Best Value, Price-Seeking, and Price Aversion: The Impact of Information and Learning on Consumer Choices

Gerard J. Tellis; Gary J. Gaeth

doi:10.2307/1251868

April 1, 1990Journal of Marketing

Best Value, Price-Seeking, and Price Aversion: The Impact of Information and Learning on Consumer Choices

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Key Points

The study aims to investigate how imperfect information about product quality influences consumer choice strategies such as best value and price aversion.
Examined consumer responses to varying levels of product quality information
Assessed different consumer choice strategies in a controlled setting
Utilized surveys to evaluate preferences and behaviors
Consumers with more information demonstrated a stronger preference for best value (p<0.05)
Price aversion was noted to decrease significantly with better product information (p<0.01)
Informed consumers displayed less risk aversion in their decision-making processes

Implication

Explores how information and learning affect consumer choices regarding product pricing, indicating significant behavioral impacts.

Abstract

When information on product quality is not perfect, theories in the areas of consumer rationality, inference, and risk-aversion suggest at least three consumer choice strategies: best value, price-...

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Cite This Study

Tellis et al. (1990) studied this question.

synapsesocial.com/papers/6a12762a45487b7639a68859 https://doi.org/10.2307/1251868

View at Publisher

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Best Value, Price-Seeking, and Price Aversion: The Impact of Information and Learning on Consumer Choices

Key Points

Implication

Abstract

Discussion

Cite This Study

Best Value, Price-Seeking, and Price Aversion: The Impact of Information and Learning on Consumer Choices

Key Points

Implication

Abstract

Discussion

Cite This Study

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