Consumers' Immediate Memory for Prices

Marc Vanhuele (), Gilles Laurent () and X. Drèze
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Marc Vanhuele: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique
Gilles Laurent: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique

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Abstract: We examine the cognitive mechanics involved in keeping prices in short-term memory for subsequent recall. Consumers code and store prices verbally, visually, and in terms of their magnitude. The encoding used influences immediate recall performance. The memorability of prices depends on their verbal length, usualness, and overall magnitude. We find that the performance of consumers is affected by their pronunciation speed and price abbreviation habits. Overall, consumers recall prices better that what previous digit span studies with simple numbers have suggested

Keywords: Consumer; Consumers' Memory; Memory for Prices; Prices (search for similar items in EconPapers)
Date: 2006-09
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Citations: View citations in EconPapers (15)

Published in Journal of Consumer Research, 2006, 33 (2), pp.163-172

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00119558

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