CORDIS Project
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This research explores how product pricing influences consumer expectations and perceived efficacy, particularly in relation to the placebo effect. It aims to understand the impact of prior product experiences on consumer beliefs about quality.
In this research project, the critical role of price in shaping expectancies about product efficacy (i.e., placebo effect of marketing actions) is investigated.
While it has been demonstrated that a high versus low price may considerably affect subjective experiences (such as e.g., taste), it has only recently been demonstrated that price can affect actual product efficacy.
As individuals may learn about product quality through prior experience, they may update price-quality beliefs accordingly.…
ERASMUS UNIVERSITEIT ROTTERDAM
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