Price placebo effect in hedonic consumption |
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| Affiliation: | 1. School of Hospitality and Tourism Management, Purdue University, Marriott Hall, 900 West State Street, West Lafayette, IN 47907, USA;2. School of Hospitality and Tourism Management, Purdue University, Marriott Hall, Room 245, 900 West State Street, West Lafayette, IN 47907, USA;1. Chair of Marketing, Department of Management, University of Fribourg, Boulevard de Pérolles 90, 1700 Fribourg, Switzerland;2. Doctoral Student in Marketing, Department of Management, University of Fribourg, Boulevard de Pérolles 90, 1700 Fribourg, Switzerland;1. Sheffield Hallam University, United Kingdom;2. University of Salford, United Kingdom;3. Ming Chuan University, Taiwan;1. Cardiff Business School, College of Arts, Humanities & Social Sciences, Cardiff University, Aberconway Building, Colum Drive, Cardiff, CF10 3EU, UK;2. Suffolk Business School, Faculty of Arts, Business and Applied Social Science, University of Suffolk, Waterfront Building, 19 Neptune Quay, Ipswich, IP4 1QJ, UK;1. School of Hospitality Management, The Pennsylvania State University, 201 Mateer Building, University Park, PA 16802, United States;2. School of Hospitality Management, The Pennsylvania State University, 224 Mateer Building, University Park, PA 16802, United States;1. Kellogg School of Management, Northwestern University, 2211 Campus Dr., Evanston, IL 60208-2001, USA;2. Faculty of Economics and Business, University of Neuchâtel, A.-L. Breguet 2, 2000 Neuchâtel, Switzerland |
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| Abstract: | Given the widespread use of premium pricing strategies as a marketing practice, how consumers evaluate premium pricing actions is an interesting issue for both marketing researchers and practitioners. Thus, the objective of this study was to examine perceptions of premium prices and the role of prices, which act as a cue that improves consumers’ experiences in an upscale café setting. Indeed, the results indicated that both price–quality schema and prestige sensitivity were significant factors that induce a positive overall perception of quality at luxury cafés, including coffee, service, and atmosphere. Thus, this study evidences that a price placebo effect exists in hedonic consumption settings. To better understand consumers’ mental accounting based on their income source, the study examined the moderating effect of the origin of the respondents’ income as well. The results revealed that the price tag generates positive consumer responses to café quality. |
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| Keywords: | Price placebo effect Price–quality schema Prestige sensitivity Luxury café Consumer perceived quality Income source |
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