Evaluating multidimensional prices

Andreas Herrmann (Professor of Marketing at the University of Mainz, School of Business Administration, Mainz, Germany)
Martin Wricke (Doctoral Student at the University of Mainz, School of Business Administration, Mainz, Germany)

Journal of Product & Brand Management

ISSN: 1061-0421

Publication date: 1 April 1998

Abstract

The price at which a product is offered often does not consist of a single item of information, for example VW Golf, price; DM25,476. Instead, a multidimensional pricing system is used, e.g. the price comprises a down payment, monthly installments and a repayment period in months. Despite the considerable significance of offers of this type for marketing policy, no information is presently available to describe how a consumer integrates the individual price dimensions (e.g. down payment, monthly installments and number of repayment periods) to form a global judgment. This article derives hypotheses to explain the formation of a price judgment about multidimensional prices. Then, an empirical study designed to verify the formulated hypotheses is described. Finally, this article discusses the implications of the results of the study.

Keywords

Citation

Herrmann, A. and Wricke, M. (1998), "Evaluating multidimensional prices", Journal of Product & Brand Management, Vol. 7 No. 2, pp. 161-169. https://doi.org/10.1108/10610429810216973

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Publisher

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MCB UP Ltd

Copyright © 1998, MCB UP Limited

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