Search results

The purpose of this paper is to examine the information search behaviors of mature consumers (age 55 and older) for new service purchases across several contexts.

Almost 200 mature consumers in the Midwestern USA were surveyed regarding new home, medical, or financial service purchases made within the past 12 months. Questions regarding information search, importance of different information sources, satisfaction with the service decision, and demographics were collected.

Mature consumers consulted few information sources for service decisions, irrespective of context. Service context did affect the number of service providers considered; significantly fewer providers were considered for medical and financial services than for home services. Information search was negatively related to age, but unrelated to service outcome satisfaction and responsibility for the decision.

No comparison was made between the search behavior of older and younger consumers. Although the breadth of information search was examined, the depth of search within each type of information source was not. As a descriptive study, it was not possible to address why such little external search was conducted. A convenience sample was used.

Mature consumers conducted more external search for less‐involved service contexts (e.g. home services) than for those more‐involved (e.g. medical and financial services). Companies are beginning to realize the value of maintaining relationships with mature consumers; the results may suggest ways to improve those relationships with mature consumers by detailing the service decision process. Additionally, public policy interventions or education programs based on the work might help mature consumers to learn better service decision strategies.

A large range of ages was sampled in the study (respondents ranged from 55 to 93) and multiple responses were obtained from some participants across several service contexts, allowing for a within‐subjects design of the survey. It was then possible to explore the effect of context on the number of service providers considered and the number of external information sources consulted prior to purchase.

The purpose of this paper is to apply Lichtenstein et al.'s price perception model to American, Chinese and Japanese cultures, to test the measurement equivalence across three cultures, and to compare the price perception constructs across three cultures using equivalent instruments.

A questionnaire is used to collect information on more than 500 student respondents from America, China, and Japan.

Utilizing structural equation modeling, a 21‐item version of Lichtenstein et al.'s scale is created that has good fit across the three cultures. In progressively constraining tests, good model fit is found when constraining or partially constraining the factor loadings, error correlations, factor variances, and correlations between factors to be equal across three cultures tested. In addition, after creating price perception subscales, no significant differences emerge between Chinese, Japanese, and US consumers on value consciousness or price/quality schemas. Significant differences emerge on price consciousness, prestige sensitivity, and sales proneness.

The 21‐item scale of Lichtenstein et al.'s price perception model can be generalized to both China and Japan. The primary conclusions (i.e. that Chinese consumers reported significantly higher price and prestige sensitivity, compared to USA and Japanese consumers, while US consumers showed higher levels of sales proneness than Chinese and Japanese consumers) provide a rationale for international retailers to develop different pricing and promotional strategies when expanding their business into these three cultures.

A 21‐item scale to measure five of Lichtenstein et al.'s price perception constructs that has been validated through measurement invariance tests and compared across consumers in China, Japan, and the USA is provided.