Marketing

Pricing is one of the most crucial determinants of sales. Besides the actual price, how the price offering is presented to consumers also affects consumer evaluation of the product offering. Many studies focus on "price framing," i.e., how the offer is communicated to the consumer?is the offered price given along with a reference price, is the reference price plausible, is a price deal communicated in dollar or percentage terms. Other studies focus on "situational effects," e.g., is the evaluation for a national brand or a private brand, is it within a discount store or a specialty store.

The author studies the pricing of information with private value (e.g., management consulting, legal advice, medical diagnosis). Anecdotal evidence shows that in some of these markets, competing information sellers split the business to sell only first or second opinions to their customers. The author explains this pricing practice by showing that second-opinion markets are a result of temporal differentiation.

For the past four decades, dozens of researchers have studied consumer price knowledge, often with disagreements on the extent of consumer' ignorance about prices. While some of these disagreements have been attributed to research design variations among studies, no inquiry has yet been made on the role of the economic environment on consumer price knowledge. Nevertheless, environmental factors such as interest rates, unemployment, and economic growth may significantly influence consumers' knowledge of prices.

Multidisciplinary evidence suggests that people often make evaluative judgments by monitoring their feelings toward the target. This article examines, in the context of moderately complex and consciously accessible stimuli, the judgmental properties of consciously monitored feelings.

Traditionally the management of brands has been entrusted to middle management. However, it is becoming increasingly apparent that brands are of such critical strategic importance, that they are more appropriately placed under the direct responsibility of senior management. Indeed, we believe that senior managers should act as brand custodians. For this new responsibility, senior managers need integrative overviews of brands and their management.

The authors suggest that people strategically manage—specifically, lower—their expectations to increase future satisfaction. Consumers who are more disconfirmation sensitive, that is, those who are more satisfied (dissatisfied) when a product performs better (worse) than expected, are hypothesized to have lower expectations. In contrast, the authors expect that consumers who are perfectionists will have higher expectations than those who are not. Results from a laboratory experiment and a field study are consistent with the hypotheses.

Despite the importance of decisions regarding international brand names, research on brand naming has focused primarily on English name creation. The authors conceptualize the local brand-name creation process in a multilingual international market. The authors present a framework that incorporates (1) a linguistic analysis of three translation methods—phonetic (i.e., by sound), semantic (i.e., by meaning), and phonosemantic (i.e., by sounds plus meaning)—and (2) a cognitive analysis focusing on the impact of primes and expectations on consumer name evaluations.

This paper argues that it is important to include the other party's payoff in a competitor's utility (satisfaction) function. Examples of the impact are provided as well as implications for multi-stage games (competitions). A sample of 200 provides empirical support for the critical role other party results play in satisfaction, in particular the importance of relative payoffs. Several implications emerge, including a parsimonious explanation for the exponential pattern of shares in mature markets.

Previous research suggests that attitudinal resistance to information that challenges a prior evaluation increases with the amount of information underlying the prior evaluation. We revisit this proposition in a context in which a set of important claims about a target brand are presented either alone—a lower amount of "isolated"? information—or along with other favorable, but less important claims— a higher amount of "embedded" information. Results from two experiments show that when the challenge occurs immediately after the initial evaluation, a greater amount of "embedded"?