Articles

Consumers' Immediate Memory for Prices

M. VANHUELE, G. LAURENT, X. Drèze

Journal of Consumer Research

September 2006, vol. 33, n°2, pp.163-172

Departments: Marketing, GREGHEC (CNRS)

Keywords: Cognitive Processes, Pricing, Language


We examine the cognitive mechanics involved in keeping prices in short-term memory for subsequent recall. Consumers code and store prices verbally, visually, and in terms of their magnitude. The encoding used influences immediate recall performance. The memorability of prices depends on their verbal length, usualness, and overall magnitude. We find that the performance of consumers is affected by their pronunciation speed and price abbreviation habits. Overall, consumers recall prices better that what previous digit span studies with simple numbers have suggested


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