Document Type

Journal Article

Department/Unit

Department of Marketing

Title

Strategy compatibility: The time versus money effect on product evaluation strategies

Language

English

Abstract

We show that time priming leads consumers to adopt an alternative-based evaluation strategy, whereas money priming elicits the use of an attribute-based evaluation strategy. In Experiment 1, we used process tracing in Mouselab to test this proposition, and the results suggested that the effect of time versus money priming on the choice of product-evaluation strategy was mediated by a holistic versus piecemeal information-processing. The results of Experiments 2A and 2B showed that the use of time versus money priming to trigger the choice of an alternative-based versus attribute-based evaluation strategy may result in systematic preference reversals. Specifically, when time (versus money) was primed, the participants were found to be more likely to choose a product dominating on a verbally described (versus numerically described) attribute (Experiment 2A), and one dominating on a non-alignable (versus alignable) attribute (Experiment 2B). © 2014 Society for Consumer Psychology.

Keywords

Consumer behavior, Decision strategy, Decision-making, Time versus money effect

Publication Date

2014

Source Publication Title

Journal of Consumer Psychology

Volume

24

Issue

4

Start Page

549

End Page

556

Publisher

Elsevier

DOI

10.1016/j.jcps.2014.04.006

Link to Publisher's Edition

http://dx.doi.org/10.1016/j.jcps.2014.04.006

ISSN (print)

10577408

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