Abstract
Most marketing practices assume that consumers will buy when price is low. However, this negative relationship may not hold true all the time. Incorporating equity theory and Veblen's theory of the leisure class, the purposes of this study are 1) to confirm whether or not the perceived price-willingness to purchase relationship is negative, 2) to investigate the effects of two moderators (i.e., perceived price fairness and consumer vanity) on the relationship between perceived price and willingness to purchase, and 3) to compare how the moderating effects differ by high and low brand familiarity contexts.
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