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Purpose Every year, millions of consumers around the world become victims of credit card fraud. These individuals have to appeal to their credit card companies to reverse unauthorized charges. This study aims to profile the American consumers’ experience when complaints to their credit card companies about unauthorized charges fail to produce a resolution. Using a large database of consumer complaint filings with the Consumer Financial Protection Bureau (CFPB), the characteristics of these consumer complaints are identified, and the drivers of consumer financial hardship resulting from credit card fraud are determined. Design/methodology/approach A random sample of consumer complaints about their credit card companies’ perceived mishandling of cases, filed with the CFPB, is used to conduct content analysis. The resulting content analysis categories are used in a predictive model to determine the drivers of consumer hardship. Findings In nearly one-quarter of all complaint filings, the credit card company had blamed the complainant as the party responsible for the fraudulent charges or refused to open a fraud investigation altogether. Nearly 60% of complaint reports contain expressions of emotional distress and many mention financial hardship. Nearly half of all complainants consider the fraud department operations of their credit card company as lacking in service quality, many reporting inability to reach the department or to receive a returned call. Even after CFPB intermediation, only 15% of complainants receive some form of financial relief from their credit card company. The majority of the complainants report a lack of willingness by the credit card company to reverse unauathorized charges, leaving the complainant financially responsible for them. Research limitations/implications This study focused on data collected from consumers. Future research can expand the scope of inquiry by surveying the staff and executives in the fraud investigation departments of credit card companies to determine the norms of fraud investigation used within the industry. Social implications This study sheds light on the financial hardship and emotional pains that consumers victimized by credit card fraud experience in dealing with their credit card companies. Originality/value To the best of the authors’ knowledge, this is the first study to empirically examine American consumers’ complaints about the fraud investigation operations of their credit card companies. Using data captured through the complaint filing system of a federal bureau (CFPB), the findings have implications for policymakers, regulators and credit card companies.

Quantity surcharges represent situations in which consumers are charged unit prices for buying large packages of a product that exceed the unit prices for smaller packages. This practice challenges...

Purpose Entrepreneurial aspirations are essential to the creation and survival of many businesses and to the economic development of nations. Understanding the drivers of entrepreneurial intentions is therefore of central importance from both academic and public policy perspectives. This study aims to explore how entrepreneurial intentions are affected by an individual’s need for cognition (NFC), gender, risk preferences and educational profile. Design/methodology/approach Using survey data from 668 individuals, the effects of the above factors are empirically established and the mediating role of decision confidence is also examined. Findings The results indicate that NFC, gender and risk preferences affect entrepreneurial intentions. Furthermore cross-disciplinary differences in entrepreneurial intentions are found within the different sub-disciplines of business. Research limitations/implications This paper expands the current body of literature by exploring the combined NFC with risk preferences and gender, on individuals’ entrepreneurial intentions. Furthermore, the entrepreneurial intentions of marketing majors are also contrasted with those of other majors. Practical implications The findings of the study identify drivers of entrepreneurial intentions and their varying effects. The results can assist in the development and customization of training programs for entrepreneurs. Originality/value To the best of the author’s knowledge, this is the first study to examine the combined effects of NFC, gender, risk preferences and educational profile on entrepreneurial intentions.

The number of online MBA programs has increased in recent years while the demand is stabilizing. In light of this trend, the pricing of online MBA programs is an important issue for university administrators and policy makers, who are concerned about program competitiveness and public access to higher education. This study examines the drivers of tuition levels for online MBA programs. Utilizing data from 149 programs in the United States, the influence of various variables on tuition levels is empirically established. The findings indicate that residency and GMAT requirements, as well as enrollment size and student-to-faculty ratio, are important determinants of tuition for online MBA programs. The empirical framework presented in this paper allows university administrators to establish if the tuitions charged for their programs are consistent with market norms, and thereby determine the potential need for adjustment in tuition levels.

The period following the outbreak of the COVID-19 pandemic presented monumental challenges to education systems around the world. In the United States, the unique effects experienced by business students due to the rapid adoption of distance teaching methods resulted in significant changes in the students' learning environments. Using expert reports published in the media, this article systematically reviews the pattern of student experience cited by experts, and identifies six disruptive effects. Furthermore, the disruptive nature of the changes is contrasted with earlier historical contexts in which distance business education had been deployed to overcome societal challenges. The article concludes with a discussion of expected changes resulting from the massive deployment of distance education methods among business schools in the post-pandemic era.

Quantity surcharges occur when large quantities of a product are sold at a higher unit price compared to smaller quantities. As such, quantity surcharges violate consumer beliefs that one s...

Quantity surcharges represent unique situations in which larger quantities of a product are sold at a higher per‐unit price than smaller quantities of the same product. This practice conflicts with commonly held views that consumers would be given a discount for purchasing larger amounts of a product. Most of the studies on the quantity surcharge phenomenon date back over three decades and none have explored the phenomenon in online shopping settings. In this study, utilizing data from an online shopping environment, the incidence of quantity surcharges is examined across various product categories. The drivers of both quantity surcharges and quantity discounts are examined. The findings indicate that quantity surcharges and quantity discounts are affected by the format of prices presented to consumers, the number of quantity options available, online product ratings, and the product category. The paper concludes with a discussion of the findings and implications for research and practice.

Purpose While existing research has established various methods for pricing, the impact of a manager’s individual psychological profile on his/her price setting behavior is relatively unexamined. This is especially critical in the context of pricing decisions implemented in response to competitive forces. This paper aims to explore how a manager’s price responses to price cuts by a competitor are affected by his/her cognitive style, gender and entrepreneurial attitudes. Design/methodology/approach In the first study, a simulation-based pricing environment is used in a lab setting to capture the dynamics of pricing decisions made in response to competitive price cuts. Participants’ price responses are captured in the form of the magnitude of price change implemented in a simulated environment in response to a competitor’s price reduction. The second study extends the scope of inquiry by using a national sample of business professionals and replicates and reinforces the findings of the first study by capturing participants’ attitudinal response on the decision to reduce prices in reaction to competitive price reductions. Findings The results of both studies indicate significant effects for cognitive style, gender and entrepreneurial attitudes. Individuals with stronger entrepreneurial attitudes and analytical cognitive styles, and females are less likely to engage in reactive price reductions. Research limitations/implications The findings of this study indicate that managers’ propensity to engage in price changes in reaction to competitors can be linked to their psychological profile and gender. Practical implications Given the existence of the relationship between price reactions of managers and their cognitive style and entrepreneurial attitudes, the training and development of pricing professionals may need to take these individual-level factors into account. Originality/value This is the first study that has linked managers’ propensity to engage in price changes in reaction to competitors to their gender and psychological profile.

The use of distance learning methods by universities has experienced significant growth over the past two decades. While this growth has been witnessed nearly equally across the various academic disciplines, it represents unique opportunities in business education. In this article we will profile how technological innovations in distance learning have historically caused disruptive changes in business education. The article then profiles three specific distance learning technologies that are emerging as revolutionary forces in changing business education. The impact of these technologies will be examined from both a pedagogical perspective and an institutional perspective. The influence of these educational technologies in addressing the unique needs of business students will also be discussed.

Purpose Research in marketing has extensively examined the signaling effects of product warranties on consumer perceptions. Although this stream of research has focused on initial product warranties offered by the manufacturer, studies of extended warranties, which protect consumers against product breakdowns beyond the warranty constraints of the manufacturer, are relatively scarce. This paper aims to empirically establish the effects of variables which influence the pricing of extended warranties for consumer durables. Design/methodology/approach Using data on over 8,000 product offers in six durable goods categories, drivers of the annual premiums for extended warranties are empirically identified. Bivariate and multi-level hierarchical linear regression methods are used to establish the effects of factors which may drive the prices of extended warranties. Findings The results reveal that the standardized annual premiums for extended warranties systematically vary across product categories and brands and are further affected by the retailer’s decision to use odd price endings for the sold product and the extended warranty. The influences of warranty length and price level of the protected product on extended warranty premiums are also empirically established. Research limitations/implications The findings indicate systematic variations in extended warranty prices as a result of the factors studied. Future research can extend this line of inquiry by utilizing alternative means of data gathering. Practical implications Given that marketers often cross-sell many consumer durable goods with extended warranty policies, and considering the growth in consumer spending in this category, as well as the high retail margins associated with extended warranties, this paper contributes to the understanding of the mechanism by which extended warranty prices are determined in the marketplace. Originality/value This is the first study to examine the determinants of extended warranty prices, as past studies have been normative and non-empirical in nature.

One of the fundamental drivers of the growing use of distance learning methods in modern business education has been the efficiency gains associated with this method of educational delivery. Distance methods benefit both students and educational institutions as they facilitate the processing of large volumes of learning material to overcome barriers related to time, geography and physical facility constraints. Nevertheless, existing research has not examined the extent by which these efficiency gains, compared to traditional face-to-face teaching, are recognized by online students. Moreover, the extent by which students’ perceptions of course efficiency affects other key educational measures, such as intent to take online courses in the future, and instructor and course ratings, has not been examined in current research. In this paper, utilizing data from student evaluation of teaching (SET) surveys from multiple sections of three online marketing courses, the effects of perceived course efficiency on various SET measures are examined. The results indicate, that contrary to popular belief, students who view online courses as efficient exhibit lower sentiments towards the course and the instructor, and are also academically weaker than other students. The paper concludes with a discussion of the findings and future directions for research.

The growing recognition for the role of trust in financial services transactions has become more evident since the global financial crisis. A dominant perspective arising from this recognition has been regarding the responsibility of financial services providers for the depletion of consumer trust in the financial services sector. However, the loss of trust that may result in many financial transactions can also be attributed to consumers’ own lack of discipline and poor knowledge of financial matters. In this article four cognitive phenomena that inhibit consumers’ information processing abilities and contribute to the depletion of trust in financial services transactions will be discussed. The responsibilities of marketers, regulators and educators in equipping consumers with the means to overcome these cognitive limitations in order to improve their financial decision quality are discussed.

Although considerable research exists on the impact of exposure to violence on individual and group behavior, existing research has not examined how violent media are valued by consumers, specifically as it relates to the pricing and promotion of media products. In this study a total of 960 monthly price observations for video games and DVD movies were collected. Pricing data for the month of product launch as well as the months following the launch were compiled and subjected to ANOVA and regression analyses, to determine the role of violent content on both new and pre-owned prices. Consistent with the theoretical framework presented, the results indicate that violence can systematically impact prices, but the impact depends on the medium. In the video game market violent content contributes to a faster rate of price depletion, while in the DVD market it helps new product prices appreciate post-launch. The article concludes with a discussion of the implications of the findings for managers, public policy...

Economic theories related to ethical consumer behaviour have for the most part examined the role of external incentives and deterrents, and relatively less focus has been given to the role of internal incentives. This study explores the independent and joint effects of internal rewards and external punishment mechanisms on the likelihood of consumers exhibiting unethical behaviour in insurance fraud (IF) contexts. By utilizing a data set consisting of survey data on over 43 000 consumers across 26 European countries, this study examines the interaction of internal moral values and external deterrents, affecting unethical consumer behaviour. Ordinal regression analysis and binary logistic regression were used to assess the role of internal rewards and external punishment mechanisms in the occurrence of IF. Attitudinal differences towards IF and perceptions of the probability of being caught were used to classify customers and to predict the incidence of IF. Demographic variables were also found to be correlated with IF. Perceptions of ineffectiveness of fraud investigation and detection systems by fraudulent customers significantly influences their likelihood to commit IF.

Teaching evaluations are an important measurement tool used by business schools in gauging the level of student satisfaction with the educational services delivered by faculty. The growing use of online teaching evaluations has enabled educational administrators to expand the time period during which student evaluation of teaching (SET) surveys can be completed by students. This added benefit increases the complexity of data collection and introduces new questions related to the time window during which SET survey administration should commence and stop. This article examines the role of the timing of SET survey completion on student satisfaction measures in the context of online marketing courses. The results indicate that there are significant differences between those students who respond early to survey invitations and those who respond late. Early responders and late responders reflect different segments of the student body, have different course evaluation formation dynamics, and exhibit different grade expectations. The findings suggest the existence of systematic biases in SET scores related to response rate, requiring educators to closely examine policies related to the timing of SET survey administration.

Existing research profiling consumer financial sophistication has examined specific decision errors that consumers may make in financial matters. While these errors have been replicated in multiple studies over the years, most have emerged from highly controlled experimental settings or through consumer surveys that measure only specific categories of financial behavior. This paper extends existing research on financial sophistication by utilizing an ethnographic study conducted over a 5-year time period. Results indicate that while some of the traditional categories of decision errors defined in earlier research affect consumers, decision errors not thoroughly examined in previous academic studies can have a notable and growing effect on consumers' financial decisions. Emerging categories of financial decision errors are identified, and shifts in consumers' financial behavior resulting from the financial crisis are profiled. Copyright © 2014 John Wiley & Sons, Ltd.

An emerging question in business education is whether all students would benefit from distance learning and if student performance can be predicted prior to enrollment in an online course based on student characteristics. In this paper, the role of student characteristics on academic performance is examined in the context two different online courses. Empirical test of a selfassessment tool on 272 students across 9 course sections, using a logistic regression framework demonstrates that end-of-semester student grades can be predicted by students' own self-reports of their learning preferences at the onset of the course. However systematic differences are found between the two courses in terms of the drivers of student performance, demonstrating the importance of a customized approach to the predictive framework presented.

PurposeThe objective of this paper is to propose and empirically test a potential mechanism for how consumers form reference prices. The proposed peak‐end rule of reference price formation says that reference prices are formed as a weighted average of the highest observed price and the most recent price.Design/methodology/approachThe authors argue why the peak‐end rule observed in satisfaction contexts may also apply to the process by which consumers form reference prices. They then test the proposed peak‐end rule using IRI scanner panel data for decaffeinated coffee.FindingsFit and predictive validity of a choice model improves when a reference price term based on the peak‐end rule is added. While the most recent price has a greater impact on reference price, the effect of the highest observed peak price is also significant, managerially and statistically.Research limitations/implicationsThe study provides evidence for a novel and behaviorally plausible reference price formation process.Practical implicationsTemporarily charging a high price has a longer‐lasting effect on reference price than would be suggested by other reference price models, which typically involve a quickly decaying lag effect. Temporarily charging a very high price to restore the reference price may therefore be a useful pricing tactic.Originality/valueWhile the peak‐end rule is amply supported as a mechanism by which consumers form global satisfaction judgements, its application to reference price formation is novel, and has some potentially useful implications.

Cross-selling of extended warranties has become the norm in many durable consumer goods categories. These warranties typically cover parts and labor repair costs for durables for a pre-specified period beyond the standard product warranty. The cross-selling of extended warranties is now so prevalent that in certain product categories such as consumer electronics they account for the majority of retail profits. Margins are extremely high—in some cases in the 50–80 % range—compared to roughly 10 % for the typical product (Berner 2004). This has prompted the interest of public policy makers in some countries. In the UK, for instance, sellers of extended warranties are required to upload all offers to a central website, ensuring transparency to consumers.

The number of innovative financial solutions introduced to markets has grown considerably in the past decade owing to emerging digital technologies, deregulation and market fragmentation. Examples are abundant in the worldwide markets for insurance, credit products and transaction processing services. A question of growing interest is how firms should price these innovations. The optimal introductory pricing of financial innovations may vary as a function of factors such as price sensitivity of the market and competitors’ ability to introduce competing financial solutions. In this article, we examine the role of these factors in the optimal pricing of a financial innovation. Using an agent-based simulation framework, introductory pricing strategies that maximize profitability under various market conditions are identified. Results indicate that lower levels of market price sensitivity and longer time horizons for competitive entry create pricing opportunities for financial innovators. However, the relationship becomes more complex as market price sensitivity increases or competitive market entry becomes more immediate. Detailed recommendations for optimal pricing of financial innovations under various market conditions are provided, and the article concludes with strategic recommendations for pricing innovative financial services.

Much of the existing research in distance education has focused on contrasting the outcomes between traditional face-to-face teaching and purely online courses, in which the entire course content is delivered online. However, research has not examined the effectiveness of hybrid-online courses, in which a combination of online delivery and face-to-face classroom teaching is used, especially in the context of marketing courses. This paper examines student experiences and learning outcomes in purely online and hybrid-online course formats. For both formats, student satisfaction is found to be affected by the course content, student-teacher communications, the use of effective learning tools, and the instructor. Improvements in perceived learning and course performance scores are observed for the hybrid-online format in the context of a qualitative marketing course while no such benefits are observed for a technical marketing course. The results indicate that the merits of different distance learning approac...

PurposeThe growing volume of consumer transactions in used products markets has given rise to strategic decisions made by sellers in the amount of information disclosed on usage‐based attributes – product attributes that quantify the degree by which a product has been used. This paper seeks to address this issue. Based on the phenomenon referred to as the dilution effect, it is proposed that sellers would have less desire to disclose usage‐based attribute information in product advertisements for older products. The effects of usage‐based attributes on asking prices of used products are also examined and profiled across time and contrasted across three countries: Britain, Canada, and the USA.Design/methodology/approachUsed product advertisements were obtained for 1995 (USA) and 2010 (USA, Canada, and Britain). The ratio of ad content dedicated to usage‐based attributes was then computed and profiled across various conditions, and variations were tested using statistical methods.FindingsThe results indicate that a dilution‐based strategy, whereby usage‐based product information is less likely to be disclosed for older products, was evident in 1995 as it was in 2010. Furthermore, cross‐country variations were observed in the use of this strategy.Research limitations/implicationsThe research presented can be expanded to cover other product categories where used products are exchanged and usage‐based attributes constitute a fundamental consumer consideration in such exchanges. The research can also be extended to cover a wider range of countries for analysis.Originality/valueThis paper extends traditional pricing theory to consider the effects of usage‐based attributes on used product prices and associated consumer communications. Given the growth in the volume of consumer transactions in used product markets, this line of inquiry is relevant not only from an academic perspective but can also inform public policy and potential regulatory measures.

Consumers increasingly rely on product quality information provided by third-party product ratings organizations. These organizations undertake the task of examining and testing competing products in the marketplace, establishing the level of quality associated with each product, and communicating this information to consumers. Despite the important role of product quality ratings in consumer decisions little research has been conducted to establish the factors which may influence consumer perceptions of these ratings. This paper examines the role of the information content provided by product quality ratings organizations on consumer perceptions. Furthermore, the influence of contextual variables, namely information cost, product category and advertising content, is examined. The results indicate that both content and context significantly influence consumer perceptions of source credibility and their intentions to use the product quality ratings in their purchase decisions.

PurposeThe purpose of this article is to conduct a formal study of how the prices for online MBA programs in the USA are determined. The paper examines the effects of perceptual (e.g. rankings and accreditation) and structural characteristics (e.g. program length, program format) of online MBA programs on tuition levels charged.Design/methodology/approachPublicly available secondary data from a sample of 115 online MBA programs in the USA, including program characteristic information and prices, is used. Regression analysis is used to uncover the underlying pricing model.FindingsPerceptual variables are found to have significantly greater effect on prices charged than structural variables, at times enabling institutions to nearly double their revenue stream on a per‐student basis.Research limitations/implicationsThe research approach can be extended to uncover the pricing models used in distance learning programs in fields other than business, and to examine such relationships outside the scope of American institutions.Originality/valueThe use of distance learning methods for delivering course instruction in degree‐granting institutions has witnessed significant growth over the last decade. This trend has enhanced the ability of business schools to serve students that are geographically dispersed, and today nearly 400 such programs are offered in the USA alone. Despite the growth, no formal study has examined how prices (tuition levels) for such programs are determined.

Financial services are often provided to consumers over an extended period of time. In pricing these services, financial services marketers have the ability to charge lump-sum amounts in advance, of the time period during which the service will be provided, or to divide their prices into a sequence of payments extended over the length of the service agreement. Consumer perceptions of the offer and their subsequent expectations regarding service quality may be affected by the marketer's choice of divided or lump-sum pricing. Service quality expectations may be further affected by the reputation of the financial services provider and the risk associated with the financial transaction. The goal of this article is to explore the perceptual effects of divided versus lump-sum pricing, and potential interactions that may exist with company reputation and financial service risk. Using an experimental design, the results indicate that divided pricing has varying effects on consumer expectations of service quality, depending on firm reputation and the underlying risk associated with the financial service. The article concludes with a discussion of the findings and implications for practitioners and researchers.

In the past decade, there has been notable accumulation of evidence suggesting that many households have considerable difficulty navigating their financial path. For example, the national savings rate in the United States has become negative, resulting in growing consumer debt and challenging the financial well-being of the population. Furthermore, since the mid-1990s the bankruptcy rates have nearly doubled in the United States, and account delinquencies for credit cards and home mortgages have systematically grown. Interestingly, these trends have been witnessed at a time when new marketing regulations have been proactively introduced to the financial services sector, with the objective of better protecting the consumer from deceptive marketing practices and reducing households’ financial hardships.1–4 During the same time period, an increased focus on the development and assessment of financial literacy programmes has also been witnessed.5,6

This article reports on a national survey of university faculty members in the United States regarding the factors that influence their purchases of scholarly books. In total, 233 faculty members from eleven disciplines in more than fifty universities were surveyed. The survey gauged the impact of a series of factors that influence scholarly book purchases for research and teaching. In addition, sources of information used to locate scholarly books of interest were identified and contrasted across fields of study. The survey also examined trends in the respondents’ book-buying behaviour, their propensity to purchase used books, and the frequency with which they used university library systems to obtain access to scholarly books.

PurposeThe purpose of this paper is to examine the extent of use of the price‐quality cue in financial services, and to uncover some of its drivers. The drives studied are: advertising exposure, product complexity, and consumer price knowledge. The use of price as an indicator of quality has been a well‐documented phenomenon in consumer goods markets. However, the existence of this relationship has not been tested in services, and in particular in financial services markets.Design/methodology/approachA consumer survey of over 200 individuals contacted through intercept interviews was conducted. The use of the price‐quality cue and its drivers were measured using multi‐item scales, for six financial services categories: checking accounts, financial advisory services, automobile insurance, home insurance, life insurance, and tax accounting.FindingsSignificant variations in the use of price as an indicator of quality across financial services categories are identified. Furthermore, it is found that both consumer price knowledge and advertising exposure increase the use of the price‐quality cue, while product complexity was found to have no significant impact on price‐quality cue utilization for financial services.Research limitations/implicationsFuture research could expand the array of variables which drive consumers' use of the price‐quality cue. In addition, a wider range of financial services categories could be studied.Practical implicationsKnowing the extent by which consumers depend on the price‐quality cue in their decisions is critical to optimal positioning of a financial brand. This paper provides specific managerial recommendations on how to approach the pricing and marketing of each of the six financial services categories studied. In addition public policymakers may find the findings of interest due to quality perception biases that may result from financial services providers' pricing tacticsOriginality/valueWhile previous research studies in price‐quality cue utilization have primarily focused on manufactured goods, this paper is the only study that has examined the dynamics of price‐quality cue utilization by consumers in financial services. This is an important inquiry due to the large volume of consumer expenditures in financial services categories, and the significant impact that these categories have on the financial stability and well‐being of the public.

In recent years, the volume of research on the public’s lack of trust in business and government has significantly grown. Research has, for example, focused on drivers of public distrust in political entities and elected officials (Hetherington and Husser 2012), perceptions of trustworthiness of business leaders (Kramer 2009), and drivers of trusting relationships within organizations (Coutu 1998). In much of this research, the perspective of the inquiry has been on general levels of trust, both internally within organizations (Hurley 2006) and externally involving parties with competing interests (e.g., Hopkins 2011). While the accumulated research has provided a general macro view of trust, very little research has been conducted to pinpoint the sources of consumer distrust in specific business practices and especially related to financial services marketing practices.

PurposeThe service profit chain postulates that higher employee satisfaction levels lead to high customer satisfaction, and ultimately affect consumer loyalty and profitability. One construct that has largely been ignored in most of this research has been the role of employee turnover. This paper proposes that employee turnover can also be a powerful predictor of employee sentiment and resulting customer satisfaction levels.Design/methodology/approachThe relationship between employee satisfaction, employee turnover and customer satisfaction ratings is explored using an extensive data set from a chain of convenience stores. Employee perceptions were obtained from a survey which developed and administered to all store personnel. Turnover data were obtained from archival data. The data are analyzed using path analysis.FindingsThe test of various turnover indicators suggests that certain employee turnover indicators can perform as effectively as single‐item employee satisfaction ratings do in predicting customer satisfaction.Originality/valueThe finding that turnover predicts customer satisfaction as effectively as employee satisfaction is new and has important implications. More attention should be paid to managing customer satisfaction through managing turnover. Also, the use of turnover as an indicator of customer satisfaction should be explored in light of the fact that employee turnover is a naturally collected managerial measure, and does not require the costly administration of employee satisfaction surveys.

Price-Matching Guarantees (PMGs) are a mechanism by which retailers can reassure consumers of the competitive price of products they offer. While current research in marketing has studied consumers’ pre-purchase perceptions of the retailer as a result of offering price-matching guarantees, research on the post-purchase impact of PMGs has been relatively limited. While price-matching guarantees are typically assumed to result in positive consumer perceptions of the retailer, no study to date has examined the potentially negative post-purchase impact of PMGs. This paper examines the potential negative effect of policy restrictions which may prevent the disbursement of a price-matching refund, on consumer perceptions. Two experiments (Experiment 1 n = 120, Experiment 2 n = 50) are utilized to dissect the impact of policy restrictions on consumers’ perceptions of service quality, price, and loyalty. The paper concludes with a discussion of the managerial implications of the findings on price-matching guarantee policies.

This article evaluates the economic structure of academic and non-academic libraries; the impact of the ‘serials crisis’ on academic and non-academic library budgets and non-profit university presses; the impact of libraries on the academic life of universities; the impact of the electronic distribution of scholarly content on libraries, academics, students, and university presses; the response of the library community to scholarly book and journal pricing structures; the potential impact of changes in library configurations; the possible impact of the Open Access movement; and the potential impact of the ‘work for hire’ theory.

PurposeDespite retailers' growing use of lowest‐price refund policies, little is understood about how consumer satisfaction is influenced by them. This paper examines the potential role of market price volatility and store image on consumers' satisfaction of stores offering a lowest‐price refund.Design/methodology/approachBetween‐subject experimental design is used in which subjects are presented with simulated shopping scenarios. In the shopping simulation lowest price refunds are provided to the subjects under different price volatility and store image conditions. Consumer satisfaction is then measured.FindingsResults indicate that when market price volatility is high consumer satisfaction with lowest‐price refunds tends to be significantly higher for stores with a good image than stores with a poor image. As market price volatility increases, consumer perceptions of value increases for stores with a good image, while it declines for stores with a poor image.Research limitations/implicationsThe results of the study are limited by the simulated shopping methodology that is used and the absence of field shopping behavior and covariate satisfaction and refund data from retail stores.Practical implicationsDespite receiving the same outcome, different consumers' satisfaction with lowest‐price refunds may be highly influenced by the environment. Generally, both market price volatility and store image influence consumer satisfaction.Originality/valueBy identifying specific market conditions that influence consumer satisfaction with lowest‐price refunds, it may be critical for certain retailers to mobilize their refund programs.

Scholarly journals play a substantive role in the dissemination of knowledge among academics, and university presses have been exceptionally active as journal publishers. But since 1981 a series of events has affected, and in some instance adversely affected, journal publishing.

Consumer awareness of prices is a fundamental requirement for sound purchase decisions. However, while in recent years the volume of research on consumer price awareness for manufactured goods has grown significantly, studies of price awareness in services, and in particular in financial services are almost nonexistent. As a result, the overall understanding of the level price awareness for financial services and its potential determinants has been limited. This paper profiles the level price awareness for a series of financial services as well as non-financial services. Systematic differences between financial and non-financial services are empirically examined, and the related drivers are contrasted between the two types of service. The paper concludes with a discussion of the implications of the findings on the pricing and marketing of financial services.

What was the market for university press books in the United States between 1997 and 2002? What impact did shifts in the general reader market and the creation of library electronic reserve capabilities have on university press net publishers' revenues? What impact did Internet bookselling sites have on new and used frontlist titles? The study reported here reviewed the published literature and statistical data sets. We detected (a) a significant shift in the traditional channels of distribution and (b) the emergence of a sophisticated used book market that undermined both frontlist and backlist sales. Based on a review of the empirical data, we present a series of recommendations for the university press community designed to capitalize on the inherent competitive advantages of university presses.

Existing research in pricing has not extensively examined the impact of the product category on consumers’ knowledge of prices, especially for durable goods. In two empirical studies, this paper examines the influence of the product category on consumers’ knowledge of prices for durables. The first study utilizes data from the popular television game show The Price is Right to establish significant cross-category variations in price knowledge, while the second study links these variations to the specific characteristics of each product category. The results extend existing research findings by isolating the impact of product category determinants, such as purchase frequency, advertising exposure, and use of the price–quality cue, on consumers’ knowledge of prices.

A significant amount of research in pricing has focused on price as a unidimensional construct – one consisting of a single number (e.g. $1.99). However, the evolving marketing environment, combined with notable growth in services and goods categories that require the communication of complex price information, has led to the use of multi‐dimensional prices. Multi‐dimensional prices consist of multiple numbers (e.g. $199 a month for 36 months) and as a result require the consumer to carry out specific mental computations to determine the cost of the offer. In this paper, empirical evidence on consumer difficulty in evaluating multi‐dimensional prices is examined. Then the strategic impact of such difficulties for pricing managers as well as regulators is examined. The paper concludes with a discussion of the implications of multi‐dimensional pricing on past research findings, and reflects on existing understanding of consumer response to price.

Research indicates that about one in five consumers experiences dissatisfaction with purchases made. A significant proportion of these dissatisfaction incidents is a direct result of postpurchase price-related disputes between the buyer and the seller. Existing research has not specifically studied the sources, characteristics, and dynamics of postpurchase price complaints, and their differences with nonprice complaints. Using a survey of consumer complaint reports, this paper examines the frequency and characteristics of various forms of postpurchase price complaints. It is found that nearly one-fifth of all postpurchase consumer complaints to businesses are price related. Price complaints were also found to be significantly different from nonprice complaints in their cross-category frequency and resolution determinants.