The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/24599 |
Resumo: | Price promotions are a ubiquitous practice in the retail market and often consumers are overwhelmed by the variety of price schemes. Using a natural field experiment with a jewelry store, the present study tested the price framing effect and customer experience in purchase decision. The price framing effect was tested using three similar products offered alongside one another: 1 control with the regular price, 2 treatments designed to provide a positive transaction utility and price-quality perception - their prices were initially raised and then proportional discounts (10% and 20%) were applied, so that the final prices of all products amounted to be the same. The effect of customer experience was observed measuring the sales of two customers groups with different experience levels: retail customers (less experienced consumers) and wholesale customers (more experienced since they work as resellers). However, the hypotheses of the study were not confirmed, since the products treated with the price framing effect presented regression coefficients with low statistical significance, for both retail and wholesale customers. Considering that the experiment manipulated both price and discount, current literature on the subject indicates that the effects of quality perception that both present ended up conjoint and led to a null result. Some possible avenues to isolate these effects, as well as other lessons learned in the experiment, are discussed for future research. |
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Jhun, Janete Hee YounEscolas::EESPYoshinaga, Claudia EmikoAndrade, Eduardo BittencourtFerman, Bruno2018-08-23T12:23:22Z2018-08-23T12:23:22Z2018-08-10http://hdl.handle.net/10438/24599Price promotions are a ubiquitous practice in the retail market and often consumers are overwhelmed by the variety of price schemes. Using a natural field experiment with a jewelry store, the present study tested the price framing effect and customer experience in purchase decision. The price framing effect was tested using three similar products offered alongside one another: 1 control with the regular price, 2 treatments designed to provide a positive transaction utility and price-quality perception - their prices were initially raised and then proportional discounts (10% and 20%) were applied, so that the final prices of all products amounted to be the same. The effect of customer experience was observed measuring the sales of two customers groups with different experience levels: retail customers (less experienced consumers) and wholesale customers (more experienced since they work as resellers). However, the hypotheses of the study were not confirmed, since the products treated with the price framing effect presented regression coefficients with low statistical significance, for both retail and wholesale customers. Considering that the experiment manipulated both price and discount, current literature on the subject indicates that the effects of quality perception that both present ended up conjoint and led to a null result. Some possible avenues to isolate these effects, as well as other lessons learned in the experiment, are discussed for future research.Promoções de preço são práticas onipresentes no mercado varejista e frequentemente os consumidores se sentem sobrecarregados com a variedade de esquemas de preço. Através de um experimento de campo natural com uma loja de semi-joias, o presente estudo testou o efeito do framing de preço e experiência do cliente na decisão de compra. O efeito do framing de preço foi testado através de três produtos similares oferecidos um ao lado do outro: 1 controle com o preço regular, 2 tratamentos desenhados para prover uma utilidade transacional e percepção de qualidade positivas - os seus preços foram aumentados inicialmente e depois descontos proporcionais (10% e 20%) foram aplicados, chegando ao mesmo preço final. O efeito da experiência do cliente foi observado com a mensuração das vendas de dois grupos de clientes com diferentes níveis de experiência: clientes de varejo (consumidores menos experientes) e clientes de atacado (mais experientes pois atuam como revendedores). No entanto, as hipóteses do estudo não foram confirmadas, dado que os produtos tratados com o efeito de framing de preço apresentaram coeficientes de regressão com baixa significância estatística, para ambos os clientes de varejo e atacado. Considerando que o experimento manipulou tanto preço como desconto, a literatura atual sobre o tema indica que os efeitos de qualidade percebida que ambos apresentam acabaram se conjugando e podem ter levado a um resultado nulo. Alguns caminhos possíveis para isolar estes efeitos, bem como outras lições aprendidas no experimento, são discutidos para pesquisa futura.engPrice framingCustomer experiencePurchase decisionTransaction utilityPrice-quality relationFraming de preçoExperiência do consumidorDecisão de compraUtilidade transacionalRelação preço-qualidadeEconomiaPreçosVendas - PromoçãoComportamento do consumidorProcesso decisórioEconomia - Aspectos psicológicosThe effect of price framing and customer experience in purchase decision: field experiment with a jewelry storeinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVTEXTDissertaçãoMPE_JaneteJhun_v59.pdf.txtDissertaçãoMPE_JaneteJhun_v59.pdf.txtExtracted 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|
dc.title.eng.fl_str_mv |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
title |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
spellingShingle |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store Jhun, Janete Hee Youn Price framing Customer experience Purchase decision Transaction utility Price-quality relation Framing de preço Experiência do consumidor Decisão de compra Utilidade transacional Relação preço-qualidade Economia Preços Vendas - Promoção Comportamento do consumidor Processo decisório Economia - Aspectos psicológicos |
title_short |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
title_full |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
title_fullStr |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
title_full_unstemmed |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
title_sort |
The effect of price framing and customer experience in purchase decision: field experiment with a jewelry store |
author |
Jhun, Janete Hee Youn |
author_facet |
Jhun, Janete Hee Youn |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EESP |
dc.contributor.member.none.fl_str_mv |
Yoshinaga, Claudia Emiko Andrade, Eduardo Bittencourt |
dc.contributor.author.fl_str_mv |
Jhun, Janete Hee Youn |
dc.contributor.advisor1.fl_str_mv |
Ferman, Bruno |
contributor_str_mv |
Ferman, Bruno |
dc.subject.eng.fl_str_mv |
Price framing Customer experience Purchase decision Transaction utility Price-quality relation |
topic |
Price framing Customer experience Purchase decision Transaction utility Price-quality relation Framing de preço Experiência do consumidor Decisão de compra Utilidade transacional Relação preço-qualidade Economia Preços Vendas - Promoção Comportamento do consumidor Processo decisório Economia - Aspectos psicológicos |
dc.subject.por.fl_str_mv |
Framing de preço Experiência do consumidor Decisão de compra Utilidade transacional Relação preço-qualidade |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Preços Vendas - Promoção Comportamento do consumidor Processo decisório Economia - Aspectos psicológicos |
description |
Price promotions are a ubiquitous practice in the retail market and often consumers are overwhelmed by the variety of price schemes. Using a natural field experiment with a jewelry store, the present study tested the price framing effect and customer experience in purchase decision. The price framing effect was tested using three similar products offered alongside one another: 1 control with the regular price, 2 treatments designed to provide a positive transaction utility and price-quality perception - their prices were initially raised and then proportional discounts (10% and 20%) were applied, so that the final prices of all products amounted to be the same. The effect of customer experience was observed measuring the sales of two customers groups with different experience levels: retail customers (less experienced consumers) and wholesale customers (more experienced since they work as resellers). However, the hypotheses of the study were not confirmed, since the products treated with the price framing effect presented regression coefficients with low statistical significance, for both retail and wholesale customers. Considering that the experiment manipulated both price and discount, current literature on the subject indicates that the effects of quality perception that both present ended up conjoint and led to a null result. Some possible avenues to isolate these effects, as well as other lessons learned in the experiment, are discussed for future research. |
publishDate |
2018 |
dc.date.accessioned.fl_str_mv |
2018-08-23T12:23:22Z |
dc.date.available.fl_str_mv |
2018-08-23T12:23:22Z |
dc.date.issued.fl_str_mv |
2018-08-10 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/24599 |
url |
http://hdl.handle.net/10438/24599 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
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FGV |
institution |
FGV |
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collection |
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bitstream.checksum.fl_str_mv |
7d16ff6eb501b30bc8d7af4395150db0 3674a885472bc28a29c29a686ad9dfda dfb340242cced38a6cca06c627998fa1 22c0f92cbb81c7b814812a158e3342b6 |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
repository.name.fl_str_mv |
Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV) |
repository.mail.fl_str_mv |
|
_version_ |
1810024057175801856 |