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Brand antiquity and value perception: Are customers willing to pay higher prices for older brands?

机译:品牌古代和价值观:客户是否愿意为老牌品牌支付更高的价格?

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摘要

Consumers' choices and price-finding decisions are complex processes determined by a series of factors, most of which have been exhaustively studied in the academic and professional literature. However, one factor seems to have passed basically unnoticed until now, namely the brand's antiquity explicitly announced in the companies' logos ("Since...", "Established in..." etc.). The present study is, to the best of our knowledge, the first to analyse how brand antiquity may be perceived by consumers as an indicator of quality -as only brands that sell quality products are supposed to survive in a competitive market in the long run- and to have modelled an experiment to empirically test whether this perception results in a willingness to pay higher prices for products whose brands advertise the company's antiquity than those which do not. Our results reveal that brand antiquity, indeed, has a statistically significant effect on consumers' price setting.
机译:消费者的选择和价格寻找决策是由一系列因素决定的复杂过程,其中大部分是在学术和专业文献中彻底研究的。然而,一个因素似乎基本上被忽视到现在,即品牌的古代明确宣布在公司的徽标(“以来......”,“建立在......”等)中。本研究是,据我们所知,首先分析品牌古代如何被消费者视为质量的指标 - 只有销售优质产品的品牌在长期竞争中,应该在竞争激烈的市场中存活。并为实验进行了模拟,经验测试这种看法是否导致愿意为品牌广告公司古代的产品支付更高的价格而不是那些。我们的结果表明,品牌古代,实际上对消费者的价格设定有统计上显着影响。

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