Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/147809
Title: PAY-WHAT-YOU-WANT: PREFERENCE FOR, RANGE EFFECTS AND CONSEQUENCES OF PRICE RECOMMENDATIONS
Authors: LEE YAN FANG
Issue Date: 2013
Citation: LEE YAN FANG (2013). PAY-WHAT-YOU-WANT: PREFERENCE FOR, RANGE EFFECTS AND CONSEQUENCES OF PRICE RECOMMENDATIONS. ScholarBank@NUS Repository.
Abstract: Despite the potential of price recommendations to be a powerful price mechanism for PWYW retailers, there remains limited work which examines the preference for and impacts of such recommendations on PWYW consumers’ willingness-to-buy, willingness-to-pay and post-purchase delight/regret. Three experiments were carried out to examine the preference for, range effects and consequences of price recommendations in a PWYW setting. Specifically, results of the studies reflect that preference for price recommendations in a PWYW setting is driven by concerns for price fairness and perceptions of market-price fairness. For range price recommendations, consumers’ willingness-to-buy (WTB) is affected by the lower bound of the range price recommendation whilst willingness-to-pay (WTP) is affected by the upper bound of the range price recommendation. Downstream consequences of price recommendations in a PWYW setting (compared to the traditional, posted price mechanism) include regret in an unsatisfactory experience and delight in a satisfactory experience being attenuated. This study contributes to the relevant but very limited literature on PWYW. The knowledge of this topic would aid marketers in implementing effective price recommendations. Based on the understanding, we explore a number of directions for future research.
URI: http://scholarbank.nus.edu.sg/handle/10635/147809
Appears in Collections:Bachelor's Theses (Restricted)

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