Baumgartner, Bernhard and Steiner, Winfried (2007) Are Consumers Heterogeneous in their Preferences for Odd and Even Prices? New Empirical Findings from a Conjoint Study. International Journal of Research in Marketing 24 (4), pp. 312-323.
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While marketing theories provide some justification for the common practice of setting 9-ending prices, the results of empirical studies are not conclusive on the effects of odd pricing. Nearly all empirical studies have been conducted at the aggregate consumer level, thereby implicitly assuming that consumers respond to odd prices homogeneously. In this research, we analyze consumers' preferences for 9-ending versus 0-ending prices at the individual level. Our findings suggest that some consumers strongly prefer 9-ending prices, whereas other consumers favor 0-ending prices. We further address the existence of level effects and investigate the influence of consumer characteristics on preferences for odd prices.
|Institutions:||Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Marketing (Prof. Dr. Harald Hruschka)|
|Keywords:||Odd price; Even price; Heterogeneity; Hierarchical Bayes|
|Subjects:||300 Social sciences > 330 Economics|
|Refereed:||Yes, this version has been refereed|
|Created at the University of Regensburg:||Unknown|
|Deposited On:||25 Jun 2007|
|Last Modified:||05 Aug 2009 13:36|