Measuring price thresholds using social judgment theory
William Theodore Cummings D.B.A., Lonnie L. Ostrom Ph.D.
Journal of the Academy of Marketing Science · 1982 · Volume 10 · Issue 4
Abstract
Price perceptions of 120 homemakers were assessed for one product using social judgment theory. In keeping with the theory, the homemakers' latitudes of acceptance, rejection, and noncommitment were established in a laboratory experiment. Product involvement and price sensitivity were manipulated, and their impact on the respective latitudes was measured. Implications for price strategy based on the analysis are presented.
Keywords
Price Strategy, Price Sensitivity, American Market Association, Product Involvement, Price Threshold
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