The influence of price colour on price perception: a master thesis on behavioural pricing

Abstract

It is well known in marketing that colour imposes an important influence on human behaviour. However, only little research has been dedicated to the influence of price colour on price judgement for non-discounted prices. Within the framework of this master thesis, two experiments are conducted and analysed, one with a focus on offline distribution (retail store setting) and one paying special attention to online channels. The influence of red or blue coloured prices is evaluated with regards to perceived price, perceived value, and purchase intention. Price and value are shown to be perceived significantly better if coloured prices are used. This fact holds true for the offline and, frequently, the online setting as well as for red and for blue price colour. The effects are more common for low involvement products compared to high involvement offerings. Furthermore, the results indicate that priming the respective colour enhances the influence of coloured prices. Limitations as well as theoretical and practical implications are discussed and further research directions are suggested.