Discusses a conceptual model of consumers′ product evaluation that should help marketers′ understanding of price setting. Provides a conceptual model that incorporates acceptable value range and that examines the influence of price and store name information on quality, monetary sacrifice, value, and willingness to buy. Argues that unlike brand name image, which takes considerable time, money and managerial talent to develop, price and retail outlet are two distinct marketing tools for making quick position movements in a competitive market. Concludes that understanding the effects of price and store name information should lead to more effective and efficient behaviour in the marketplace by both buyers and sellers.
Dodds, W.B. (1991), "In search of value: how price and store name information influence buyers′ product perceptions", Journal of Consumer Marketing, Vol. 8 No. 2, pp. 15-24. https://doi.org/10.1108/07363769110034974
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