Consumers' Immediate Memory for Prices
Marc Vanhuele, Gilles Laurent, Xavier Drèze
Journal of Consumer Research · 2006 · Volume 33 · Issue 2
Abstract
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 the prices' magnitude. The encoding used influences immediate recall performance. The memorability of prices depends on their verbal length, usualness, and on the other prices to be memorized simultaneously. The performance of consumers is affected by their auditory and visual recall ability, their pronunciation speed, and price abbreviation habits. Overall, consumers recall prices better than suggested by previous digit span studies with simple numbers.
Keywords
Cognitive Processes, Pricing, Language
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