• Journal of the Korean Society of Clothing and Textiles
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• v.22 no.8
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• pp.1099-1110
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• 1998

The perceived quality is a concept considered from the consumer's perspective. So it is differ from the objective determination of product quality. Thus the consumer perception of quality is a subjective judgement of an individual and an overall feeling on the characteristics which includes the product's reliability, performance and so on. In terms of product perception, consumers utilize the product cues in evaluating the product's quality before the purchase and the cues reflecting the quality can be classifisied into intrinsic and extrinsic ones. When the quality perception is limited to the purchase situation, purchase decision dependent on surrogate indicators such as price, are inclined to increase due to the lack of information. Therefore in this study the perceived quality of apparel is controled to the purchase situation in order to examine the consumer's reaction to the price cues and for the convenience of the exploratory investigation. As a result of the empirical study, consumers show differences in quality and value perceptions to the product with the same price depending on the perception whether the price is high or low. The apparel quality evaluation process goes through the steps of "product attributes - perceived quality - perceived value - purchase intention".

• Asia Marketing Journal
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• v.14 no.1
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• pp.53-81
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• 2012

Constructing attractive bundle offers depends on more than an understanding of the distribution of consumer preferences. Consumers are also sensitive to the framing of price information in a bundle offer. In classical economic theory, consumers' utility should not change as long as the total price paid stays same. However, even when total prices are identical, consumers' preferences toward a bundle product could be different depending on the format of price presentation and the locus of price discount. A weighted additive model predicts that the impact of a price discount on the overall evaluation of the bundle will be greater when the discount is assigned to the more important product in the bundle(Yadav 1995). Meanwhile, a reference dependent model asserts that it is better to assign a price discount to a tie-in component that has a negative valuation at its current offer price than to a focal product that has a positive valuation at its current offer price(Janiszewski and Cunha 2004). This paper has expanded previous research regarding price discount presentation format, investigating the reasons for mixed results of prior research and presenting new mechanisms for price discount framing effect. Prior research has hypothesized that bundling is used to sell a tie-in component with an offer price above the consumer's reference price plus a focal product of the same offer price with reference price(e.g., Janiszewski and Cunha 2004). However, this study suggests that bundling strategy can be used for increasing product's attractiveness through the synergy between components even when offer prices of bundle components are the same with reference prices. In this context, this study employed various realistic bundle sets with same price between offer price and reference price in the experiment. Hamilton and Srivastava(2008) demonstrated that when evaluating different partitions of the same total price, consumers prefer partitions in which the price of the high-benefit component is higher. This study determined that their mechanism can be applied to price discount presentation formats. This study hypothesized that price discount framing effect depends not on the negative perception of tie-in component with offer price above reference price but rather on the consumers' perceived consumption benefit in bundle product. This research also hypothesized that preference for low-benefit discount mechanism is that perceived consumption benefit reduces price sensitivity. Furthermore, this study investigated how consumers' concern for quality in a price discount--a factor not considered in previous research--influences price discount framing. Yadav(1995)'s experiment used only one magazine bundle of relatively low quality uncertainty and could not show the influence of perceived uncertainty of quality. This study assumed that as perceived uncertainty of quality increases, the price sensitivity mechanism for assigning the discount to low-benefit will increase. Further, this research investigated the moderating effect of uncertainty of quality in price discount framing. The results of the experiment showed that when evaluating different partitions of the same total price and the same amount of discounts, the partition that discounts in the price of low benefit component is preferred to the partition that decreases the price of high benefit component. This implies that price discount framing effect depends on the perceived consumption benefit. The results also demonstrated that consumers are more price sensitive to low benefit component and less price sensitive to high benefit component. Furthermore, the results showed that the influence of price discount presentation format on the evaluation of bundle product varies with the perceived uncertainty of quality in high consumption benefit. As perceived uncertainty of quality gradually increases, the preference for discounts in the price of low consumption benefit decreases. Besides, the results demonstrate that as perceived uncertainty of quality gradually increases, the effect of price sensitivity in consumption benefit also increases. This paper integrated prior research by using a new mechanism of perceived consumption benefit and moderating effect of perceived quality uncertainty, thus providing a clearer explanation for price discount framing effect.

• Journal of the Korean Home Economics Association
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• v.40 no.9
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• pp.1-15
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• 2002

The multi-faceted influence of price on consumers' purchasing process of apparel products: Relationships with attitudinal and behavioral variables Price has a significant relationship to clothing products not only because of its practical, emotional and symbolic attributes but also because of its wide range and frequent changes. The purpose of this study was to identify the multi-faceted influence of price on consumers' purchasing process of clothing products. Six types of price-perceptions were related to various attitudinal and behavioral variables in a clothing purchase. A questionnaire was developed and data were collected from 720 adult women living in Seoul. Factor analysis, multiple regression, t-test and canconical correlation were employed to analyze the data. Low price consciousness was negatively related to product-oriented aspects of clothing and effected the one-price sale, visiting public markets and using interpersonal sources of price information. Value for money consciousness was positively related to product-oriented aspects of clothing and consumers' age or marriage and effected price considerations at the on-purchase and post-purchase stage. Price-quality inference was related to product-oriented and market-oriented aspects of clothing while price-prestige inference was related to visual and symbolic aspects of clothing and effected normal-price purchasing. Sale proneness was related to market-oriented aspects of clothing and effected seasonal sale price purchasing and price mavenism was related to market-oriented and visual aspects of clothing and effected price considerations at the pre-purchase stage.

• The Journal of the Korea Contents Association
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• v.12 no.12
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• pp.733-741
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• 2012

In recent, many consumers visit the online shopping malls or price comparison sites to collect the information on the product category that they are interested in. However, the volumes of the data provided by such web sites are often too enormous, and significant number of consumers have trouble in making purchase decision based on the plethora of products and sellers. In this context, modern online shopping agents need to process the retrieved information in more intelligent way before providing them to the users. This paper proposes a novel approach for identifying the main price ranges hidden in a single product category. To this end, the price of an item in the category is represented as a row vector and k-means clustering analysis is applied to the price vectors to produce the clusters that consists of the product items with similar price vectors. Then, the main price ranges of the product category can be identified from the result of clustering analysis. In general, the price is one of the most important factors in the consumers' purchase decision, and the identified main price ranges will be helpful for the online shoppers to find appropriate items effectively.

• Journal of Global Scholars of Marketing Science
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• v.15 no.1
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• pp.81-103
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• 2005

This study intends to examine whether consumers, especially buying apparel product postpone purchase in the beliefs of price break in the near future. For this research objectives, the dynamic price expectation effect model for apparel product is proposed and is applied to weekly sales data and price information of 43 women's apparel brands from a department store over the spring season. The main results are summarized as follows. 1. Dynamic price expectation effect model is developed and the model is more robust to apparel product than Gutenberg model, which is not considered these conditions. 2. By applying the model to empirical data, we find out the price expectation effect in the apparel product; concretely there are 23 brands out of 43 brands. This study confirms the price expectation effects in the apparel product theoretically and extends the research boundary of price expectation effects.

• Korean Journal of Human Ecology
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• v.17 no.5
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• pp.1015-1026
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• 2008

This study explores the attributes of the color cosmetic products and prices, and their effects on the brand trust. In doing so, our sample population has been segmented according to their lifestyle on color cosmetic to understand the group differences. Based on the previous researches, we have chosen four important characteristics of the customer's lifestyle. The number of iteration on factor analysis revealed that our sample population can be formed into three different groups. The significant group differences resulted on the following study variables; the product functionality, the product fragrance/color, the product vessel design, the price value, the price information, the price rationality. Also, from the product aspect, the product functionality, the product fragrance/color, the product vessel design, explained the significant portion of the Y variance. While, on the aspect of price, the value, the rationality, and information in order, significantly contributed on the brand trust.

• The Journal of Industrial Distribution & Business
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• v.7 no.2
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• pp.25-32
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• 2016

Purpose - The objective of this study is to investigate the differences and interaction effects on the perceived financial risk between Korean and Thai consumers according to the types of product(utilitarian and hedonic) and price discount (bundle and 50%off). Research design, Data and Methodology - This paper sets up 6 research subjects. Data collection was carried out in Korea and Thailand. Data was made of 154 Korean and 147 Thai consumers. As for the independent variables for this study, consumer types are composed of Korean and Thai consumers, price discount types were bundle(1+1) and 50% off price, and product types consist of utilitarian and hedonic product. The dependent variable is perceived as a financial risk. Each question is measured as a Likert-type five-point scale. Results - According to the price discount and product type, perceived financial risk of Thai consumers is confirmed to be a larger one than that of Korean consumers. Also, there are interaction effects in the perceived financial risk. Conclusion - Our findings can be used as useful information for global retail markets as marketing strategies in future Korean enterprise through a comparative study on Korean and Thai consumers.

• Journal of the Korea Fashion and Costume Design Association
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• v.10 no.3
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• pp.127-136
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• 2008

The main focus of the study resides in antecedents of price acceptability. Levels of acceptable price may be related to the consumers' perception on reasonable or expected price. Price acceptability is known to have several psychological antecedents. One of the antecedents to price acceptability reported by prior researches is price-quality inference, a tendency to correlate high price to excellence in quality. In addition, price-conscious consumers are likely to show lower level of price acceptability level. Another well-known antecedent is sale proneness. Sales-prone consumers may relate price of apparel products to product quality information. Moreover, it was reported that involved consumers should be more concerned with the products to its price and thus should have higher levels of price acceptability. A conceptual model with price consciousness, sale proneness and product involvement as the exogenous variable, price-quality inference and price acceptability as the endogenous variable was developed for the empirical study. Measures of research variables were developed based on previous studies. Questionuaires from 298 respondents were analyzed for the study. The average age of respondents was 27. About 60% of the respondents were married and about 65% of them had college degrees. Empirical results supported all of the hypothesized relationships. Price consciousness had significant negative influence on price-quality inference and price acceptability. Sale proneness significantly influenced price-quality inference, while apparel involvement had significant impact on price-quality inference and price acceptability. Price-quality affected price acceptability significantly. This study generated a framework to help scholars understand antecedents of price acceptability of apparel products. Price has been shown to playa dual role in consumer's perceptions, either positively or negatively. Price consciousness played a negative role, and product involvement had a positive role in evoking higher level of price acceptability. This study also suggests additional source of positive, yet indirect role of price, sale proneness. This study also affirmed the importance of price-quality inference in arousing higher level of price acceptability.

• Fashion & Textile Research Journal
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• v.12 no.4
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• pp.450-458
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• 2010

The purpose of this study was to investigate the effect of shopping orientation on price perception and the effect of shopping orientation and price perception on purchase satisfaction. This study administered a questionnaire survey to adults in their 20s and 30s who had once purchased fashion products in surrogate internet shopping malls. Among 327 questionnaires, 263 were collected through convenience sampling and 94 were collected from six internet communities. Data were analyzed by factor analyses and regression analyses. The results of this study are as follows. First, factor analysis of price perception revealed that two factors such as price reasonability and price reduction were extracted and the mean of price reduction was higher than one of price reasonability. Second, factor analysis of purchase satisfaction extracted four factors such as service quality, shopping convenience, product scarcity and product variety/price satisfaction. Mean comparisons showed that the mean of product scarcity was the highest among four factors. Third, regression analyses that recreational, economic, and convenience shopping orientation affected price reduction, a factor of price perception. Fourth, regression analyses showed that shopping orientations and the price perception had significant effects on the purchase satisfaction.

• Korean Journal of Human Ecology
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• v.13 no.6
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• pp.943-957
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• 2004

The purpose of this study is to 1) understand the importance of brands, which are known as one of the key purchasing points to consumers today; 2) 10 clearly clarify the various attributes of goods well-known to consumers; 3) to research the effect of the goods attributes on brand attitude. We examined 465 consumers to understand a purchase or a shopping habit with national and non-brand. The study used SPSS 11.0 package for a data analysis. Then using varimax rotation, we employed a factor analysis to analyze the data and obtain Cronbach ${\alpha}$ value. For more specific data analysis, we conducted t-test, regression analysis, and x2 analysis. The results are as followings: 1. The goods attribute is classified into product attribute, shop attribute, and price attribute. The product attribute is divided into wearability, labeling of size and quality, aesthetic expression, brand expression-harmony, textile-suitability, manageability and product assortment. The shop attribute is into shop environment, shopping convenience, promotion, salesperson service, convenience of location, shop's reputation. The price attribute is into price reasonability, price value, price economy, and price information. 2. The product attribute is different, by national and non-brands, in wearability, labeling of size and quality, brand expression-harmony, textile-suitability, manageability. The shop attribute had a significant difference in environment of shop and its reputation, and the price attribute had one only in price economy. 3. The brand attitude was affected by wearability, aesthetic expression, shop environment, price value, and price information. 4. Also, there exists a difference by demographic variables(age, job, academic background, marriage, income level) in brand attitude. For example, national brands have its consumers with the following variables: higher education, higher income, professional job, over 20s, and married.