When is a 9-ending Price Perceived Lower Than a 0-ending Price? The Moderating Role of Price Consciousness

10.6702/ijbi.2014.9.1.4

Hsiu-Hui Chang；Fang-Ping Chen

9-ending prices ； 0-ending prices ； price perception ； price consciousness

International Journal of Business and Information

9卷1期（2014 / 03 / 01）

89 - 116

英文

Prior research suggests that 9-ending prices may lead one to underestimate the magnitude of such prices for consumers. In particular, 9-ending prices would be perceived substantially lower than 0-ending prices, which are actually just a little higher (e.g., $199 vs. $200). Research indicates, however, that the underestimation effect of 9-ending prices is context-dependent. This study examines the effect of the left-most digit, distances between the target price and the reference price, price length, and, especially, price consciousness on the perceptual underestimation of a 9-ending price through three experiments. Results show that a 9-ending price is perceived lower than a 0-ending price (1) when the left-most digit changes, (2) when the target price is close to the comparison standard price, and (3) when the price is a three-digit or a five-digit number. The perceptual underestimation of the 9-ending price diminishes, however, in high price-conscious consumers.

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