Reconceptualization of price mavenism: do Chinese consumers get a glow when they know?

Abstract

PurposeBuyers in China often communicate positive and negative purchasing experiences through word‐of‐mouth (WOM), which creates special problems and opportunities for marketers. Price mavenism, which is associated with price‐information searching and price‐sharing behavior, is often considered a negative dimension of price. The purpose of this paper, however, is to propose price mavenism as an outcome variable arising from both positive perceptions of price (prestige sensitivity) and negative perceptions (price and value consciousness) and examine that the “know” (price mavenism) will positively impact the “glow” (shopping hedonism) among the Chinese.Design/methodology/approachData were collected through a survey in Shanghai, China. The conceptual model was tested using structural equation modeling.FindingsThis study found that prestige sensitivity, price consciousness and value consciousness shaped price mavenism among the Chinese, supporting the idea that price mavenism arises from both positive and negative perceptions of price. In addition, for the Chinese, being a source of price information and sharing the knowledge with their social groups fulfill a hedonic motivation for shopping. While value consciousness was positively associated with shopping hedonism, price consciousness per se was not.Research limitations/implicationsThis study challenges the idea that price mavenism is mainly explained by a negative perception of price.Practical implicationsBy understanding the drivers of price mavenism and their impacts on shopping hedonism, international marketers can fine‐tune their marketing strategies to appeal more effectively to price mavens in China.Originality/valueThis study highlights the importance of cultural perspectives in understanding the structure of price mavenism and its theoretical and marketing foundations.