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Title:
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THE IMPACTS OF CONTEXTUAL REFERENCE PRICES ON CONSUMERS' ATTENTION AND PRICE JUDGMENTS |
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Author(s):
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Mei-Chun Wu, Feng-Yang Kuo |
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ISBN:
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978-972-8939-24-3 |
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Editors:
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Sandeep Krishnamurthy, Gurmit Singh and Maggie McPherson |
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Year:
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2010 |
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Edition:
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Single |
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Keywords:
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Contextual reference prices, attention, price judgment, advertisement position, advertisement relevance |
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Type:
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Full Paper |
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First Page:
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19 |
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Last Page:
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27 |
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Language:
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English |
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Cover:
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Full Contents:
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click to dowload 
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Paper Abstract:
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In this paper, we report the results of a study that examines the influence of contextual reference prices (CRPs) and their relevance on consumersÂ’ price judgments. Ten undergraduate students participated in this study, and their eye movements were recorded during the experimental session. The CRPs were arranged at different positions within a Web page. The results showed that participants used relevant CRPs to estimate the prices of target brands. This was evident by the allocation of higher attentional resources to relevant versus irrelevant advertised prices, regardless of their positions within a Web page. Further analyses indicated that participants adjusted their search strategy toward relevant advertisements efficiently, especially when relevant advertisements were placed at less favorable positions. |
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