This research examines how the implicit egotism resulting from
consumers’ positive self-associations affects their evaluations of
product prices. The effects can occur when the product’s price and the
consumer share either name-letters (name-letter/price effect) or
birthday-numbers (birthday-number/price effect).Through a series of
studies, the authors demonstrate that the positive affect linked to
name-letters and birthday-numbers transfers directly to consumers’ price
predilections and ultimately affects their purchase intentions. More
specifically, consumers like prices (e.g., “fifty-five dollars”) that
contain digits beginning with the same first letter (e.g., “F”) as their
own name (e.g., “Fred,” “Mr. Frank”) more than prices that do not.
Similarly, prices that contain cents digits (e.g., $49.15) that
correspond to a consumer’s date of birth (e.g., April 15) also enhance
pricing liking and purchase intentions. Across groups of consumers, the
authors’ findings demonstrate that implicit egotism effects can result
in greater purchase intentions for a higher-priced product compared with
a lower-priced product. [ABSTRACT FROM AUTHOR]