Frames of Reference and Buyers’ Perception of Price and Value

by Gerald Smith, Thomas Nagle

Fall 1995

Volume 38
Issue 1

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How buyers' perceptions of value are influenced by the purchase environment has become an increasingly important question for business researchers and practitioners. "Framing"-the use of frames of reference within the purchase environment to influence buyers' perceptions of price and value-has been examined extensively by researchers over the past 15 years. There is a need to integrate these research advances into managerial literature, thought, and practice. This article provides managers with a review of those research findings and some recommendations relating to management practice.

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