Cultural Differences in Perceived Price Fairness: Role of Styles of Thinking
Cultural Differences in Perceived Price Fairness: Role of Styles of Thinking

Author(s): Sayanti Shaw
Subject(s): Sociology of the arts, business, education, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: cultural differences; perceived price fairness; styles of thinking; holistic; analytic;
Summary/Abstract: In contemporary years, researchers are increasingly recognising the role of styles of thinking (holistic vs analytic) as a driver of cross-cultural differences in consumer behaviour. This article addresses a gap in the extant pricing literature by focusing on the cultural differences in perceived price fairness as a function of styles of thinking. Consumers from Eastern cultures with holistic thinking style are predicted to perceive a price increase as fairer than consumers from Western cultures with analytic thinking style. The comprehension of cultural differences in perceived price fairness as a function of styles of thinking is important for managers and marketers in order to expand their knowledge and understanding on ways to maintain positive consumers’ price perceptions, which thereby can augment firms’ competitiveness.

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