Regret-Free Trials: Asymmetric Effects of Price Promotions on New Product Trial
In contrast to economic models and manager forecasts, we find that price promotions asymmetrically increase the willingness to try new products. In field and online studies, price promotions only increased switching to a new coffee or toothpaste when all products were free due to their asymmetric reductions of anticipated regret.
Chang-Yuan Lee, Carey Morewedge, and Dan Ariely (2017) ,"Regret-Free Trials: Asymmetric Effects of Price Promotions on New Product Trial", in NA - Advances in Consumer Research Volume 45, eds. Ayelet Gneezy, Vladas Griskevicius, and Patti Williams, Duluth, MN : Association for Consumer Research, Pages: 731-731.
Chang-Yuan Lee, Boston University, USA
Carey Morewedge, Boston University, USA
Dan Ariely, Duke University, USA
NA - Advances in Consumer Research Volume 45 | 2017
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