In general, consumers establish a preference for one product early in a decision process. When this preference does not include consideration of product prices, the currently preferred product is called the "benefits leader." This article proposes that consumers who switch to a cheaper product after learning prices retain a trace of preference for the benefits leader. Retention of the benefits leader is evidenced by the distortion of new information to favor the benefits leader and by greater-than-normative reversion to it. The authors also find that reversion does not occur when the initially leading product (that consumers switch from) is based on a cost savings. This suggests that though consumers retain cognitive elements associated with benefits leaders, they do not retain similar elements associated with leaders based on cost savings.
|Original language||English (US)|
|Number of pages||10|
|Journal||Journal of Marketing Research|
|State||Published - Dec 2009|
All Science Journal Classification (ASJC) codes
- Business and International Management
- Economics and Econometrics