Recent news coverage on pricing portrays the importance of price fairness. This article conceptually integrates the theoretical foundations of fairness perceptions and summarizes empirical findings on price fairness. The authors identify research issues and gaps in existing knowledge on buyers’ perceptions of price fairness. The article concludes with guidelines for managerial practice.

The Price Is Unfair! A Conceptual Framework of Price Fairness Perceptions

Two experimental studies (a lab experiment and a study involving a real usage experience over time) reveal the existence of a strong, positive impact of customer satisfaction on willingness to pay, and they provide support for a nonlinear, functional structure based on disappointment theory (i.e., an inverse S-shaped form). In addition, the second study examines dynamic aspects of the relationship and provides evidence for the stronger impact of cumulative satisfaction rather than of transaction-specific satisfaction on willingness to pay.

/pdf/do-satisfied-customers-really-pay-more-a-study-of-the-1pig4p9hno.pdf

Do Satisfied Customers Really Pay More? A Study of the Relationship Between Customer Satisfaction and Willingness to Pay

The purpose of this article is to present a systematic review of the extensive research that has been conducted on the conceptualization of perceived value. The major conclusions of the present stu...

The concept of perceived value: a systematic review of the research:

Most research in customer asset management has focused on specific aspects of the value of the customer to the company. The purpose of this article is to propose an integrated framework, called CUSAMS (customer asset management of services), that enables service organizations (1) to make a comprehensive assessment of the value of their customer assets and (2) to understand the influence of marketing instruments on them. The foundation of the CUSAMS framework is a careful specification of key customer behaviors that reflect the length, depth, and breadth of the customer-service organization relationship: duration, usage, and cross-buying. This framework is the starting point for a set of propositions regarding how marketing instruments influence customer behavior within the relationship, thereby influencing the value of the customer asset. The framework and propositions provide the impetus for a research agenda that identifies critical issues in customer asset management.

/pdf/the-theoretical-underpinnings-of-customer-asset-management-a-22y3bvl6fq.pdf

The Theoretical Underpinnings of Customer Asset Management: A Framework and Propositions for Future Research

This research aims to examine the relationships among three components of the physical environment (i.e., decor and artifacts, spatial layout, and ambient conditions), price perception, customer sa...

The Roles of the Physical Environment, Price Perception, and Customer Satisfaction in Determining Customer Loyalty in the Restaurant Industry:

Pricing: Making Profitable Decisions by Kent B. Monroe. Reviewed by Julian Hoseason

https://link.springer.com/content/pdf/10.1057%2Fpalgrave.rpm.5170064.pdf

Julian Hoseason

Papers

Pricing: Making Profitable Decisions

Winning the Profit Game: Smarter Pricing, Smarter Branding