Price and Its Influence Upon Choice

Michael Kamins

Chapter 7 in Marketing Manipulation:A Consumer's Survival Manual, 2018, pp 93-108 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Two University of Chicago researchers, Robert Schindler and Lori Warren (1988), hypothesized that when given a choice between odd ending versus even ending prices for specific items on a menu, consumers would choose the items with the odd ending price much more frequently than when the price was evenly ended. Indeed the difference between the price of the item when it was odd or evenly priced was trivial, often accounting to less than 5 cents on a $20.00 menu item.

Keywords: Marketing; Consumer Behaviour; Pricing; Product; Promotion; Distribution (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2018
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