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Darren Dahl (Editor in Chief)Eileen FischerGita JoharVicki Morwitz

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Consumers' Immediate Memory for Prices

Marc Vanhuele, Gilles Laurent, Xavier Drèze
DOI: http://dx.doi.org/10.1086/506297 163-172 First published online: 1 September 2006

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.

  • Cognitive Processes
  • Pricing
  • Language
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