Effect of time pressure and presence of awards on consumer purchase behavior.

Abstract

Extrinsic cues are often used by consumers to simplify their decision making processes. Despite having many existing studies done on extrinsic cues and its effects, award, as an extrinsic cue is seldom researched upon. Thus, this paper seeks to investigate the effect of the presence of an award sign, as an extrinsic cue, on consumers’ purchase decisions. Time pressure is also factored in to investigate consumers’ reaction to an extrinsic cue like awards in such a situation. Hence, this research studies the effects of the presence of an award sign on consumers’ purchase making decision in the presence of a time pressure situation. An experiment is conducted to investigate these concerns. The presence of award sign in the product review and the presence of time restriction was manipulated to give a 2 (presence and absence of award sign) x 2 (presence and absence of time restriction) between-subjects design for this experiment. Purchase intention, attitude, reliance and helpfulness of factors were then measured.