A Note on Some Experimental Findings About the Meanings of Price

Consumer preference for electronic consumer durable goods in India: a conjoint analysis approach

“…Simultaneously, price being a parameter of quality makes people spend rationally (Leavitt, 1954;Rao and Monroe, 1989) and when they fail to understand the product, try to assess on the basis of price criteria (Choi et al, 2010;Iacocca et al, 2015;Monroe, 1971;Stiving, 2000;Zeithaml, 1988). The other probable reason of preferring price towards higher side may be growing income of Indian consumers in comparison to past (Saxena, 2010).…”

“…Richins and Dawson (1992) came to the conclusion that materialistic people are likely to evaluate their own and others' success by the number and quality of goods possessed by them and this view decide their preference for goods. Consumer preference may differ on the basis of several factors i.e., brand, price, advertisement type, celebrity, country of origin (Bilkey and Nes, 1982;Govers and Schoormans, 2005;Howard and Kerin, 2013;Jevons, 2005;Jaffe and Nebenzahl, 2001;Kansal, 2013;Leavitt, 1954;Mullikin, 2003;Rao and Monroe, 1989;Park et al, 1986;Seno and Lukas, 2007;Till and Busler, 2000;Zhu et al, 2003). There are other several reasons why consumer changes their preference, like in turkey it is revealed that the preference of male and female differ significantly while taking buying decision (Atkin et al, 2007;Demirbag et al 2010;Sutherland, 2011).…”

“…'Price act as a indicator of quality' (Leavitt, 1954;Rao and Monroe, 1989) measured with the two items 'high price indicative of good quality' and 'very low price apprehended for quality' and when the purchase is infrequent or buyer fail to understand about product on the basis of physical attributes, evaluate on the basis of price (Choi et al, 2010;Iacocca et al, 2015;Monroe, 1971;Stiving, 2000;Zeithaml, 1988). Even consumers agrees to purchase more if the price of their desired products is reduced substantially (Smith and Sinha, 2000) and willing to survey and search for getting lower price.…”

The effects of brand origin country and made-in country on consumers’ product evaluations and purchase intention

“…He found in his experiment that consumers did not always select the brand with cheaper price. Leavitt (1954) contended that "price itself may have more than one meaning to a consumer (p. 210) (McConnell, 1968)". After Leavitt's (1954) study, McConnell (1968 explored empirically the relationship between price and perceived quality; he found that the price is used as an indicator of product quality.…”

“…Leavitt (1954) contended that "price itself may have more than one meaning to a consumer (p. 210) (McConnell, 1968)". After Leavitt's (1954) study, McConnell (1968 explored empirically the relationship between price and perceived quality; he found that the price is used as an indicator of product quality. In his experiment, although the stimuli-beer was physically identical, respondents perceived the quality significantly different with different prices.…”