The IUP Journal of Marketing Management
Price Information in Advertisements and Perceived Value of Products
Article Details
| Pub. Date | :Nov, 2019 |
|---|---|
| Product Name | : The IUP Journal of Marketing Management |
| Product Type | : Article |
| Product Code | : IJMM31911 |
| Author Name | : Sonia Arora |
| Availability | : YES |
| Subject/Domain | : Marketing |
| Download Format | : PDF Format |
| No. of Pages | : 17 |
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Abstract
The purpose of this study is to examine the relationship between price information in advertisements and perceived value of products. According to Information theory, knowledge of the information content of an advertisement helps to determine the optimum exposure level for an audience while maximizing promotional influence (Bruner, 1984). There is very little evidence of research on price information in advertisements. A study by Keller (2016) identifies the future research agenda that research should be conducted on understanding pricing power. Descriptive research design was used to know the impact of price information in advertisements. A survey of 50 respondents in Chandigarh by shop intercept method using stratified random sampling was conducted. Data analysis was done using statistical tests—correlation and regression with the help of IBM SPSS Statistics 20. Price information in advertisements is found to be significantly related to purchase intention, brand awareness, perceived value and customer satisfaction, but is found to be not related to perceived quality. The study makes a conceptual contribution to the literature of marketing communication by developing the theoretical linkages with their accompanying rationale. The study also makes an empirical contribution by testing these theoretical linkages which have not been done in the earlier literature. The study makes suggestions to managers on formulating advertisement strategies to persuade consumers. The study could benefit marketers and advertisers in creating advertisements.
Description
Consumers are often poorly informed about the price and attributes of products they buy, and although consumers may be able to obtain information through their own endeavors, this entails some cost (Anderson and Renault, 2006). Now the customers are being empowered by the Internet due to diminishing information asymmetry (Singh, 2015). Xiang et al. (2015) also state that the trend in consumer empowerment is leading to increasing ability of buyers to better understand cost and pricing considerations of the sellers as consumers can go to various online price comparison websites and apps and find out the best deals. However, empirical evidence from various countries suggests that most advertisements contain very less direct information and many advertisements do not mention prices (Anderson and Renault, 2006).
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