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Effects of credence labels in supermarkets and discounters on willingness to pay : A comparative analysis

  • The demand for sustainable products has risen noticeably throughout the last years. For this reason, credence labels have gained enhanced importance, as customers use them as indicators for product quality. A rich body of literature investigated the effect of labels on product quality perception, but findings on label effects are still rather controversial. While researching the effects of labels on the one hand, previous studies tend to neglect other important influences on quality perception on the other hand. This paper examines the role of retailer formats and the presence of quality labels on consumer willingness to pay (WTP). For this purpose, a total of 400 participants received a monetary incentive to execute a novel survey based on neuroscientific assumptions, in an attempt to identify the impacts of credence labels in supermarkets and discounters on customer WTP. The results indicate that the magnitude of prices can influence reaction times and hence show that reaction times offer researchers an effective parameter to determine customer WTP. The presence of labels on food products was found to positively influence quality perception in a significant manner. A significant difference between the retailer formats, as well as a potential interaction between the two factors related to WTP, could not be detected. In conclusion, general assumptions about the label performance within distinct retailers should not be made. The results, however, indicate that the subject offers a promising topic to conduct further research in.

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Author:Sami Karakas
Advisor:Kai-Markus Müller
Document Type:Bachelor Thesis
Year of Completion:2021
Granting Institution:Hochschule Furtwangen
Date of final exam:0021/02/24
Release Date:2021/02/25
Tag:Analysis of variance; Credence labels; Reaction times; Retailers; Willingness to pay
Degree Program:IBW - Internationale Betriebswirtschaft
Functional area:Marketing
Open-Access-Status: Closed Access 
Licence (German):License LogoUrheberrechtlich geschützt