The Influences Of Construal Level And Psychological Distance On The Anchoring Effect Of Products’ Value Estimation

Nowadays, lots of competitive enterprises have emerged in the mobile’s fieldslaunching products with high similarity in function, appearance, and even the way ofmarketing. There are big differences of the prices of the same product. To make theirproducts stand out from various products and to make profits, merchants used variousstrategies and advertisement is an important one among them. A good advertisementcan not only attract customers but also show the features of their products to meetcustomers’ needs and to sell the product with a higher price. The current research isgoing to study the anchoring effect of value estimation in consuming behaviorsthrough construal level theory and psychological distance. It adopted a2(psychological distance-long and short) by2(product attribute-entertaining and utility)experiment design and conducted two experiments to investigate the influences ofconstrual level and psychological distance on the anchoring effect.Results showed that:1) For the long time distance group, participants’ valueestimation of the products that emphasized the utility aspect was significantly higherthan those that emphasized the entertainment aspect, and vice versa for the short timedistance group.2)For the long social distance group, participants’ value estimation ofthe products that emphasized the utility aspect was significantly higher than thoseproducts that emphasized the entertainment aspect, and vice versa for the short socialdistance group.3)When psychological distance matched construal level (productattribute), the anchoring effect was bigger than the mismatch condition.