A new Journal of Marketing study provides an improved methodology for determining willingness to pay by taking context and comparisons into account.

Read an in-depth recap of this research here: https://www.ama.org/2023/10/03/how-marketers-measure-willingness-to-pay-is-flawed-now-theres-a-better-way/⁠

Read the full Journal of Marketing article here: https://doi.org/10.1177/00222429231195564

Reference: Sharlene He, Eric T. Anderson, and Derek D. Rucker, “Measuring Willingness to Pay: A Comparative Method of Valuation,” Journal of Marketing.

Narrator: Nicole Tai Liu

Acknowledgments: Sushma Kambagowni

Topics: willingness to pay, research methodology, marketing research

The JM Buzz Podcast is a production of the American Marketing Association's Journal of Marketing and is produced by ⁠⁠⁠University FM