Consumer price knowledge in the German retail market

Evanschitzky, Heiner; Kenning, Peter and Vogel, Verena (2004). Consumer price knowledge in the German retail market. Journal of Product and Brand Management, 13 (6), pp. 390-405.

Abstract

Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo-American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long-term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.

Publication DOI: https://doi.org/10.1108/10610420410560299
Divisions: Aston Business School > Marketing & strategy
Aston Business School > Marketing & strategy research group
Uncontrolled Keywords: consumer behaviour,retailing,prices,marketing
Published Date: 2004

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