Becoming More Ethical: The Need for a New Price Perspective
The market share of ethical products is low suggesting that people are not actually buying these products even though they have a positive attitude towards these products. There can be a lot of reasons for this problem but the higher price of ethical products with respect to their conventional alternatives has always been a big barrier in the purchase of these products. The objective of the current research is to investigate whether framing the price of the ethical product by decreasing its quantity can influence people’s preference for these products through increasing its perceived value. Moreover, the moderating effect of quantity unit on the relationship between price framing and preference is examined. The results indicated no significant main effect of price framing on the preference for the ethical product. There was also no interaction between price framing and quantity unit. However, the main effect of perceived value on preference for the ethical product was confirmed.