Examination of Consumers’ Perceived Quality and Willingness to Buy in the Context of Price Variability and Frequency of Price Change: A Study of Retail Products

Keywords: Frequency of price changes, price variability, perceived quality, willingness to buy

Abstract

Marketing managers are able to influence consumers' perceptions of quality and their willingness to buy, using the frequency of price changes and price variability. This study aims to examine the differences in the frequency of price changes and price varia- bility, in terms of the perceived quality and the willingness to buy. For this purpose, using values calculated according to the average and standard deviation of the market price of a specified product, we obtained two different price variations, ±1σ and ±2σ, and price stim- uli determined at two different frequencies of price changes (three and seven times were considered), which resulted in four different participant groups. At the end of the study, a statistically significant difference was only found between consumers in the low price var- iability and infrequent price change condition and consumers in the high price variability and infrequent price change condition, in terms of the perceived quality.

Author Biographies

Kalender Özcan ATILGAN, Mersin University

Atilgan, Kalender Özcan, is a Professor in Management Information Systems at the Mersin University. He earned his B.Sc. in Industrial Engineering from Dokuz Eylul University in 2004 and his M.Sc. in MBA from the Dokuz Eylul University in 2006. He received his Ph.D. in marketing from the University of Cukurova in 2012. He has publications on pricing, behavioral pricing, retailing, and branding.

Author’s contact detail: Address: Management Information Systems, School of Applied Technology and Management of Erdemli, Mersin University, Turkey; phone number: +90 324 515 6023; Email: atilgan@mersin.edu.tr

Evrim Ersin KANGAL, Mersin University

Kangal, Evrim Ersin, is an Associate Professor in the Department of Computer Technology and Information Systems at Mersin University. He received his B.Sc. in the physics department from Mersin University in 2008. He has completed his Ph.D degree in high energy physics at Cukurova University and the European Organization for Nuclear Research(CERN) in 2013. His Ph.D. thesis is to investigate both the dark matter and extra dimension signal in the monojet events emerging from the proton-proton collision. He also solved theoretical particle equations like the Dirac, Klein-Gordon, and Duffin-Kemmer-Petiau in various spacetimes metrics to understand the effects of general relativity. He has also published many studies related to the application of machine learning algorithms to the field of physics and medical research in recently.

Author’s contact detail: Address: Computer Technology and Information Systems, School of Applied Technology and Management of Erdemli, Mersin University, Turkey; phone number: +90 324 515 60 23; Email: evrimersin@gmail.com

Muharrem TALASLIOĞLU, Mersin University

Talaslioglu, Muharrem, is a PhD candidate in Marketing. He earned his Bachelor's degree in Business Administration in 2016 from Mersin University, Faculty of Economics and Administrative Sciences. He holds a master degree on Business Information Management from Mersin University in 2019. His research interests include pricing, consumer behavior, online marketing and retailing.

Author’s contact detail: Address: HWG GmbH Drahtzieherweg 7 47877 Willich, Germany; phone number: +49 163 7784173; Email: mtalaslio@outlook.com

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Published
2024-05-02
How to Cite
Özcan ATILGAN, K., KANGAL, E. E., & TALASLIOĞLU, M. (2024). Examination of Consumers’ Perceived Quality and Willingness to Buy in the Context of Price Variability and Frequency of Price Change: A Study of Retail Products. Gadjah Mada International Journal of Business, 26(2), 165-183. Retrieved from https://jurnal.ugm.ac.id/v3/gamaijb/article/view/14786
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Articles