Seemingly incidental anchoring: the effect of incidental environmental anchors on consumers' willingness to pay
Döğerlioğlu Demir, Kıvılcım and Koçaş, Cenk (2015) Seemingly incidental anchoring: the effect of incidental environmental anchors on consumers' willingness to pay. Marketing Letters, 26 (4). pp. 607-618. ISSN 0923-0645 (Print) 1573-059X (Online)
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Official URL: http://dx.doi.org/10.1007/s11002-014-9295-0
This article explores the influence of seemingly incidental numbers on willingness to pay as a function of internal reference price strength. Four experiments suggest that anchoring effects occur only when consumers hold weak internal reference prices for the target product. For products with strong internal reference prices, anchoring occurs if the numerical value is part of the product identity and resembles a price.
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