Such unilateral promotions prominently display the benefits to the consumer (e.g., reduced price, additional merchandise at no extra cost).
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Retailers use a wide variety of promotional offers to attract store traffic, ranging from in-store coupons and bonus buys (Dhar and Hoch, 1996) product displays, feature advertisements, and price discounts (Green, 1995) and free extra products (Diamond, 1992). Implications for retail strategy and consumer decision-making are discussed. High n Cog subjects, on the other hand, are indifferent between the two types of promotion. When competing stores announce unilateral discounts (e.g., 33% off), low n Cog subjects prefer direct discounts to price-matching offers. Low n Cog subjects prefer price-matching offers and associate such signals with low market prices as long as competing stores do not run any promotions. The results suggest that the attractiveness of price-matching offers is moderated by the amount of thought subjects bring to the decision (need for cognition n Cog). We report an experiment that compares subjects preferences for the two types of promotion in the context of a camera-purchase and car-repair decision. Retailers use unilateral promotions (e.g., x% off or $x off) as well as competitive promotions (price-matching offers, e.g., bring a lower advertised price and we will refund the difference) to attract shoppers. Subimal Chatterjee, Binghamton University INTERPRETING UNILATERAL AND COMPETITIVE PRICE SIGNALS: THE MODERATING ROLE OF NEED FOR COGNITION Wesley Hutchinson, Provo, UT : Association for Consumer Research, Pages: 151-155.Īdvances in Consumer Research VolPages 151-155 Subimal Chatterjee and Suman Basuroy (1998) ,"Interpreting Unilateral and Competitive Price Signals: the Moderating Role of Need For Cognition", in NA - Advances in Consumer Research Volume 25, eds. High nCog subjects, on the other hand, are indifferent between the two types of promotion.
When competing stores announce unilateral discounts (e.g., 33% off), low nCog subjects prefer direct discounts to price-matching offers. Low nCog subjects prefer price-matching offers and associate such signals with low market prices as long as competing stores do not run any promotions. The results suggest that the attractiveness of price-matching offers is moderated by the amount of thought subjects bring to the decision (need for cognition nCog). ABSTRACT - Retailers use unilateral promotions (e.g., x% off or $x off) as well as competitive promotions (price-matching offers, e.g., bring a lower advertised price and we will refund the difference) to attract shoppers.
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