Consumer Response to Price Changes in Higher-Priced Brands

Marketing Article Review
Student Name
Department, University
Course Code: Course Name
Professor’s Name
Due Date
Marketing Article Review
Huang, A., Dawes, J., Lockshin, L., & Greenacre, L. (2017). Consumer response to price changes in higher-priced brands. Journal of Retailing and Consumer Services, 39, 1-10. https://doi.org/10.1016/j.jretconser.2017.06.009
Article Overview
The thesis statement is well-established in this article’s purpose statement. The study is tailored to establish the impact of price elasticity on consumer purchasing behaviors regarding their perceptions of the brand. Price is a crucial factor concerning the customer’s decision-making process. A brand’s success is anchored on a feasible pricing strategy. The researchers also derived two research questions to address the topic. The first research question sought to establish whether the price elasticity direction differed for high-priced brands compared to the mainstream ones. The second research question aimed to establish whether the price elasticity magnitude differed for high-value products compared to the regular ones. Accordingly, the researchers explained the research design method and justified the decision. The authors employed a choice experiment approach to investigate the research topic. The conceptual framework clearly informed the research questions and included independent (regular and high-priced brands) and dependent (price elasticity) variables. The conclusion is based on the research findings and the discussion sections and reiterates that the research objective was achieved. In this way, the conclusion indicates that the research evaluated what it was initially intended to measure. The recommendations included directions for further research (Huang et al., 2017). The researchers suggested that future inquiry efforts should seek to design purchasing scenarios related to the value of the occasion based on a diverse cue to the interviewee to enable an in-depth examination of the impact of purchase situation on high-priced items choices.
Relationship to Course
The article included information that supports consumer behavior and marketing course, which makes it relevant to the study area. Any student interested in studying consumer behavior and marketing would find this article helpful in establishing the magnitude and direction of high-priced brands’ elasticity and other factors impacting price elasticity at greater price levels. The student can also understand pricing as a complex construct impacting marketing and consumer behavior dynamics. The article also relates to the textbook provided in this course by detailing factors influencing consumer purchasing behaviors a...