Research Article
BibTex RIS Cite

The Effect of Speed of Price Increase on Price Perception, Panic Buying, Stockpiling Intention, and Waiting for a Lower Price of Consumers

Year 2022, Volume: 9 Issue: 1, 74 - 89, 02.07.2022
https://doi.org/10.47097/piar.1083955

Abstract

Although a large body of research is available on price discounts in marketing literature, limited studies have been conducted to explore the effect of price increases. There is a need for studies on the effect of the speed of price increase on consumer behavior. This study aims to examine the effect of the speed of the price increase on price perception, panic buying behavior, stockpiling intentions, and waiting for a lower price. In this direction, two scenarios containing product images with different speed of price increases were prepared and the scenarios were shown to two different groups of participants consisting of 204 consumers, and questionnaires were applied to measure the research variables. The results of the analysis applied to the data obtained in the study indicated that there were statistically significant differences between the groups examined in terms of low-price expectation, stocking intention, and price perception. In the end, the practical implications for both practitioners concerned with pricing and for marketing scholars have been given.

References

  • Ailawadi, K. L., Gedenk, K., Lutzky, C., & Neslin, S. A. (2007). Decomposition of the sales impact of promotion-induced stockpiling. Journal of Marketing Research, 44(3), 450-467.
  • Alfa, A. B., & Gomina, M. O. (2020). Effect of panic buying on individual savings: The COVID-19 lockdown experience. Lapai Journal of Economics, 4, 69-80.
  • Alford, B. L., & Biswas, A. (2002). The effects of discount level, price consciousness and sale proneness on consumers' price perception and behavioral intention. Journal of Business Research, 55(9), 775-783.
  • Allon, G., & Bassamboo, A. (2011). Buying from the babbling retailer? the impact of availability information on customer behavior. Management Science, 57(4), 713-726.
  • Amaral, N. B., Chang, B., & Burns, R. (2021). Understanding consumer stockpiling: Insights provided during the Covid‐19 pandemic. Journal of Consumer Affairs, 1-26.
  • Anderson, C. K., & Wilson, J. G. (2003). Wait or buy? The strategic consumer: Pricing and profit implications. Journal of the Operational Research Society, 54(3), 299-306.
  • Anderson, E. T., & Fox, E. J. (2019). How price promotions work: A review of practice and theory. Handbook of the Economics of Marketing, 1, 497-552.
  • Aviv, Y., & Pazgal, A. (2008). Optimal pricing of seasonal products in the presence of forward-looking consumers. Manufacturing & Service Operations Management, 10(3), 339-359.
  • Azimi, S., Milne, G. R., & Miller, E. G. (2020). Why do consumers procrastinate and what happens next?. Journal of Consumer Marketing, 37(7), 795-805.
  • Bell, D. R., Chiang, J., & Padmanabhan, V. (1999). The decomposition of promotional response: An empirical generalization. Marketing Science, 18(4), 504-526.
  • Bentall, R. P., Lloyd, A., Bennett, K., McKay, R., Mason, L., Murphy, J., ... & Shevlin, M. (2021). Pandemic buying: Testing a psychological model of over-purchasing and panic buying using data from the United Kingdom and the Republic of Ireland during the early phase of the COVID-19 pandemic. Plos One, 16(1), 1-21.
  • Büyüköztürk, Ş. (2007). Sosyal Bilimler İçin Veri Analizi El Kitabı (8. Baskı). Ankara: Pegem A Yayıncılık.
  • Campbell, M. C. (1999). Perceptions of price unfairness: antecedents and consequences. Journal of Marketing Research, 36(2), 187-199.
  • Chen, K., Zha, Y., Alwan, L. C., & Zhang, L. (2020). Dynamic pricing in the presence of reference price effect and consumer strategic behaviour. International Journal of Production Research, 58(2), 546-561.
  • Chen, S. F. S., Monroe, K. B., & Lou, Y. C. (1998). The effects of framing price promotion messages on consumers' perceptions and purchase intentions. Journal of Retailing, 74(3), 353-372.
  • Çokluk, Ö., & Koçak, D. (2016). Using horn's parallel analysis method in exploratory factor analysis for determining the number of factors. Educational Sciences: Theory and Practice, 16(2), 537-551.
  • Dulam, R., Furuta, K., & Kanno, T. (2021). Consumer panic buying: Realizing its consequences and repercussions on the supply chain. Sustainability, 13(8), 4370.
  • Ertan, I. E. (2017). Analyses on Strategic Consumers' Forward Looking Behavior (Doctoral dissertation). The University of Texas at Dallas.
  • Glass, T. A., & Schoch-Spana, M. (2002). Bioterrorism and the people: how to vaccinate a city against panic. Clinical Infectious Diseases, 34(2), 217-223.
  • Hall, C. M., Fieger, P., Prayag, G., & Dyason, D. (2021). Panic buying and consumption displacement during COVID-19: Evidence from New Zealand. Economies, 9(2), 46.
  • Heath, T. B., Chatterjee, S., & France, K. R. (1995). Mental accounting and changes in price: The frame dependence of reference dependence. Journal of Consumer Research, 22(1), 90-97.
  • Homburg, C., Hoyer, W. D., & Koschate, N. (2005). Customers’ reactions to price increases: do customer satisfaction and perceived motive fairness matter?. Journal of the Academy of Marketing Science, 33(1), 36-49.
  • Howitt, D., & Cramer, D. (2011). Introduction to SPSS Statistics in Psychology: For Version 19 and Earlier. London: Pearson.
  • Huber, O. W. (2011). Frequency of price increases and perceived inflation. An experimental investigation. Journal of Economic Psychology, 32(5), 651-661.
  • Jacoby, J., and Olson, J. C. (1977). Consumer Response to Price: An Attitude, Information Processing Perspective, in Moving Ahead with Attitude Research, Yoram Wind and Marshall Greensberg, eds., Chicago: American Marketing Association, 73–86.
  • Janiszewski, C., & Lichtenstein, D. R. (1999). A range theory account of price perception. Journal of Consumer Research, 25(4), 353-368.
  • Kaigo, M. (2012). Social media usage during disasters and social capital: Twitter and the Great East Japan earthquake. Keio Communication Review, 34(1), 19-35.
  • Kaur, A., & Malik, G. (2020). Understanding The Psychology Behind Panic Buying: A Grounded Theory Approach. Global Business Review, 1-14.
  • Keane, M., & Neal, T. (2021). Consumer panic in the COVID-19 pandemic. Journal of Econometrics, 220(1), 86-105.
  • Kline, P. (1994). An Easy Guide to Factor Analysis. New York: Routledge.
  • Kukar-Kinney, M., & Close, A. G. (2010). The determinants of consumers’ online shopping cart abandonment. Journal of the Academy of Marketing Science, 38(2), 240-250.
  • Kum, Y., Wang, X., Ma, F., & Li, X. (2020). The psychological causes of panic buying following a health crisis. International Journal of Environmental Research and Public Health, 17, 3513.
  • Laato, S., Islam, A. N., Farooq, A., & Dhir, A. (2020). Unusual purchasing behavior during the early stages of the COVID-19 pandemic: The stimulus-organism-response approach. Journal of Retailing and Consumer Services, 57, 102224.
  • Laroche, M., Pons, F., Zgolli, N., Cervellon, M. C., & Kim, C. (2003). A model of consumer response to two retail sales promotion techniques. Journal of Business Research, 56(7), 513-522.
  • Li, Q., Chen, T., Yang, J., & Cong, G. (2020). Based on computational communication paradigm: Simulation of public opinion communication process of panic buying during the COVID-19 pandemic. Psychology Research and Behavior Management, 13, 1027-1045.
  • Li, Z., Yada, K., & Zennyo, Y. (2021). Duration of price promotion and product profit: An in-depth study based on point-of-sale data. Journal of Retailing and Consumer Services, 58, 102277.
  • Liu, X., Lin, K., Wang, L., & Ding, L. (2020). Pricing decisions for a sustainable supply chain in the presence of potential strategic customers. Sustainability, 12(4), 1655.
  • Loxton, M., Truskett, R., Scarf, B., Sindone, L., Baldry, G., & Zhao, Y. (2020). Consumer behaviour during crises: preliminary research on how coronavirus has manifested consumer panic buying, herd mentality, changing discretionary spending and the role of the media in influencing behaviour. Journal of Risk and Financial Management, 13(8), 166.
  • Martin, W. C., Ponder, N., & Lueg, J. E. (2009). Price fairness perceptions and customer loyalty in a retail context. Journal of Business Research, 62(6), 588-593.
  • Martins, M., & Monroe, K. B. (1994). Perceived price fairness: A new look at an old construct. in NA - Advances in Consumer Research Volume 21, eds. Chris T. Allen and Deborah Roedder John, Provo, UT: Association for Consumer Research, 75-78.
  • Mersereau, A. J., & Zhang, D. (2012). Markdown pricing with unknown fraction of strategic customers. Manufacturing & Service Operations Management, 14(3), 355-370.
  • Micalizzi, L., Zambrotta, N. S., & Bernstein, M. H. (2021). Stockpiling in the Time of COVID 19. British Journal of Health Psychology, 26(2), 535-543.
  • Monroe, K. B. (1973). Buyers’ subjective perceptions of price. Journal of Marketing Research, 10(1), 70-80.
  • Munnukka, J. (2008). Customers' purchase intentions as a reflection of price perception. Journal of Product & Brand Management. 17(3), 188-196.
  • Narasimhan, C., Neslin, S. A., & Sen, S. K. (1996). Promotional elasticities and category characteristics. Journal of Marketing, 60(2), 17-30.
  • Nelson, R. A., Cohen, R., & Rasmussen, F. R. (2007). An analysis of pricing strategy and price dispersion on the internet. Eastern Economic Journal, 33(1), 95-110.
  • Neslin, S. A., Henderson, C., & Quelch, J. (1985). Consumer promotions and the acceleration of product purchases. Marketing Science, 4(2), 147-165.
  • Netessine, S. (2006). Dynamic Pricing of inventory/capacity with infrequent price changes. European Journal of Operational Research, 174(1), 553-580.
  • Nunnally, J. C. (1978). Psychometric Theory (2nd Ed.). New York: McGraw-Hill.
  • Omar, N. A., Nazri, M. A., Ali, M. H., & Alam, S. S. (2021). The panic buying behavior of consumers during the COVID-19 pandemic: Examining the influences of uncertainty, perceptions of severity, perceptions of scarcity, and anxiety. Journal of Retailing and Consumer Services, 62, 102600.
  • Peine, K., Heitmann, M., & Herrmann, A. (2009). Getting a feel for price affect: a conceptual framework and empirical investigation of consumers' emotional responses to price information. Psychology & Marketing, 26(1), 39-66.
  • Putler, D. S. (1992). Incorporating reference price effects into a theory of consumer choice. Marketing Science, 11(3), 287-309.
  • Razali, N. M., & Wah, Y. B. (2011). Power comparisons of Shapiro-Wilk, Kolmogorov-Smirnov, Lilliefors and Anderson-Darling tests. Journal of Statistical Modeling and Analytics, 2(1), 21-33.
  • Richards, T. J., Gómez, M. I., & Pofahl, G. (2012). A multiple-discrete/continuous model of price promotion. Journal of Retailing, 88(2), 206-225.
  • Rikala, V. M. (2021). The effect of base value neglect on consumer evaluations of cost‐justified price increases. Journal of Consumer Behaviour. https://doi.org/10.1002/cb.2009.
  • Rosa Diaz, I. M. (2013). Price assessments by consumers: influence of purchase context and price structure. International Journal of Consumer Studies, 37(1), 13-20.
  • Rotemberg, J. J. (2010). Altruistic dynamic pricing with customer regret. Scandinavian Journal of Economics, 112(4), 646-672. Roy, S., & Chakraborty, C. (2021). Panic buying situation during COVID-19 global pandemic. Journal of Information Technology Management, 13(2), 231-244.
  • Shapiro, S. S., & Wilk, M. B. (1965). An analysis of variance test for normality (complete samples). Biometrika, 52(3/4), 591-611.
  • Sheng, S., Parker, A. M., & Nakamoto, K. (2007). The effects of price discount and product complementarity on consumer evaluations of bundle components. Journal of Marketing Theory and Practice, 15(1), 53-64.
  • Sheu, J. B., & Kuo, H. T. (2020). Dual speculative hoarding: A wholesaler-retailer channel behavioral phenomenon behind potential natural hazard threats. International Journal of Disaster Risk Reduction, 44, 101430.
  • Shou, B., Xiong, H., & Shen, X. (2013). Consumer panic buying and quota policy under supply disruptions. Manufacturing Service Operations Management, 6, 1-9.
  • Shou, B., Xiong, H., & Shen, Z. M. (2011). Consumer panic buying and fixed quota policy. Management Science, 1-38.
  • Singh, C. K., & Rakshit, P. (2020). A critical analysis to comprehend panic buying behaviour of Mumbaikar’s in COVID-19 era. Studies in Indian Place Names, 40(69), 44-51.
  • Sirvanci, M. B. (1993). An empirical study of price thresholds and price sensitivity. Journal of Applied Business Research (JABR), 9(2), 43-49.
  • Stevens, J. P. (2012). Applied Multivariate Statistics for the Social Sciences. NY: Routledge.
  • Su, X. (2010). ıntertemporal pricing and consumer stockpiling. Operations Research, 58(4/2), 1133-1147.
  • Vanhuele, M., & Drèze, X. (2002). Measuring the price knowledge shoppers bring to the store. Journal of Marketing, 66(4), 72-85.
  • Wei, J., Zhou, L., & Zhou, X. (2011). Analysis of the evolution mechanism of mass panic buying under the public crisis. Case study on salt panic buying in china during the Japan nuclear crisis. Journal of Management Case Studies, 4(6), 478-486.
  • Yangui, W., & Hajtaïeb El Aoud, N. (2015). Consumer behavior and the anticipation of a total stockout for a food product: Proposing and validating a theoretical model. The International Review of Retail, Distribution and Consumer Research, 25(2), 181-203.
  • Yao, J., Oppewal, H., & He, Y. (2013). Consumer responses to simultaneous changes in price and quantity: do direction and magnitude matter?. ACR North American Advances. 41, 532.
  • Yoon, J., Narasimhan, R., & Kim, M. K. (2017). Retailer’s sourcing strategy under consumer stockpiling in anticipation of supply disruptions. International Journal of Production Research, 56(10), 3615–3635.
  • Yuen, K. F., Wang, X., Ma, F., & Li, K. X. (2020). The psychological causes of panic buying following a health crisis. International Journal of Environmental Research and Public Health, 17(10), 3513.

Fiyat Artış Hızının Tüketicilerin Fiyat Algısı, Panik Satın Alma, Stoklama Niyeti ve Düşük Fiyat Bekleme Üzerine Etkisi

Year 2022, Volume: 9 Issue: 1, 74 - 89, 02.07.2022
https://doi.org/10.47097/piar.1083955

Abstract

Pazarlama literatüründe fiyat indirimleri üzerine çok sayıda araştırma olmasına rağmen, fiyat artışlarının etkisini araştırmak için sınırlı sayıda çalışma yapılmıştır. Özellikle fiyat artış hızının tüketici davranışları üzerindeki etkisine yönelik çalışmalara ihtiyaç duyulmaktadır. Bu çalışma, fiyat artış hızının, fiyat algısı, panik satın alma davranışı, stoklama niyeti ve düşük fiyat bekleme üzerindeki etkisini incelemeyi amaçlamaktadır. Bu doğrultuda, farklı fiyat artış hızlarına sahip ürün görsellerini içeren iki senaryo 204 tüketiciden oluşan iki farklı katılımcı grubuna gösterilmiş ve araştırma değişkenlerini ölçmek amacıyla anketler uygulanmıştır. Araştırmada elde edilen verilere uygulanan analiz sonuçları, incelenen gruplar arasında düşük fiyat beklentisi, stoklama niyeti ve fiyat algısı açısından istatistiksel olarak anlamlı farklılıklar olduğunu göstermiştir. Araştırmanın sonucunda hem fiyatlandırma ile ilgilenen uygulayıcılar hem de pazarlama alanında çalışan araştırmacılar için çıkarımlarda bulunulmuştur.

References

  • Ailawadi, K. L., Gedenk, K., Lutzky, C., & Neslin, S. A. (2007). Decomposition of the sales impact of promotion-induced stockpiling. Journal of Marketing Research, 44(3), 450-467.
  • Alfa, A. B., & Gomina, M. O. (2020). Effect of panic buying on individual savings: The COVID-19 lockdown experience. Lapai Journal of Economics, 4, 69-80.
  • Alford, B. L., & Biswas, A. (2002). The effects of discount level, price consciousness and sale proneness on consumers' price perception and behavioral intention. Journal of Business Research, 55(9), 775-783.
  • Allon, G., & Bassamboo, A. (2011). Buying from the babbling retailer? the impact of availability information on customer behavior. Management Science, 57(4), 713-726.
  • Amaral, N. B., Chang, B., & Burns, R. (2021). Understanding consumer stockpiling: Insights provided during the Covid‐19 pandemic. Journal of Consumer Affairs, 1-26.
  • Anderson, C. K., & Wilson, J. G. (2003). Wait or buy? The strategic consumer: Pricing and profit implications. Journal of the Operational Research Society, 54(3), 299-306.
  • Anderson, E. T., & Fox, E. J. (2019). How price promotions work: A review of practice and theory. Handbook of the Economics of Marketing, 1, 497-552.
  • Aviv, Y., & Pazgal, A. (2008). Optimal pricing of seasonal products in the presence of forward-looking consumers. Manufacturing & Service Operations Management, 10(3), 339-359.
  • Azimi, S., Milne, G. R., & Miller, E. G. (2020). Why do consumers procrastinate and what happens next?. Journal of Consumer Marketing, 37(7), 795-805.
  • Bell, D. R., Chiang, J., & Padmanabhan, V. (1999). The decomposition of promotional response: An empirical generalization. Marketing Science, 18(4), 504-526.
  • Bentall, R. P., Lloyd, A., Bennett, K., McKay, R., Mason, L., Murphy, J., ... & Shevlin, M. (2021). Pandemic buying: Testing a psychological model of over-purchasing and panic buying using data from the United Kingdom and the Republic of Ireland during the early phase of the COVID-19 pandemic. Plos One, 16(1), 1-21.
  • Büyüköztürk, Ş. (2007). Sosyal Bilimler İçin Veri Analizi El Kitabı (8. Baskı). Ankara: Pegem A Yayıncılık.
  • Campbell, M. C. (1999). Perceptions of price unfairness: antecedents and consequences. Journal of Marketing Research, 36(2), 187-199.
  • Chen, K., Zha, Y., Alwan, L. C., & Zhang, L. (2020). Dynamic pricing in the presence of reference price effect and consumer strategic behaviour. International Journal of Production Research, 58(2), 546-561.
  • Chen, S. F. S., Monroe, K. B., & Lou, Y. C. (1998). The effects of framing price promotion messages on consumers' perceptions and purchase intentions. Journal of Retailing, 74(3), 353-372.
  • Çokluk, Ö., & Koçak, D. (2016). Using horn's parallel analysis method in exploratory factor analysis for determining the number of factors. Educational Sciences: Theory and Practice, 16(2), 537-551.
  • Dulam, R., Furuta, K., & Kanno, T. (2021). Consumer panic buying: Realizing its consequences and repercussions on the supply chain. Sustainability, 13(8), 4370.
  • Ertan, I. E. (2017). Analyses on Strategic Consumers' Forward Looking Behavior (Doctoral dissertation). The University of Texas at Dallas.
  • Glass, T. A., & Schoch-Spana, M. (2002). Bioterrorism and the people: how to vaccinate a city against panic. Clinical Infectious Diseases, 34(2), 217-223.
  • Hall, C. M., Fieger, P., Prayag, G., & Dyason, D. (2021). Panic buying and consumption displacement during COVID-19: Evidence from New Zealand. Economies, 9(2), 46.
  • Heath, T. B., Chatterjee, S., & France, K. R. (1995). Mental accounting and changes in price: The frame dependence of reference dependence. Journal of Consumer Research, 22(1), 90-97.
  • Homburg, C., Hoyer, W. D., & Koschate, N. (2005). Customers’ reactions to price increases: do customer satisfaction and perceived motive fairness matter?. Journal of the Academy of Marketing Science, 33(1), 36-49.
  • Howitt, D., & Cramer, D. (2011). Introduction to SPSS Statistics in Psychology: For Version 19 and Earlier. London: Pearson.
  • Huber, O. W. (2011). Frequency of price increases and perceived inflation. An experimental investigation. Journal of Economic Psychology, 32(5), 651-661.
  • Jacoby, J., and Olson, J. C. (1977). Consumer Response to Price: An Attitude, Information Processing Perspective, in Moving Ahead with Attitude Research, Yoram Wind and Marshall Greensberg, eds., Chicago: American Marketing Association, 73–86.
  • Janiszewski, C., & Lichtenstein, D. R. (1999). A range theory account of price perception. Journal of Consumer Research, 25(4), 353-368.
  • Kaigo, M. (2012). Social media usage during disasters and social capital: Twitter and the Great East Japan earthquake. Keio Communication Review, 34(1), 19-35.
  • Kaur, A., & Malik, G. (2020). Understanding The Psychology Behind Panic Buying: A Grounded Theory Approach. Global Business Review, 1-14.
  • Keane, M., & Neal, T. (2021). Consumer panic in the COVID-19 pandemic. Journal of Econometrics, 220(1), 86-105.
  • Kline, P. (1994). An Easy Guide to Factor Analysis. New York: Routledge.
  • Kukar-Kinney, M., & Close, A. G. (2010). The determinants of consumers’ online shopping cart abandonment. Journal of the Academy of Marketing Science, 38(2), 240-250.
  • Kum, Y., Wang, X., Ma, F., & Li, X. (2020). The psychological causes of panic buying following a health crisis. International Journal of Environmental Research and Public Health, 17, 3513.
  • Laato, S., Islam, A. N., Farooq, A., & Dhir, A. (2020). Unusual purchasing behavior during the early stages of the COVID-19 pandemic: The stimulus-organism-response approach. Journal of Retailing and Consumer Services, 57, 102224.
  • Laroche, M., Pons, F., Zgolli, N., Cervellon, M. C., & Kim, C. (2003). A model of consumer response to two retail sales promotion techniques. Journal of Business Research, 56(7), 513-522.
  • Li, Q., Chen, T., Yang, J., & Cong, G. (2020). Based on computational communication paradigm: Simulation of public opinion communication process of panic buying during the COVID-19 pandemic. Psychology Research and Behavior Management, 13, 1027-1045.
  • Li, Z., Yada, K., & Zennyo, Y. (2021). Duration of price promotion and product profit: An in-depth study based on point-of-sale data. Journal of Retailing and Consumer Services, 58, 102277.
  • Liu, X., Lin, K., Wang, L., & Ding, L. (2020). Pricing decisions for a sustainable supply chain in the presence of potential strategic customers. Sustainability, 12(4), 1655.
  • Loxton, M., Truskett, R., Scarf, B., Sindone, L., Baldry, G., & Zhao, Y. (2020). Consumer behaviour during crises: preliminary research on how coronavirus has manifested consumer panic buying, herd mentality, changing discretionary spending and the role of the media in influencing behaviour. Journal of Risk and Financial Management, 13(8), 166.
  • Martin, W. C., Ponder, N., & Lueg, J. E. (2009). Price fairness perceptions and customer loyalty in a retail context. Journal of Business Research, 62(6), 588-593.
  • Martins, M., & Monroe, K. B. (1994). Perceived price fairness: A new look at an old construct. in NA - Advances in Consumer Research Volume 21, eds. Chris T. Allen and Deborah Roedder John, Provo, UT: Association for Consumer Research, 75-78.
  • Mersereau, A. J., & Zhang, D. (2012). Markdown pricing with unknown fraction of strategic customers. Manufacturing & Service Operations Management, 14(3), 355-370.
  • Micalizzi, L., Zambrotta, N. S., & Bernstein, M. H. (2021). Stockpiling in the Time of COVID 19. British Journal of Health Psychology, 26(2), 535-543.
  • Monroe, K. B. (1973). Buyers’ subjective perceptions of price. Journal of Marketing Research, 10(1), 70-80.
  • Munnukka, J. (2008). Customers' purchase intentions as a reflection of price perception. Journal of Product & Brand Management. 17(3), 188-196.
  • Narasimhan, C., Neslin, S. A., & Sen, S. K. (1996). Promotional elasticities and category characteristics. Journal of Marketing, 60(2), 17-30.
  • Nelson, R. A., Cohen, R., & Rasmussen, F. R. (2007). An analysis of pricing strategy and price dispersion on the internet. Eastern Economic Journal, 33(1), 95-110.
  • Neslin, S. A., Henderson, C., & Quelch, J. (1985). Consumer promotions and the acceleration of product purchases. Marketing Science, 4(2), 147-165.
  • Netessine, S. (2006). Dynamic Pricing of inventory/capacity with infrequent price changes. European Journal of Operational Research, 174(1), 553-580.
  • Nunnally, J. C. (1978). Psychometric Theory (2nd Ed.). New York: McGraw-Hill.
  • Omar, N. A., Nazri, M. A., Ali, M. H., & Alam, S. S. (2021). The panic buying behavior of consumers during the COVID-19 pandemic: Examining the influences of uncertainty, perceptions of severity, perceptions of scarcity, and anxiety. Journal of Retailing and Consumer Services, 62, 102600.
  • Peine, K., Heitmann, M., & Herrmann, A. (2009). Getting a feel for price affect: a conceptual framework and empirical investigation of consumers' emotional responses to price information. Psychology & Marketing, 26(1), 39-66.
  • Putler, D. S. (1992). Incorporating reference price effects into a theory of consumer choice. Marketing Science, 11(3), 287-309.
  • Razali, N. M., & Wah, Y. B. (2011). Power comparisons of Shapiro-Wilk, Kolmogorov-Smirnov, Lilliefors and Anderson-Darling tests. Journal of Statistical Modeling and Analytics, 2(1), 21-33.
  • Richards, T. J., Gómez, M. I., & Pofahl, G. (2012). A multiple-discrete/continuous model of price promotion. Journal of Retailing, 88(2), 206-225.
  • Rikala, V. M. (2021). The effect of base value neglect on consumer evaluations of cost‐justified price increases. Journal of Consumer Behaviour. https://doi.org/10.1002/cb.2009.
  • Rosa Diaz, I. M. (2013). Price assessments by consumers: influence of purchase context and price structure. International Journal of Consumer Studies, 37(1), 13-20.
  • Rotemberg, J. J. (2010). Altruistic dynamic pricing with customer regret. Scandinavian Journal of Economics, 112(4), 646-672. Roy, S., & Chakraborty, C. (2021). Panic buying situation during COVID-19 global pandemic. Journal of Information Technology Management, 13(2), 231-244.
  • Shapiro, S. S., & Wilk, M. B. (1965). An analysis of variance test for normality (complete samples). Biometrika, 52(3/4), 591-611.
  • Sheng, S., Parker, A. M., & Nakamoto, K. (2007). The effects of price discount and product complementarity on consumer evaluations of bundle components. Journal of Marketing Theory and Practice, 15(1), 53-64.
  • Sheu, J. B., & Kuo, H. T. (2020). Dual speculative hoarding: A wholesaler-retailer channel behavioral phenomenon behind potential natural hazard threats. International Journal of Disaster Risk Reduction, 44, 101430.
  • Shou, B., Xiong, H., & Shen, X. (2013). Consumer panic buying and quota policy under supply disruptions. Manufacturing Service Operations Management, 6, 1-9.
  • Shou, B., Xiong, H., & Shen, Z. M. (2011). Consumer panic buying and fixed quota policy. Management Science, 1-38.
  • Singh, C. K., & Rakshit, P. (2020). A critical analysis to comprehend panic buying behaviour of Mumbaikar’s in COVID-19 era. Studies in Indian Place Names, 40(69), 44-51.
  • Sirvanci, M. B. (1993). An empirical study of price thresholds and price sensitivity. Journal of Applied Business Research (JABR), 9(2), 43-49.
  • Stevens, J. P. (2012). Applied Multivariate Statistics for the Social Sciences. NY: Routledge.
  • Su, X. (2010). ıntertemporal pricing and consumer stockpiling. Operations Research, 58(4/2), 1133-1147.
  • Vanhuele, M., & Drèze, X. (2002). Measuring the price knowledge shoppers bring to the store. Journal of Marketing, 66(4), 72-85.
  • Wei, J., Zhou, L., & Zhou, X. (2011). Analysis of the evolution mechanism of mass panic buying under the public crisis. Case study on salt panic buying in china during the Japan nuclear crisis. Journal of Management Case Studies, 4(6), 478-486.
  • Yangui, W., & Hajtaïeb El Aoud, N. (2015). Consumer behavior and the anticipation of a total stockout for a food product: Proposing and validating a theoretical model. The International Review of Retail, Distribution and Consumer Research, 25(2), 181-203.
  • Yao, J., Oppewal, H., & He, Y. (2013). Consumer responses to simultaneous changes in price and quantity: do direction and magnitude matter?. ACR North American Advances. 41, 532.
  • Yoon, J., Narasimhan, R., & Kim, M. K. (2017). Retailer’s sourcing strategy under consumer stockpiling in anticipation of supply disruptions. International Journal of Production Research, 56(10), 3615–3635.
  • Yuen, K. F., Wang, X., Ma, F., & Li, K. X. (2020). The psychological causes of panic buying following a health crisis. International Journal of Environmental Research and Public Health, 17(10), 3513.
There are 72 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section Research Articles
Authors

Kalender Özcan Atılgan 0000-0003-1482-4505

Onur Koç 0000-0002-0143-6864

Publication Date July 2, 2022
Published in Issue Year 2022 Volume: 9 Issue: 1

Cite

APA Atılgan, K. Ö., & Koç, O. (2022). Fiyat Artış Hızının Tüketicilerin Fiyat Algısı, Panik Satın Alma, Stoklama Niyeti ve Düşük Fiyat Bekleme Üzerine Etkisi. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi, 9(1), 74-89. https://doi.org/10.47097/piar.1083955

PIAR is licensed under a Creative Commons Attribution 4.0 International License.

by-nc-nd.png