Interdependence of Acquisition and Transaction Value: The Role of Quality

摘要

Value was traditionally conceptualized as a sum of a) the gain (or loss) arising out of acquiring a product (acquisition value) and b) the pleasure (displeasure) attributable to the financial terms of the deal (transaction value) (Thaler,1983). This conceptualization assumed that the two constructs are independent and additive. Grewal et. al (1998) demonstrated that the two constructs were interdependent. They found that for comparative price promotions, consumers perceive a transaction value as reflective of the discount in the promoted offer which, in turn, increased its acquisition value.