An Application of Prospect theory to Educational Marketing

• Main Authors: Yun-ling Huang, 黃韻陵
• Other Authors: Wen-bin Chiou
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/svhy7t

碩士 === 國立中山大學 === 教育研究所 === 97 === The present study aimed to apply the framing effects in prospect theory to examine college students’ risk tendencies under the context of educational marketing. Prospect theory proposes that framing effects result in a preference for risk-averse choices in gain situations and risk-seeking choices in loss situations. Frame in this research was treated as a between-subjects factor. Participants were randomly assigned to either the gain or loss condition with the counter-balanced method. The decision tasks consisted of four domains of marketing mix, i.e., product, price, place, and promotion. The results showed that participants’ risk tendencies were in accordance with the predictions from the perspective of framing effects. Reference points were employed by participants to determine gain or loss framing. Specifically, risk-averse tendencies were more prominent in gain situations than those in loss situations, whereas risk-seeking tendencies were more pronounced in loss situations than those in gain situations. Hence, in order to produce desirable outcomes of marketing mix in educational marketing, marketers in higher education should take the influences of reference point and framing effects on decision-making into consideration.