Price framing helps businesses communicate utility and price to consumers in an attractive manner. The extant research shows that the price framing greatly impacts consumers’ choices of price. Various scholars have analysed it with varying perspectives. This review revisits and analyses each research work on price framing in the marketing domain from the time when the price framing concept was formally introduced in academic literature. The purpose of this review is to set a future research agenda for academicians and practitioners based on the gaps in the literature. This review applies a systematic review approach to achieve the objectives. It uses a funnel approach for arriving at the review time period, inclusion and exclusion criteria, and keywords of the study. This review conducts a co-word analysis using bibliometric software to categorise the major literature on price framing from 1980 to 2015 into major themes and subthemes. Twelve distinct categories of price framing research emerge after the analysis. The findings highlight how price framing was understood as a concept, discipline, and practice in the past and the present business world.
Author(s): Avinash Tripathi; Neeraj Pandey
Organization(s): National Institute of Industrial Engineering (NITIE)
Source: The Marketing Review