Reference price effect of partially similar online products in the consideration stage

Chang-Xiong Qin and Zhao Liu

Journal of Business Research, 2022, vol. 152, issue C, 70-81

Abstract: Reference price is an important basis for online retailers to formulate pricing strategies. Existing studies on the reference price effect primarily use completely similar products for price comparison analysis, while using partially similar products is difficult to study the reference price effect due to weak comparability. Therefore, based on spatial econometrics and text mining, this study designs a research framework to analyze the reference price effect of partially similar online products. We explore three reference price scenarios for partially similar online products in the consideration stage of online shopping, namely: the reference price effects of retail price and unit size price, and the influence of brand on the reference price effect. This study extends the research on the reference price effect under these three scenarios from completely similar online products to partially similar online products, which provides novel insights into the reference price effect of partially similar online products.

Keywords: Reference price effect; Text mining; Spatial econometrics; Online products. (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:152:y:2022:i:c:p:70-81

DOI: 10.1016/j.jbusres.2022.06.043

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