External Reference Price and Participative Pricing: The Role of Product Category

摘要

The purpose of this paper is to examine how external reference price(ERP)interacts with product category(hedonic vs.utilitarian product)in influencing consumers’perceived value and ultimately pay-what-you-want(PWYW)payment amounts. Two experiments were conducted to examine the hypotheses.Study 1 utilized a 2(ERP: presence vs.absence)x 2(product category: hedonic vs.utilitarian)between-subject design with 152 college student subjects.Study 2 also utilized a 2(ERP: presence vs.absence)x 2(product category: hedonic vs.utilitarian)between-subject design with 184 college student subjects.