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Pay-what-you-want - a new participative pricing mechanism


Kim, Ju-Young; Natter, Martin; Spann, Martin (2009). Pay-what-you-want - a new participative pricing mechanism. Journal of Marketing, 73(1):44-58.

Abstract

Pay what you want (PWYW) is a new participative pricing mechanism in which consumers have maximum control over the price they pay. Previous research has suggested that participative pricing increases consumers' intent to purchase. However, sellers using PWYW face the risk that consumers will exploit their control and pay nothing at all or a price below the seller's costs. In three field studies, the authors find that prices paid are significantly greater than zero. They analyze factors that influence prices paid and show that PWYW can even lead to an increase in seller revenues.

Abstract

Pay what you want (PWYW) is a new participative pricing mechanism in which consumers have maximum control over the price they pay. Previous research has suggested that participative pricing increases consumers' intent to purchase. However, sellers using PWYW face the risk that consumers will exploit their control and pay nothing at all or a price below the seller's costs. In three field studies, the authors find that prices paid are significantly greater than zero. They analyze factors that influence prices paid and show that PWYW can even lead to an increase in seller revenues.

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92 citations in Web of Science®
103 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:2009
Deposited On:09 Dec 2016 10:55
Last Modified:09 Dec 2016 10:55
Publisher:American Marketing Association
ISSN:0022-2429
Publisher DOI:https://doi.org/10.1509/jmkg.73.1.44
Other Identification Number:merlin-id:14196

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