Formation Of Perceived Value And Reference Price: Perceived Price-Quality Related Moderating Effect

This study combines perceived value theory with reference price theory to explore the impact of price information on perceived value and reference price in the context of information asymmetry.And trying to establish a unified model to increase the understanding of the relationship between price information,perceived value and reference price.This study also put the price information,perceived value and reference price into the view of symbol value,and explores the influence of price information on the perceived value and reference price of the same external cues or the goods with the same searchable internal cues.In order to explore the relationship between the three variables,a total of two studies were conducted.In the study 1,434 people were sampled nationwide to complete a questionnaire research.Study 1 used the between-subjects design to manipulate price information,and explored the impact of price on the perceived value and reference price of the commodity itself.The results of study 1 show that price information can significantly positively affect the perceived value and reference price of the commodity itself,and price information can influence the reference price through the mediation of perceived value.Perceived price-quality correlation significantly moderates the effect of price information on perceived value.Only when the perceived price-quality correlation is high,price information can significantly positively affect perceived value.Study 2 focuses on the impact of price information on the perceived value and reference price of goods with the same cues.Study 2 contains two experiments,experiment 1 used the within-subjects design,and 115 participants participated in the experiment through the computer.The experiment manipulated the price information of the commodity to explore the influence of price information on the perceived value and reference price of goods of the same brand.The results of experiments 1 show that price information can positively affect the perceived value and reference price of goods of the same brand,and can influence the reference price through the mediation of perceived value.Experiment 2 used a mixed experiment design,and 70 participants participated in the experiment through a computer.The experiment manipulated the price information of the product to explore the influence of price information on perceived value and reference price of goods with the same searchable internal attributes.The results of experiments 2 show that Price information can positively influence the perceived value and reference price of goods with the same searchable internal cues,and can influence the reference price through the mediation of perceived value.In summary,recent research shows that price information positively affects the perceived value and reference price,and can affect the reference price by affecting the perceived value.And this conclusion is still applicable to commodities with the same cues.