Innovations in Retail Pricing and Promotions

Grewal, Dhruv; Ailawadi, Kusum L.; Gauri, Dinesh K.; Hall, Kevin G; Kopalle, Praveen K.; Robertson, Jane R.

doi:10.1016/j.jretai.2011.04.008

Cited by 232 publications

(172 citation statements)

References 56 publications

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“…With this research, we respond to calls for more empirical generalizations that provide a better understanding of personalization strategies (Grewal et al 2011). …”

Section: Discussionmentioning

confidence: 97%

“…First, using evidence from exploratory field studies on Facebook and secondary data, we corroborate the existence of the personalization paradox and probe the interdependencies among the collection and use of data for personalization and their impact on consumer behavior in social media settings. This effort represents a response to calls for more empirical generalizations related to personalization strategies in retailing (Grewal et al 2011). …”

Section: Introductionmentioning

confidence: 99%

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Unraveling the Personalization Paradox: The Effect of Information Collection and Trust-Building Strategies on Online Advertisement Effectiveness

Aguirre

Mahr

Grewal

et al. 2015

Journal of Retailing

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392

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Wetzels, M. (2015).Unraveling the personalization paradox: The effect of information collection and trustbuilding strategies on online advertisement effectiveness. Journal of Retailing, 91(1), pp. 34-49. doi: 10.1016/j.jretai.2014.09.005 This is the accepted version of the paper.This version of the publication may differ from the final published version. Permanent ABSTRACTRetailers gather data about customers' online behavior to develop personalized service offers. Greater personalization typically increases service relevance and customer adoption, but paradoxically, it also may increase customers' sense of vulnerability and lower adoption rates. To demonstrate this contradiction, an exploratory field study on Facebook and secondary data about a personalized advertising campaign indicate sharp drops in click-through rates when customers realize their personal information has been collected without their consent. To investigate the personalization paradox, this study uses three experiments that confirm a firm's strategy for collecting information from social media websites is a crucial determinant of how customers react to online personalized advertising. When firms engage in overt information collection, participants exhibit greater click-through intentions in response to more personalized advertisements, in contrast with their reactions when firms collect information covertly. This effect reflects the feelings of vulnerability that consumers experience when firms undertake covert information collection strategies. Trust-building marketing strategies that transfer trust from another website or signal trust with informational cues can offset this negative effect. These studies help unravel the personalization paradox by explicating the role of information collection and its impact on vulnerability and click-through rates.2

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“…With this research, we respond to calls for more empirical generalizations that provide a better understanding of personalization strategies (Grewal et al 2011). …”

Section: Discussionmentioning

confidence: 97%

Section: Introductionmentioning

confidence: 99%

Unraveling the Personalization Paradox: The Effect of Information Collection and Trust-Building Strategies on Online Advertisement Effectiveness

Aguirre

Mahr

Grewal

et al. 2015

Journal of Retailing

Self Cite

493

392

View full text Add to dashboard Cite

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“…Eyetracking enables more precise measures of consumer responses (Grewal et al, 2011) and has led to deeper insights into how marketing stimuli are processed and how their effectiveness could be measured (Chandon et al, 2009). Eye tracking also investigates cognitive processes in a more standardized way than memory-based measures and is less influenced by response biases than self-reporting (Krajewski et al, 2011).…”

Section: Methodsmentioning

confidence: 99%

Vision (im)possible? The effects of in-store signage on customers’ visual attention

Otterbring

Wästlund

Gustafsson

et al. 2014

Journal of Retailing and Consumer Services

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We used two eye-tracking field experiments to investigate the extent to which in-store signage is used during navigation and decision making, and how the viewing of signage influences customers' visual attention and choice behavior. One hundred and seventy-five customers at a grocery store were exposed to signage stimuli while carrying out predefined shopping tasks. Experiment 1 shows that attention toward signage is affected by customers' levels of store familiarity and in-store search stage (navigation vs. decision making).Experiment 2 demonstrates that signage has a considerable impact on the direction and magnitude of customers' visual attention during decision making.

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“…Cumulative prices offer more benefits than reframed prices for low-priced products, odd price endings, cumulative prices that refer to longer periods, and customers with brilliant computation affinities. According to Grewal et al (2011), innovations in the retail pricing and promotions increase the sales. Carver and Padgett (2012) state that, when a product is priced above/below a stimulus set, using 99-ending prices for the highest and the lowest prices in the stimulus set lessens target price attractiveness compared to when the highest and lowest prices are 00-ending.…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of psychological pricing strategy on consumers' buying behaviour: a qualitative study

Kumar

Pandey

2017

IJBSR

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Abstract:The recognition of consumers' behaviour is crucial for effective marketing plans. Evidences explain that the psychological pricing communicates meaning to consumers. This study theoretically examines the impact of psychological pricing on consumers' buying behaviour. The study has used secondary data from research papers, monographs, theses, popular articles, and newspapers. Findings show that socio demographic factors like age, income, education, gender, lifestyle, family size, reference groups, social roles and status and the psychological patterns like representativeness, availability of products and the anchoring heuristics are key factors which influence consumers' buying behaviour. Additionally, the consumers, who are more price cognisant are more probable to select nine-ending prices. Indeed, low involved customers, those with a small hedonic and symbolic attachment profile, low educated, low income and younger customers are prone to select the nine-ending priced products and services. The findings can have implications for retailers, pricing managers, researchers, academicians, society and government.

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Innovations in Retail Pricing and Promotions

Cited by 232 publications

References 56 publications

Unraveling the Personalization Paradox: The Effect of Information Collection and Trust-Building Strategies on Online Advertisement Effectiveness

Unraveling the Personalization Paradox: The Effect of Information Collection and Trust-Building Strategies on Online Advertisement Effectiveness

Vision (im)possible? The effects of in-store signage on customers’ visual attention

The impact of psychological pricing strategy on consumers' buying behaviour: a qualitative study

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