Disruptive technologies: How to influence price sensitivity triggering consumers' behavioural beliefs

The adoption of new technologies generates an attractive offer of innovative products that flood the markets. Are these products perceived as expensive or cheap? What determines the price range accepted by consumers? This research identifies behavioural variables that can modify the price perception of new technological products, that is, increase or decrease critical price thresholds. As direct value-based pricing method, Van Westendorp's price sensitivity meter is receiving increasing attention to identify critical price thresholds for new technologies. We rely on arguments from the theory of planned behaviour to explore what changes consumers' acceptable price levels. Considering a set of disruptive technologies (augmented reality smart glasses, 3D printers, writing robots, self-driving cars, hoverboard robots), a structural approach is used to explore consumers' perceived threshold prices. The main results sugest that social pressure increases the perceived minimum price and price sensitivity can be decreased evoking perceived ease of use.

Automated summary

This research identifies behavioral variables that can modify the price perception of new technological products, that is, increase or decrease critical price thresholds. Van Westendorp's price sensitivity meter, as a direct value-based pricing method, is receiving increasing attention to identify critical price thresholds for new technologies. We rely on arguments from the theory of planned behavior to explore what changes consumers' acceptable price levels. By considering a set of disruptive technologies (augmented reality smart glasses, 3D printers, writing robots, self-driving cars, hoverboard robots), a structural approach is used to explore consumers' perceived threshold prices. The main results suggest that social pressure increases the perceived minimum price and price sensitivity can be decreased by evoking perceived ease of use.