Commentary: what's behind the price tag: understanding cost transparency?. Issue 11 (9th November 2015)

• Record Type: Journal Article
• Authors: Singh, Nitish
• Is Part Of: European journal of marketing. Volume 49:Issue 11/12(2015)
• Page Start: 1987
• Page End: 1991
• Publication Date: 2015-11-09
• Subjects: Pricing -- Corporate disclosure -- Conscious consumers -- Consumer empowerment -- Cost transparency; Marketing -- Periodicals; Consumer behavior -- Periodicals; 658.8
• DOI: 10.1108/EJM-07-2015-0454
• Languages: English
• ISSNs: 0309-0566

Abstract

Abstract : Purpose: – The purpose of this study is to understand "Why Should Companies Embrace Cost Transparency". Design/methodology/approach: – This paper is a thought piece in response to the paper by Simintiras et al. (2015), "Should Consumer's Request Cost Transparency?" Findings: – Arguments based on past research and company practices show that companies practicing cost transparency can increase their customer following, brand loyalty, differentiation and ultimately the profits. Practical implications: – The paper showcases examples of how companies have implemented cost transparency to differentiate their customer offerings. The paper also shows that conscious consumers are now demanding more cost transparency, and companies have already started to heed this call. Originality/value: – The paper specifically outlines arguments and recent examples to show why companies should embrace cost transparency.