Another stream of research has investigated how consumers form a high-level price image of a retailer or a brand. Intuitively, one might think that the price image of a store, for example, would simply be an average of the prices at that store, such that consumers will tend to form a lower price image of stores that have lower prices, on average. Research conducted by Professor Hamilton and his colleagues suggest the process is more complex. Not only are global impressions like price images frequently inaccurate with regard to actual prices, there are even situations in which adding low priced options can backfire and actually raise a store’s price image and vice versa—there are instances in which adding high priced options to a store’s shelves can lower its overall price image.
Professor Hamilton received his PhD in Marketing from Northwestern University’s Kellogg School of Management and a BS in Applied Physics from Brigham Young University. He is the proud father of five young children, which means that he spends much of his time exhausted and slightly rumpled. It also means he has some cover for his unabashed enthusiasm for Legos and Spongebob Squarepants. When he was younger and more willing to stay out late on weeknights, he dabbled in stand-up comedy. He has never run a marathon and has no intention of ever doing so.