-- Robert Preidt
SUNDAY, Sept. 15 (HealthDay News) -- How powerful you feel may
influence how you compare the price of wines or other products,
according to a new study.
The researchers explained that people use two main ways to
evaluate if the price of a product is fair. They compare the
current price with the price they've paid for the same item in the
past (self-comparison) or see how the price compares with what
other people are paying (other-comparison).
"The degree to which one feels powerful influences which type of price comparison threatens their sense of self-importance and, in turn, affects the perception of price unfairness," the study authors wrote.
The study found that people who felt more powerful were more
likely to feel a price was unfair when it appeared that they were
paying more than others, while people who did not feel powerful
were more likely to feel a price was unfair when they used
The researchers also found that people who felt powerful were
more likely to get angry about perceived price unfairness and were
more likely to complain about it, according to the study published
online recently in the
Journal of Consumer Research.
On the other hand, people who did not feel powerful were more
likely to feel sad about perceived price unfairness and to use
tactics to avoid thinking about the issue, the authors pointed out
in a journal news release.
"Our findings suggest important ways that marketing professionals can engage customers of different power statuses," wrote Liyin Jin and Yanqun He of Fudan University in China, and Ying Zhang of the University of Texas, Austin.
"For example, when marketing to high-power customers, one can better elicit preference by highlighting the special treatment that they are receiving in relation to other customers. Conversely, when the target customers are relatively low in power, loyalty may be better cultivated by highlighting the consistency in service or the level of commitment to these customers," the authors concluded.
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