Today I read an article in the Journal of Marketing (November 2013 issue) titled “Low Prices are Just the Beginning: Price Image in Retail Management” by Ryan Hamilton and Alexander Chernev. The authors hypothesize that price image is more than just a function of actual prices – but rather formed by a myriad of price-related and non-price factors (price policies, price communication, service levels, and assortment characteristics to name a few).
In customer....