The Influence Of Odd-ending Pricing On The Purchase Intention Of Vice Product Vice And Virtue Products

Odd-ending pricing has been widely used in retailer's marketing practice.It is thought-provoking that the prices of products which can bring enjoyable experience in the short term and produce negative consequences in the long term mostly end with"9";While at the same time,the prices of products which cannot bring enjoyable experience in the short term and produce positive consequences in the long term not mostly end with "9".Odd-ending pricing has proved to be a useful method of improving sales.Meanwhile,A few studies has shown odd-ending pricing was not that effective.Then the effect of odd-ending pricing can be changed between vices and virtues?What is the process mechanism?What are the boundary conditions?The results of prior research about factors changing the effect of odd-ending pricing studies are not uniform.In this paper,we explored the influence of odd-ending pricing on the purchase intention of vice product vice and virtue products from the perspective of product type,and proposed that odd-ending(vs.round-ending)prices would increase the purchase intention of vice products but have no impact on the purchase intention of virtue products.What is more,the mediating effect of anticipated pain of payment and the moderating effect of price level and sensitivity of pain of payment were explored.Five studies test four hypotheses.Specifically,study 1 provided preliminary evidence for the influence of odd-ending pricing on the purchase intention of vice product vice and virtue products in a choice context.Study 2 primarily investigated the underlying mechanism for the effectiveness of odd-ending pricing on vice consumption in a single option context,and discovered the mediating effect of anticipated pain of payment.Study 3 and Study 4 respectively explored the moderating effect of price level as well as sensitivity of pain of payment,and found that the lower the price level,the stronger the effect of odd-ending pricing on the purchase intention of vice product,also found that the effect of odd-ending pricing on the purchase intention of vice product will be stronger for consumers who are more sensitive to pain of payment.Study 5 found that the effect of odd-ending pricing on the purchase intention of vice product will be attenuated when consumers are made aware of the trivial difference between odd-and round-ending prices.The paper has some certain theory values.Firstly,this paper puts forward a new view,that is odd-ending(vs.round-ending)prices help to increase the purchase intention of vice products but have no impact on the purchase intention of virtue products.Secondly,the mediating mechanism of anticipated pain of payment will offer alternative explanations for some previous findings.Thirdly,the conclusion of relationship between utility of price difference and price level has been extended to odd-ending pricing.Also,this paper has some practice significances.Firstly,when adopting odd-ending pricing,product type can be taken into consideration.Secondly,when adopting odd-ending pricing,sensitivity of pain of payment of the consumers can be considered,and the effect of odd-ending pricing on the purchase intention of vice product will be stronger for consumers who are more sensitive to pain of payment.Thirdly,our results suggest that making consumers aware of the trivial difference between odd-and round-ending prices may erase its effect.From a public policy perspective,we therefore suggest a potential remedy in the form of consumer awareness campaigns that can counter the influence of odd-ending prices on vice products so as to maintain the well development both in mind and body.