Dimensions of price salience: A conceptual framework for perceptions of multi-dimensional prices

Hyeong Min Min, Luke Kachersky

Research output: Contribution to journalArticlepeer-review

30 Scopus citations

Abstract

Purpose - The purpose of this article is to conceptualize dimensions of price salience. Price salience influences price perceptions and deal evaluations. This is especially true when a price consists of more than a single number (multi-dimensional prices). Yet, the very notion of what makes a price salient remains unanswered. By providing a clear conceptualization of different dimensions of price salience and their influence on price perception, we integrate and extend extant research findings. Design/methodology/approach - By drawing on extant research on price salience and salience in general, the paper develops a framework of how different dimensions of price salience are defined and influence price perception. Findings - The paper identifies the four basic dimensions of price salience: visual, semantic, computational, and magnitude salience. It is argued that each dimension has a unique influence on price perceptions. Research limiations/implications - Although widely employed as a key variable in pricing research, price salience has not been clearly defined and issues related to price salience are scattered in the literature. By integrating those issues under a single rubric, the paper enable's pricing researchers to tackle issues related to price salience in a systematic way. Further, it offers several propositions regarding price salience that future research could examine. Originality/value - This a rticle helps practitioners by providing a clear understanding of how each dimension of price salience influence price perceptions. By digesting this article, practitioners can better understand how their price presentations work and better formulate their pricing strategies.

Original languageEnglish (US)
Pages (from-to)139-147
Number of pages9
JournalJournal of Product and Brand Management
Volume15
Issue number2
DOIs
StatePublished - 2006
Externally publishedYes

Keywords

  • Perception
  • Prices
  • Pricing policy

ASJC Scopus subject areas

  • Marketing
  • Management of Technology and Innovation

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