Consistent Consumer Responses to Price Changes

Abstract

A variety of exploratory laboratory–style tests compared brand–choices at different controlled prices. This has led to consistent findings across different brands and products (including durables and services) and other conditions. Price elasticity, rather than being a specific characteristic of a brand, varied consistently with the competitive context, such as proximity to competitors’ prices, brand share, how overt the price change was, and consumer characteristics such as being younger, or a light buyer of the brand. Measurement procedures affected the size of the effects, but the relative patterns persisted. Such results can provide a grounded base for developing and testing pricing hypotheses.

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