Consistent Consumer Responses To Price Changes

A variety of exploratory laboratory–style tests compared brand–choices at different controlled prices. This has led to consistent findings across different brands and products (including durables and services) and other conditions. Price elasticity, rather than being a specific characteristic of a b...

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Bibliographic Details
Published inAustralasian marketing journal Vol. 12; no. 3; pp. 21 - 39
Main Authors Scriven, John, Ehrenberg, Andrew
Format Journal Article
LanguageEnglish
Published London, England Elsevier Ltd 01.09.2004
SAGE Publications
Sage Publications Ltd
Subjects
Brand preferences
Consumer behavior
Consumers
Effects
Elasticity of demand
Experiments
Laboratories
Manycountries
Methods
Price cuts
Price elasticity
Price increases
Pricing experiments
Pricing research
Product choice
Reference prices
Statistical analysis
Studies
Price elasticity
Pricing research
Reference prices
Pricing experiments
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Summary:A variety of exploratory laboratory–style tests compared brand–choices at different controlled prices. This has led to consistent findings across different brands and products (including durables and services) and other conditions. Price elasticity, rather than being a specific characteristic of a brand, varied consistently with the competitive context, such as proximity to competitors’ prices, brand share, how overt the price change was, and consumer characteristics such as being younger, or a light buyer of the brand. Measurement procedures affected the size of the effects, but the relative patterns persisted. Such results can provide a grounded base for developing and testing pricing hypotheses.
ISSN:1441-3582
1839-3349
DOI:10.1016/S1441-3582(04)70104-4