The influence of external reference price strategies in a nonprofit arts organization's “pay‐what‐you‐want” setting

Gross, Hellen P.; Rottler, Maren; Wallmeier, Franziska

doi:10.1002/nvsm.1681

Cited by 11 publications

(22 citation statements)

References 42 publications

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“…In future, scholars should inspect other factors that could influence ERP at the seller and store level, like satisfaction, price consciousness and product involvement (Gerpott, 2017; Weisstein et al. , 2019; Gross et al , 2020).…”

Section: Discussionmentioning

confidence: 99%

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Examining the impact of external reference prices on seller price image dimensions and purchase intentions in pay what you want (PWYW)

Rai

Narwal

2021

APJML

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PurposePay what you want (PWYW) is a participative pricing mechanism that permits customers complete freedom to choose prices. PWYW literature reports the influence of external reference price (ERP) on customers' price decisions and payments. The current research examines the influence of ERP presence, salience and understanding at the seller level by analysing customers' perceptions of seller price image dimensions and purchase intentions.Design/methodology/approachStudy 1 tests the impact of ERP presence and salience in controlled lab settings while Study 2 takes this investigation further by including the moderating effect of ERP understanding on seller price image dimensions and purchase intentions in online settings.FindingsResults illustrate the positive impact of ERP presence on all seller price image dimensions excluding the perceived price level. Perceived price fairness mediates the impact of ERP presence on perceived value. ERP salience positively impacts price processability. ERP presence and salience attached to it positively impact customers' purchase intentions through seller price image dimensions.Originality/valueThis is possibly the first paper to investigate the ERP effect on seller price image dimensions in a PWYW context that lacks fixed posted prices.

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Section: Discussionmentioning

confidence: 99%

“…, 2009; Soule and Madrigal, 2015; Viglia et al. , 2019; Gross et al , 2020; Borg et al. , 2020; Lee et al , 2021).…”

Section: Introductionmentioning

confidence: 99%

Examining the impact of external reference prices on seller price image dimensions and purchase intentions in pay what you want (PWYW)

Rai

Narwal

2021

APJML

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“…Our studies showed that ERPs increase the amount consumers intend to pay, but they still offer considerably less than the ERP amount (NYOP = US$83.44, PWYW = US$55.40, ERP = US$116.00). Consumer behavior depends on other factors such as type of business or product and ERP presentation type (Gross et al, 2021), which may explain inconsistent results found for ERP on previous studies (e.g., Roy et al, 2021; Weisstein et al, 2016). Thus, our results should be carefully interpreted.…”

Section: General Discussion and Conclusionmentioning

confidence: 98%

“…Researchers often examine separate outcomes for NYOP and PWYW participative pricing mechanisms (e.g., Fay & Zeithammer, 2017; Gross et al, 2021; Narwal & Nayak, 2019; Roy et al, 2021), rather than comparing outcomes such as pricing satisfaction, pain of payment, and amount consumers intend to pay (Wagner & Pacheco, 2020). To address the gap, our main objective is to investigate the effects of both PWYW and NYOP on pricing satisfaction, pain of payment, and amount consumers intend to pay.…”

Section: Introductionmentioning

confidence: 99%

Consumer reactions to pay‐what‐you‐want and name‐your‐own‐price mechanisms

Wagner

Pacheco

Basso

et al. 2022

J of Consumer Behaviour

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Pay-what-you-want (PWYW) and name-your-own-price (NYOP) participative pricing mechanisms are becoming more popular among firms. In response, researchers have examined separate outcomes for each mechanism. However, questions remain, especially regarding which mechanism is most beneficial for consumers and companies. Therefore, our main objective is to investigate the role of these participative pricing mechanisms on consumers' pricing satisfaction, pain of payment, and amount of money they intend to pay. We also explore perceived control as mediating the effect of pricing mechanism on pricing satisfaction and pain of payment. Results from two experimental studies indicate that consumers are more satisfied with the pricing mechanism and feel less pain of payment under PWYW offers rather than under NYOP offers, but they intend to pay less than they would have paid for NYOP. External reference prices (ERPs) act as a boundary condition. That is, in both PWYW and NYOP pricing conditions, when retailers use ERPs, consumers intend to pay more but they are less satisfied with pricing and feel more pain of payment. The article concludes with implications for retailers using participative pricing. | INTRODUCTIONRetailers know that when consumers perceive that prices are reasonable, they are more satisfied with their purchases and form increased

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“…Which pricing strategies appeal most to consumers? For instance, experiments can be conducted to discover the effects of a novel pricing mechanism, Pay-what-you-want (i.e., a participative pricing mechanism where customers actively decide what to pay) (Gross et al, 2021) on purchases of Slow Food products.…”

Section: Final Considerationsmentioning

confidence: 99%

Slow Food as an Alternative Food Consumption: approaches, principles and product attributes

Sobreira

Mantovani

Leocádio

2022

RSD

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O objetivo deste ensaio conceitual é discutir o Slow Food como um consumo alimentar alternativo. O Slow Food foi apresentado ao longo dos anos sob diferentes abordagens e conotações. Consideramos que as dificuldades de interpretação do Slow Food como objeto de pesquisa no campo do consumo podem ser superadas por meio deste ensaio. Propomos que o Slow Food é um fenômeno de múltiplas abordagens e um consumo alimentar alternativo que também se relaciona com aspectos relacionais, sensoriais, temporais, sustentáveis, culturais e políticos. Além disso, são ampliadas as definições dos princípios do Slow Food e mapeados os atributos de seus produtos como consumo alimentar. Dentro dessa proposta, o Slow Food envolve preocupações com a aquisição, preparo e consumo de alimentos, com o meio ambiente e os diversos atores envolvidos na busca de uma alimentação boa, limpa e justa, ou seja, princípios oficiais do movimento. Os atributos dos produtos do Slow Food podem ser resumidos em alimentos saudáveis, nutritivos, naturais, frescos, sazonais, regionais, ecologicamente corretos e socialmente justos, produzidos por pequenos produtores locais, para os quais é importante reduzir os danos ao meio ambiente, evitando e condenando o uso de métodos de produção que empobrecem ou poluem a terra e os recursos hídricos. Esses produtores, por sua vez, são valorizados e remunerados de forma justa.

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The influence of external reference price strategies in a nonprofit arts organization's “pay‐what‐you‐want” setting

Cited by 11 publications

References 42 publications

Examining the impact of external reference prices on seller price image dimensions and purchase intentions in pay what you want (PWYW)

Examining the impact of external reference prices on seller price image dimensions and purchase intentions in pay what you want (PWYW)

Consumer reactions to pay‐what‐you‐want and name‐your‐own‐price mechanisms

Slow Food as an Alternative Food Consumption: approaches, principles and product attributes

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