Brand experience and consumers' willingness-to-pay (WTP) a price premium: Mediating role of brand credibility and perceived uniqueness. (September 2018)

• Record Type: Journal Article
• Authors: Dwivedi, Abhishek; Nayeem, Tahmid; Murshed, Feisal
• Is Part Of: Journal of retailing and consumer services. Volume 44(2018)
• Page Start: 100
• Page End: 107
• Publication Date: 2018-09
• Subjects: Brand experience -- Brand credibility -- Experiential marketing -- Perceived uniqueness -- Willingness-to-pay price premium; Retail trade -- Periodicals; Service industries -- Periodicals; Customer services -- Periodicals; Commerce de détail -- Périodiques; Service à la clientèle -- Périodiques; Customer services; Retail trade; Periodicals; 658.87
• DOI: 10.1016/j.jretconser.2018.06.009
• Languages: English
• ISSNs: 0969-6989

Abstract

Abstract: How brand experience can be leveraged to enhance profitability is attracting growing interest from both practitioners and academics. This study develops and empirically validates a conceptual model that investigates how brand experience may influence consumers' willingness-to-pay (WTP) a price premium, as mediated by brand credibility and perceived uniqueness. Based on data collected from 405 new automobile buyers, analysis reveals that brand experience affects consumers' WTP a price premium directly as well as indirectly through brand credibility and perceived uniqueness. This research contributes in the domains of experiential marketing, brand management, and pricing strategy and offers actionable insights for managerial practice.