Purpose. This thesis -through three related essays- tries to cast light on psychological consequences of money priming and score priming, the relationship between money priming and status /luxury products and finally, how product information can boost status perception.
Design/methodology/approach. Data were collected through field, lab and online experiments. Hypotheses were tested using analysis of variance (ANOVA).
Findings. The results confirm the hypotheses which predict that 1- scores can produce a range of psychological consequences comparable to those of money-priming, 2- money priming worsens (boosts) willingness to pay for non-luxury (luxury) products and 3- appearance-related product information can boost willingness to pay for status products while it has no effect on willingness to pay for non-status products.
Research limitations/implications. These essays extend the current research on psychological consequences of money-priming and provide new insights into the nature of money as the global score of life. They also cast light on the effect of product information on perceived product recognition and subsequent evaluation. While samples are chosen to be representative of the respective target populations, the results may not be generalized to broader populations.
Practical implications. The findings help designers of promotional material to use reminders of currency more consciously to obtain the desired effect on consumer behavior. They also provide guidelines for choosing the “right” type of information to be presented in product catalogs, advertising and websites.
Social implications. The results help understand better how grades, ranks and scores affect people’s attitude towards each other in the society.
Originality/value. Considering the richness of the stream of research about the main effects of money priming on attitude and behavior, our study focuses on an overarching explanation for these effects.
Keywords. Money, Score, Willingness to Pay, Product Information, Luxury Products