How anchoring and self-confidence level influence perceived saving on tensile price claim framing

Landie Qiu (), David Cranage and Anna S Mattila
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Landie Qiu: The Pennsylvania State University

Journal of Revenue and Pricing Management, 2016, vol. 15, issue 2, No 5, 138-152

Abstract: Abstract Sales promotion is one of the most commonly used sales techniques by marketers, and promotion framing is critical because the presentation of sales information influences consumers’ perceived savings. This article focuses on one specific type of promotion framing – tensile price claim. It compares customers’ perceived savings on two pairs of tensile price claim framings: minimum framing (save 15 per cent or more) versus maximum framing (save up to 35 per cent), and range framing (save 15–35 per cent) versus average framing (save an average of 25 per cent). On the basis of the literature review, researchers propose a conceptual framework and two hypotheses. A pilot study and a main study were conducted to test the hypotheses. The findings suggest that Anchoring and Adjustment Theory may explain the savings perception process and consumer self-confidence levels moderate perceived savings during this process. Authors also discussed both theoretical and managerial implications of this research.

Keywords: promotional pricing; tensile price claim; price framing; anchoring and adjustment theory; perceived saving; self-confidence (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1057/rpm.2015.49

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