Applying the dual-process models to our online store context,
we note that the internal reference price (PRIOR) refers to
the price that participants expect to pay in the store prior to his/
her exposure to the actual price. This expectation may be
formed based on past experiences. As we shall explain in the
next section, the expected price of alternative purchasing
options (POST) is collected after participants have finished
shopping. While forming PRIORs and planning which products
to purchase require effort, it is relatively automatic and
effortless to recall PRIORs when participants are inside the
store. Dual-process models suggest that the readily available
PRIOR is used first to compare with current prices; hence, it
will be a major determinant in consumer purchase decisions.