When objective price information is not available: Impact of unpublished or missing prices on the purchase journey for high costs, high involvement products
Year: 2019
Type: article
Study design: Clinical Trial
Abstract: Every model of the consumer purchase journey includes an evaluation phase, during which consumers search for product attributes including price. While much has been written about search, knowledge uncertainty, and the role of price in continued search and purchase intent, very little, if any, empirical work has been done to understand the impact on the path to purchase when objective price is not available. This study undertakes a field experiment with random assignment in a natural setting to examine the impacts on consumer behavior related to continued search, lead generation and purchase intent when objective price is not available. The results provide evidence that the absence of objective price information during the evaluation stage of the purchase journey reduces search, lead generation and purchase intent. While this experiment was conducted in the context of a high cost, high involvement consumer product, many executives in B2B marketplaces would benefit from evidence of the impact of hiding price from B2B customers, providing a fertile area for future research.
Author: Thomas J. Dammrich
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2996250503