Are Low Price and Price Matching Guarantees Equivalent? The Effects of Different Price Guarantees on Consumers’ Evaluations |
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| Institution: | 1. Department of Marketing, Lawrence Technological University, 21000 West Ten Mile Road, Southfield, MI 48075, USA;2. Department of Marketing, Darla Moore School of Business, University of South Carolina, Columbia, SC 29208, USA;3. Department of Marketing and Supply Chain Management, Wayne State University, 5201 Cass Avenue, Detroit, MI 48202, USA;4. Department of Marketing, Babson College, Babson Park, MA 02457, USA;1. Tilburg University, Tilburg School of Economics and Management, Warandelaan 5, 5037 AB Tilburg, The Netherlands;2. KU Leuven, Belgium;1. Weatherhead School of Management, Case Western Reserve University, Cleveland, OH 44106, United States;2. Spears School of Business, Oklahoma State University, Stillwater, OK 74078, United States;3. College of Business, 307 RBA, Florida State University, Tallahassee, FL 32306, United States;4. Spears School of Business, Oklahoma State University, Stillwater, OK 74078, United States;1. Hainan University, China;2. Tsinghua University, China;3. Menlo College, United States;1. University of Manitoba, I.H. Asper School of Business, 181 Freedman Crescent, Winnipeg, MB R3T 5V4, Canada;2. F.C. Manning School of Business Administration, Acadia University, 24 University Avenue, Wolfville, Nova Scotia B4P 2R6, Canada;3. Sauder School of Business, University of British Columbia, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada |
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| Abstract: | Some retailers offer price match guarantees, whereas others offer guarantees making the same promise but labeling these low-price guarantees. Do consumers respond differently to these different price guarantee labels? To address this research question, this paper leverages insights from pricing, signaling, and regulatory focus theories to demonstrate – across multiple studies – that consumers perceive price match versus low price guarantees differently. In turn, contingent on consumers’ regulatory focus, this difference in perceptions feeds forward and influences consumers’ purchase intentions and post purchase (e.g., repurchase) intentions. This paper contributes to theory, not only by showing differences across price match versus low price guarantees, but also by being the first to jointly examine purchase and post purchase intentions relating to price guarantees. This paper also speaks to practice, noting contingencies that determine whether the price match or the low-price guarantee label should be used. |
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| Keywords: | Price guarantees Price match guarantees Low price guarantees Signaling Regulatory focus |
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