Distinguishing Coupon Proneness from Value Consciousness: An Acquisition-Transaction Utility Theory Perspective

Previous research on coupon proneness has measured the construct only in behavioral terms (i.e., consumers who are more responsive to coupon promotions are coupon prone). On the basis of the study premise that at least one other psychological construct, value consciousness, underlies the behavior of redeeming coupons, the authors argue that coupon proneness should be conceptualized and measured at a psychological level and treated as one construct that affects coupon-responsive behavior rather than as isomorphic with the behavior. They offer conceptual definitions of both coupon proneness and value consciousness and make a theoretical distinction based on acquisition-transaction utility theory. Eight hypotheses that reflect theoretical differences between the two constructs are proposed and tested. Results support the study premise that coupon-responsive behavior is a manifestation of both value consciousness and coupon proneness.