Are fluent anchors more effective? Field experiment on anchoring, anchor fluency, and willingness to pay
| Authors | |
|---|---|
| Year of publication | 2024 |
| Type | Article in Periodical |
| Magazine / Source | SAGE OPEN |
| MU Faculty or unit | |
| Citation | |
| Web | Full-text |
| Doi | http://dx.doi.org/10.1177/21582440241274831 |
| Keywords | anchoring effect; willingness to pay; processing fluency; dual process theory; field experiment |
| Description | Processing fluency of stimuli has been shown to impact consumers’ decision-making. We investigate whether inhibiting the processing fluency of an anchor results in a more pronounced anchoring effect, as is proposed in the existing literature. We use a point-of-purchase field experiment to test the hypothesis that a disfluent anchor in a product name influences consumers’ willingness to pay for this product more than a fluent anchor. The results provide strong support against the fluency—willingness to pay relationship. Contrary to theoretical predictions, our study cautions marketing practitioners against the use of low-fluency anchors in product names. |
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