Experiment 1: Reference Pricing a. Place the two products together. Place a sign on one with a low price. Place a sign on the other with a high price (about 50 percent higher will do). Ask your research participants to evaluate the quality of each of the items and to tell which one they would probably purchase. b. Reverse the signs and ask other research participants to evaluate the quality of each of the items and to tell which one they would probably purchase. c. Place the two p<oducts together again. This time place a sign on one with a moderate price. Place a sign on the other with a price that is only a little higher (less than 10 percent higher). Again, ask research participants to evaluate the quality of each of the items and to tell which one they would probably purchase. d. Reverse the signs and ask other research participants to evaluate the quality of each of the items and to tell which one they would probably purchase.
Experiment 1: Reference Pricing
a. Place the two products together. Place a sign on
one with a low price. Place a sign on the other with
a high price (about 50 percent higher will do). Ask your research participants to evaluate the quality of
each of the items and to tell which one they would
probably purchase.
b. Reverse the signs and ask other research participants
to evaluate the quality of each of the items and to
tell which one they would probably purchase.
c. Place the two p<oducts together again. This time place
a sign on one with a moderate price. Place a sign on
the other with a price that is only a little higher (less
than 10 percent higher). Again, ask research participants to evaluate the quality of each of the items and
to tell which one they would probably purchase.
d. Reverse the signs and ask other research participants
to evaluate the quality of each of the items and to
tell which one they would probably purchase.
Step by step
Solved in 2 steps
