The VC/CP scales are foundational measures that distinguished value consciousness from coupon proneness as two theoretically and empirically separable pricing orientations, using Thaler's (1985) acquisition-transaction utility framework to provide a theoretical basis for the distinction. Lichtenstein, Netemeyer, and Burton (1990) proposed that value consciousness reflects concern with the ratio of quality to price received — consumers want to pay a fair price for an appropriate level of quality — whereas coupon proneness reflects a heightened responsiveness to coupons that goes beyond their economic value, driven by the additional transaction utility (the pleasure of getting a deal) and the smart-shopper affect that coupon redemption activates. The theoretical importance of this distinction is that value-conscious consumers respond to coupons primarily on economic grounds (the coupon reduces the effective price toward a fair value), while coupon-prone consumers respond to coupons partly because of the non-economic psychological rewards of coupon use — the feeling of being a savvy shopper, the pleasure of the deal, and the smart-shopper self-image. This means that coupon proneness predicts coupon use even for products where the economic value of the coupon is minimal or where equivalent savings are available without a coupon. The two scales were subsequently incorporated and refined in the broader Lichtenstein, Ridgway & Netemeyer (1993) Price Perception Scales (PPS) battery, which added five additional price orientation dimensions. The 1990 VC and CP scales remain widely used as standalone measures when only these two constructs are needed.
Lichtenstein, D.R., Netemeyer, R.G., & Burton, S. (1990). Distinguishing coupon proneness from value consciousness: An acquisition-transaction utility theory perspective. Journal of Marketing, 54(3), 54–67.
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