Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Consumer price knowledge in the market for apparel

Consumer price knowledge in the market for apparel Purpose – The aim of this study is to analyze consumers' price knowledge in the market for apparels. Design/methodology/approach – After reviewing earlier attempts at assessing the construct, the price estimation error “PEE” was used, a measure based on explicit price knowledge stored in long‐term memory, as a valid indicator of price knowledge. Findings – The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low. Originality/value – Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Retail & Distribution Management Emerald Publishing

Loading next page...
 
/lp/emerald-publishing/consumer-price-knowledge-in-the-market-for-apparel-MUkp0XQsL1
Publisher
Emerald Publishing
Copyright
Copyright © 2007 Emerald Group Publishing Limited. All rights reserved.
ISSN
0959-0552
DOI
10.1108/09590550710728075
Publisher site
See Article on Publisher Site

Abstract

Purpose – The aim of this study is to analyze consumers' price knowledge in the market for apparels. Design/methodology/approach – After reviewing earlier attempts at assessing the construct, the price estimation error “PEE” was used, a measure based on explicit price knowledge stored in long‐term memory, as a valid indicator of price knowledge. Findings – The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low. Originality/value – Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market.

Journal

International Journal of Retail & Distribution ManagementEmerald Publishing

Published: Feb 27, 2007

Keywords: Behaviour; Pricing; Knowledge management; Retail marketing; Clothing

References