Psychology: Techniques and Application

Psychology: Techniques and Application ›› 2023, Vol. 11 ›› Issue (6): 347-356.

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You Get What You Pay For? The Influence of Subjective Socioeconomic Status and Product Type on Price-quality Effect

  

  • Online:2023-06-01 Published:2023-06-06

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Abstract:

In recent years, more and more studies have explored price-quality effect from different perspectives. In this paper, the influence of subjective socioeconomic status (SSES) on price-quality effect is explored through three studies. Study 1 conducted a questionnaire survey of 299 participants, and found that SSES significantly positively predicted price-quality effect. Study 2 adopted the method of behavioral experiment, and people with high subjective socioeconomic status were found to be more likely to judge the quality of goods by price. Study 3 further adopted the method of behavioral experiment to explore the moderating effect of product type between SSES and price-quality effect, and it was found that the relationship between SSES and price-quality effect is different for different types of products. The research has a theoretical supplement to the previous research on price quality effect, and at the practical level, on the one hand, for merchants, the pricing and marketing strategies of merchants can be improved to make them more targeted; On the other hand, it helps remind consumers to pay attention to other clues, shop around, and make more rational decisions.

Key words: subject socioeconomic status, price-quality effect, product type

CLC Number: 

  • G446
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