from-to

212-223

UT code for WoS article

000858617400018

EID of the result in the Scopus database

2-s2.0-85133862141