Frames of reference and buyers' perception of price and value

Article Abstract:

How buyers' perceptions of value are influenced by the purchase environment has become an increasingly important question for business researchers and practitioners. "Framing" - the use of frames of reference within the purchase environment to influence buyers' perceptions of price and value - has been examined extensively by researchers over the past 15 years. There is a need to integrate these research advances into managerial literature, though, and practice. This article provides managers with review of those research findings and some recommendations relating to management practice. (Reprinted by permission of the publisher.)

Beliefs, opinions and attitudes, Consumer behavior, Consumers, Attitudes, Value (Economics)

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A question of value

Article Abstract:

The two pricing models, customer value mapping (CVM) and economic value modeling (EVM) are compared and analyzed. It is concluded that EVM is superior to CVM for setting price.

United States, Pricing Policy, Methods, Marketing, Marketing models, Product price

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