759
Views
5
CrossRef citations to date
0
Altmetric
Renaissance of Marketing and Management in Fashion

The paradox of odd-even price in fashion luxury sector: Empirical evidence from an international direct observation of luxury stores

时尚奢侈品行业奇偶尾数定价悖论——来自直击国际奢侈品商店的实证证据

ORCID Icon, ORCID Icon, ORCID Icon, & ORCID Icon
Pages 205-222 | Received 02 May 2017, Accepted 09 Apr 2018, Published online: 25 May 2018

References

  • Anderson, E., & Simester, D. (2003). Mind your pricing cues. Harvard Business Review, 81(9), 96–103.
  • Arrigo, E. (2015). The role of the flagship store location in luxury branding. An international exploratory study. International Journal of Retail and Distribution Management, 43(6), 518–537.
  • Atwal, G., & Williams, A. (2009). Luxury brand marketing–The experience is everything! Journal of Brand Management, 16(5–6), 338–346.
  • Bain and Company. (2016). Luxury market monitor. Altagamma: Fondazione.
  • Bizer, G. Y., & Schindler, R. M. (2005). Direct evidence of ending‐digit drop‐off in price information processing. Psychology and Marketing, 22(10), 771–783.
  • Bourdieu, P. (1984). Distinction: A social critique of the judgement of taste. London: Harvard University Press.
  • Brock, T. C. (1968). Implications of commodity theory for value change. In A. G. Greenwald, T. C. Brock, & T. M. Ostrom (Eds), Psychological foundations of attitudes (pp. 243–275). New York, NY: Academic Press.
  • Catry, B. (2003). The great pretenders: The magic of luxury goods. Business Strategy Review, 14(3), 10–17.
  • Cervellon, M. C., De Barnier, V., & Laurent, G. (2014). Playing hard to get, signaling status and enhancing the social influence of luxury brands. 2014 Monaco Symposium on Luxury, Monaco.
  • Choi, J., Li, Y. J., Rangan, P., Chatterjee, P., & Singh, S. N. (2014). The odd-ending price justification effect: The influence of price-endings on hedonic and utilitarian consumption. Journal of the Academy of Marketing Science, 42(5), 545–557.
  • Craig, C. S., & Douglas, S. P. (2005). International marketing research (3rd ed.). Chichester: John Wiley and Sons Ltd.
  • Cuellar, S. S., & Brunamonti, M. (2014). Retail channel price discrimination. Journal of Retailing and Consumer Services, 21, 339–346.
  • Da Giau, A., Lion, A., Macchion, L., Caridi, M., Bandinelli, R., Caniato, F., ... Vinelli, A. (2016). The challenge of sustainability within the Italian fashion system. In Handbook of research on global fashion management and merchandising (pp. 532–559). Hershey, PA: IGI Global.
  • Davies, B. J., & Ward, P. (2005). Exploring the connections between visual merchandising and retail branding: An application of facet theory. International Journal of Retail and Distribution Management, 33(7), 505–513.
  • Deloitte. (2017), Global powers of luxury goods. Available from: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/consumer-industrial-products/gx-cip-global-powers-luxury-2017.pdf
  • Dion, D., & Arnould, E. (2011). Retail luxury strategy: Assembling charisma through art and magic. Journal of Retailing, 87(4), 502–520.
  • Fraccaro, A., & Macé, S. (2014). Odd pricing and even pricing practices in luxury goods. 2014 Monaco Symposium on Luxury, Monaco
  • Godey, B., Pederzoli, D., Aiello, G., Donvito, R., Chan, P., Tsuchiya, J., … Singh, R. (2013a). Modeling links between the decision-making process and luxury brand attachment: An international comparison. Journal of Global Scholars of Marketing Science, 23(4), 361–378.
  • Godey, B., Pederzoli, D., Aiello, G., Donvito, R., Wiedmann, K. P., & Hennigs, N. (2013b). A cross-cultural exploratory content analysis of the perception of luxury from six countries. Journal of Product and Brand Management, 22(3), 229–237.
  • Godey, B., Pederzoli, D., Aiello, G., Donvito, R., Wiedmann, K.-P., & Hennigs, N. (2014, April). Cross-cultural analysis of the perception of luxury, Monaco Luxury Symposium 2014 proceedings of the international conference in Monaco, Principato di Monaco.
  • Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (1998). Multivariate data analysis. . In J.F. Hair, R.L. Tatham, R.E Anderson & W. C. Black (Eds.), Multivariate data analysis (5th ed.). Upper Saddle River, NJ: Pearson.
  • Harris, C., & Bray, J. (2007). Price endings and consumer segmentation. Journal of Product and Brand Management, 16(3), 200–205.
  • Heine, K. (2009). Using personal and online repertory grid methods for the development of a luxury brand personality. Electronic Journal of Business Research Methods, 7(1), 25–38.
  • Heine, K. (2010). The personality of luxury fashion brands. Journal of Global Fashion Marketing., 1(3), 154–163.
  • Heine, K. (2012). The concept of luxury brands. Luxury Brand Management, 1, 2193–1208.
  • Heine, K., & Berghaus, B. (2014). Luxury goes di digital: How to tackle the digital luxury brand–consumer touchpoints. Journal of Global Fashion Marketing, 5(3), 223–234.
  • Hung, K., Chen, A. H., Peng, N., Hackley, C., Tiwsakul, R. A., & Chou, C. (2011). Antecedents of luxury brand purchase intention. Journal of Product and Brand Management, 6, 457–467.
  • Hwang, Y., Ko, E., & Megehee, C. M. (2014). When higher prices increase sales: How chronic and manipulated desires for conspicuousness and rarity moderate price’s impact on choice of luxury brands. Journal of Business Research, 67, 1912–1920.
  • Jain, V., Takajanagi, M., & Malthouse, E. C. (2014). Effects of show windows on female consumers’ shopping behaviour. Journal of Consumer Marketing, 31(5), 380–390.
  • Janssens, W., De Pelsmacker, P., & Van Kenhove, P. (2008). Marketing research with SPSS. Harlow: Pearson Education.
  • Kapferer, J. N., & Bastien, V. (2009). The specificity of luxury management: Turning marketing upside down. Journal of Brand Management, 16(5/6), 311–322.
  • Kapferer, J. N., & Bastien, V. (2012). The luxury strategy: Break the rules of marketing to build luxury brands. London: Hogan Page.
  • Kapferer, J. N., Klippert, C., & Leproux, L. (2014). Does luxury have a minimum price? An exploratory study into consumers’ psychology of luxury prices. Journal of Revenue and Pricing Management, 13(1), 2–11.
  • Kapferer, J. N., & Laurent, G. (2016). Where do consumers think luxury begins? A study of perceived minimum price for 21 luxury goods in 7 countries. Journal of Business Research, 69(1), 332–340.
  • Kastanakis, M. N., & Balabanis, G. (2012). Between the mass and the class: Antecedents of the “Bandwagon” luxury consumption behavior. Journal of Business Research, 65(10), 1399–1407.
  • Kerin, R. A., Hartley, S. W., Rudelius, W., & Pellegrini, L. (2015). Marketing (12th ed.). Boston, MA: McGraw-Hill Education.
  • Kim, J. S. (2013). A study on the effect that V.M.D. (Visual Merchandising Design) in store has on purchasing products. International Journal of Smart Home, 7(4), 217–223.
  • Kim, K., Ko, E., Lee, M. A., Mattila, P., & Hoon Kim, K. (2014). Fashion collaboration effects on consumer response and customer equity in global luxury and SPA brand marketing. Journal of Global Scholars of Marketing Science, 24(3), 350–364.
  • Kim, K. H., Ko, E., Xu, B., & Han, Y. (2012). Increasing customer equity of luxury fashion brands through nurturing consumer attitude. Journal of Business Research, 65(10), 1495–1499.
  • Ko, E., Chun, E., Song, S., & Kim, K. H. (2013). Which content types increase participation in fashion social platforms? Journal of Global Scholars of Marketing Science, 23(3), 297–313.
  • Ko, E., Phau, I., & Aiello, G. (2016). Luxury brand strategies and customer experiences: Contributions to theory and practice. Journal of Business Research, 69(12), 5749–5752.
  • König, J. C., Wiedmann, K. P., Hennigs, N., & Haase, J. (2016). The legends of tomorrow: A semiotic approach towards a brand myth of luxury heritage. Journal of Global Scholars of Marketing Science, 26(2), 198–215.
  • Kumar, S., & Pandey, M. (2017). The impact of psychological pricing strategy on consumers’ buying behaviour: A qualitative study. International Journal of Business and Systems Research, 11(1–2), 101–117.
  • Law, D., Wong, C., & Yip, J. (2009). How does visual merchandising affect consumer affective response? An intimate apparel experience. European Journal of Marketing, 46(1–2), 112–133.
  • Lion, A., Macchion, L., Danese, P., & Vinelli, A. (2016). Sustainability approaches within the fashion industry: The supplier perspective. Supply Chain Forum: An International Journal, 17(2), 95–108.
  • Liu, F., Li, J., Mizerski, D., & Soh, H. (2012). Self-congruity, brand attitude, and brand loyalty: A study on luxury brands. European Journal of Marketing, 46(7/8), 922–937.
  • Macchion, L., Fornasiero, R., & Venelli, A. (2017a). Supply chain configurations: A model to evaluate performance in customized productions. International Journal of Production Research, 55(6), 1386–1399.
  • Macchion, L., Moretto, A., Caniato, F., Caridi, M., Danese, P., Spina, G., & Vinelli, A. (2017b). Improving innovation performance through environmental practices in the fashion industry: The moderating effect of internationalization and the influence of collaboration. Production Planning and Control, 28(3), 190–201.
  • Malhotra, N. K. (2007). Marketing research an applied orientation. Upper Saddle River, NJ: Pearson Education India.
  • Malhotra, N. K., Agarwal, J., & Peterson, M. (1996). Methodological issues in cross-cultural marketing research: A state-of-the-art review. International Marketing Review, 13(5), 7–43.
  • McCarthy, E. J., & Perreault, W. D., Jr. (1987). Basic marketing. Homewood, IL: Irwin.
  • Nueno, J. L., & Quelch, J. A. (1998). The mass marketing of luxury. Business Horizons, 41(6), 61–68.
  • Parguel, B., Delécolle, T., & Valette-Florence, P. (2016). How price display influences consumer luxury perceptions. Journal of Business Research, 69(1), 341–348.
  • Park, M. S., Shin, J. K., & Ju, Y. (2014). Social networking atmosphere and online retailing. Journal of Global Scholars of Marketing Science, 24(1), 89–107.
  • Puccinelli, N. M., Chandrashekaran, R., Grewal, D., & Suri, R. (2013). Are man seduced by red? The effect of red versus black prices on price perceptions. Journal of Retailing, 89(2), 115–125.
  • Schindler, R. M., & Kirby, P. N. (1997). Patterns of rightmost digits used in advertised prices: Implications for nine-ending effects. Journal of Consumer Research, 24(2), 192–201.
  • Sen, S., Block, L. G., & Chandran, S. (2002). Window displays and consumer shopping decisions. Journal of Retailing and Consumer Services, 9, 277–290.
  • Sotgiu, F., & Ancarani, F. (2004). Exploiting the opportunities of internet and multi-channel pricing: An exploratory research. Journal of Product and Brand Management, 13(2), 125–136.
  • Stiving, M. (2000). Price-ending: When prices signal quality. Management Science, 1617–1629.
  • Suri, R., Kohli, C., & Monroe, K. B. (2007). The effects of perceived scarcity on consumers’ processing of price information. Journal of the Academy of Marketing Science, 35, 89–100.
  • Truong, Y., McColl, R., & Kitchen, P. J. (2009). New luxury brand positioning and the emergence of masstige brands. Journal of Brand Management, 5, 375–382.
  • Veblen, T. (2009). The theory of the leisure class. Oxford: Oxford University Press.
  • Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2015). From multi-channel retailing to omni-channel retailing: introduction to the special issue on multi-channel retailing. Journal of Retailing, 91(2), 174–181.
  • Vogel, J., & Paul, M. (2015). One firm, one product, two prices: Channel-based price differentiation and customer retention. Journal of Retailing and Consumer Services, 27, 126–139.
  • Wiedmann, K. P., Hennigs, N., & Siebels, A. (2007). Measuring consumers’ luxury value perception: A cross-cultural framework. Academy of Marketing Science Review, 2007(7), 1–21.
  • Wiedmann, K. P., Hennigs, N., & Siebels, A. (2009). Value-based segmentation of luxury consumption behavior. Psychology and Marketing, 26(7), 625–651.
  • Winer, R. S. (2017). Online pricing strategies: Implications for luxury consumers. Luxury: History, Culture, Consumption, 4(1), 7–29.
  • Zheng, J. H., Chiu, C. H., & Choi, T. M. (2012). Optimal advertising and pricing strategies for luxury fashion brands with social influences. IEEE Transactions on Systems, Man and Cybernetics – Part A: Systems and Humans, 42(4), 827–837.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.