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

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

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

Rok uplatnění

2022

Kód důvěrnosti údajů

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

Název periodika

Innovative Marketing

ISSN

1814-2427

e-ISSN

1816-6326

Svazek periodika

18

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

UA - Ukrajina

Počet stran výsledku

12

Strana od-do

212-223

Kód UT WoS článku

000858617400018

EID výsledku v databázi Scopus

2-s2.0-85133862141