Are fluent anchors more effective? Field experiment on anchoring, anchor fluency, and willingness to pay

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ŠIMKOVÁ Tereza ĎURINÍK Michal PROCHÁZKA Jakub

Rok publikování 2024
Druh Článek v odborném periodiku
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
www Full-text
Doi http://dx.doi.org/10.1177/21582440241274831
Klíčová slova anchoring effect; willingness to pay; processing fluency; dual process theory; field experiment
Popis Processing fluency of stimuli has been shown to impact consumers’ decision-making. We investigate whether inhibiting the processing fluency of an anchor results in a more pronounced anchoring effect, as is proposed in the existing literature. We use a point-of-purchase field experiment to test the hypothesis that a disfluent anchor in a product name influences consumers’ willingness to pay for this product more than a fluent anchor. The results provide strong support against the fluency—willingness to pay relationship. Contrary to theoretical predictions, our study cautions marketing practitioners against the use of low-fluency anchors in product names.
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