Memory-based reference price

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Memory-based reference price (MBR) shoppers tend to switch brands more frequently and respond to feature (advertising) more than the stimulusmbased reference price (8BR) shoppers. In other words, MBR shoppers tend to respond to pricefpromotion signals well, which indicates their strong price sensitivity. MBR shoppers are also Likely to be large households. This suggests that large families can be strongly motivated to remember past prices because saving bene?t is bigger for them than for small families.

Reference no: EM133154280

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