Download or read book Consumer Choice Behavior Among Wide Assortments written by John Timothy Gourville and published by . This book was released on 1999 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manufacturers often expand product assortments in an attempt to increase brand share within a category. While the positive impact of such a strategy on brand share is not guaranteed, the rational choice principle of "regularity" dictates that a manufacturer should not lose brand share to a competitor by offering an increase in product assortment (Luce 1959). In the present research, we introduce the concept of assortment type and argue that the effect of assortment size on brand share will be moderated by assortment type. In particular, we define an "ordinal" assortment to be a set of brand variants that differ along a single continuous attribute (e.g., microwave ovens that vary on capacity) and provide evidence that increases in ordinal assortment translate to increases in brand share. In contrast, we define a "nominal" assortment to be a set of brand variants that simultaneously vary along non-comparable or discrete attributes (e.g., options on a car) and provide evidence that increases in nominal assortment can and do translate to systematic decreases in brand share.
Download or read book Product Assortment and Consumer Choice written by Alexander Chernev and published by Now Pub. This book was released on 2012 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product Assortment and Consumer Choice: An Interdisciplinary Review examines existing literature and builds on the current theoretical developments across different research domains to develop a set of research propositions delineating the impact of product assortment on consumer choice. Taking a consumer's perspective to examine how product assortment influences decision making and choice, this monograph defines the consumer aspect of assortment research to answer three key questions. First, how do consumers perceive the variety of items in an assortment? The first part of this review examines factors that influence consumer perceptions of the variety of an assortment. In particular, it investigates how factors such as assortment size, the degree of distinctiveness of assortment options, the dispersion of option frequencies, and the organization of the assortment influence consumer perceptions of assortment variety. Second, how do consumers choose an item from a given assortment? The second part discusses factors that influence consumer choice of an item from a given assortment. It examines the impact of assortment size on the purchase likelihood from a given assortment, the number of options purchased, and the particular options chosen from the assortment. Third, how do consumers choose among assortments? The third part examines factors that influence consumer choice among assortments. In particular, it investigates how assortment size, assortment structure, and purchase quantity influence consumers' choice of an assortment. Conceptual analysis of the existing research in each of these three areas is summarized in a series of research propositions that integrate current findings and offer directions for future research. Product Assortment and Consumer Choice: An Interdisciplinary Review concludes with a discussion of the theoretical contributions and managerial implications of existing product assortment research and identify venues for further investigation.
Download or read book Consumer Driven Demand and Operations Management Models written by Serguei Netessine and published by Springer Science & Business Media. This book was released on 2009-06-02 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book is by top scholars in supply chain management, revenue management, and e-commerce, all of which are grounded in information technologies and consumer demand research. The book looks at new selling techniques designed to reach the consumer.
Download or read book The Paradox of Choice written by Barry Schwartz and published by Harper Collins. This book was released on 2009-10-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.
Download or read book Essays in Consumer Choice Driven Assortment Planning written by Denis R. Saure and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In particular, we study competition among retailers when they have access to common products, i.e., products that are available to the competition, and where consumers have full information about the retailers' offerings. Our results shed light on equilibrium properties in such settings and the effect common products have on this behavior.
Download or read book Product Variety Management written by Teck-Hua Ho and published by Springer Science & Business Media. This book was released on 1998-09-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product proliferation has become a common phenomenon. Most companies now offer hundreds, if not thousands, of stock keeping units (SKUs) in order to compete in the market place. Companies with expanding product and service varieties face with problems of obtaining accurate demand forecasts, controlling production and inventory costs, and providing high quality and good delivery performance for the customers. Marketing managers often advocate widening product lines for increasing revenue and market share. However, the breadth of product line can also decrease the efficiency of manufacturing processes and distribution systems. Thus firms must weigh the benefits of product variety against its cost in order to determine the optimal level of product variety to offer to their customers. Academics and practitioners are interested in several fundamental questions about product variety. For instance, why do companies extend their product lines? Do consumers care about product variety? Will a brand with more variety enjoy higher market share? How should product variety be measured? How can a company exploit its product and process design to deliver a higher level of product variety quickly and cheaply? What should the level of product variety be and what should the price of each of the product variants be? What kind of 'challenges would a company face in offering a high level of product variety and how can these obstacles be overcome? The solutions to these questions span multiple functions and disciplines.
Download or read book Consumer and Retailer Strategies when Choosing from Large Assortments written by Joseph K. Goodman and published by . This book was released on 2007 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers are attracted to large assortments, but they experience negative consequences when they ultimately must make a choice form these large assortments. In Essay 1, four experiments examine whether a common retailer strategy--the use of recommendations such as "best seller" signs--attenuates or exacerbates these negative consequences. Results show that best seller signs can exacerbate decision difficulty and regret as consumers engage in a more extensive consideration of options, and these larger consideration sets are partly due to the increase consideration of non-signed options. The extent to which consumers have developed preferences is a key moderator of the effect of best seller signage on choice from large assortments. For consumers possessing more (less) developed preferences, best seller signage in large assortments increases (decreases) the size of consumer consideration sets and exacerbates (attenuates) decision difficulty and regret. The resultant choice outcome is that best seller signage is more likely to increase the overall quantity purchased when consumers have more compared to less developed preferences. Essay 2 investigates consideration set construction strategies consumers use to narrow down assortments into a more manageable consideration set, particularly when faced with large assortments. Past research proposes that consumers use two strategies to narrow down an assortment: include and exclude. Four experiments show that consumers are more likely to use an include strategy when faced with a large compared to a small assortment. It is argued that this preference for an include consideration set strategy is due to the decrease in relative effort required by an include strategy as the number of options in the set increases. The essay shows that compared to using an exclude strategy, the use of an include strategy leads consumers to (1) form smaller consideration sets, (2) express more (less) positive (negative) thoughts, (3) increase (decrease) the weighting of positive (negative) attributes, and (4) elaborate more on options in the consideration set and less on options not in the consideration set. The implications of using an include versus exclude strategy on final choice are explored and directions for future research are discussed.
Download or read book Assortment Size and Option Attractiveness in Consumer Choice among Retailers written by Alexander Chernev and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: An important decision that retailers make involves selecting the number of items comprising their assortments. A key issue in making these decisions concerns the role that assortment size plays in determining consumers' choice of a retailer. We address this issue by investigating how consumer choice among retailers offering various sized assortments is influenced by the attractiveness of the options comprising these assortments. We show that consumer preference for retailers offering larger assortments tends to decrease as the attractiveness of the options in their assortments increases, and can even lead to a reversal of preferences in favor of retailers offering smaller assortments. We further present evidence that the relationship between assortment size and option attractiveness is concave, with the marginal impact of assortment size on choice decreasing as the attractiveness of the options increases. Our theorizing is supported by the data from eight empirical studies, which offer converging evidence in support of the theoretical predictions.
Download or read book Consumer Choice written by Iris Van Hees and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book When More is Less and Less is More written by Alexander Chernev and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contrary to the common wisdom that more choice is always better, selections made from large assortments can lead to weaker preferences. Building on the extant literature, this research identifies ideal point availability as a key factor moderating the impact of assortment on choice. It is proposed that, in the case of large assortments, ideal point availability can simplify choice, leading to a stronger preference for the selected alternative. In contrast, for choices made from smaller assortments, ideal point availability is proposed to have the opposite effect, leading to weaker preferences. Data obtained from four experiments lend support for the theory and the empirical predictions advanced in this article.
Download or read book Decision Focus and Consumer Choice Among Assortments written by Alexander Chernev and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research examines an empirical paradox documented by prior research: When choosing among assortments, consumers opt for the variety offered by larger assortments; however,consumers often are less confident in choices made from larger rather than from smaller assortments. By implying that consumers cannot always accurately predict their need for variety, this preference inconsistency also raises the question of what factors influence consumers' tendency to overestimate their need for the flexibility offered by larger assortments. Building on the view of choice as a hierarchical decision process, this research posits that choice among assortments is a function of consumers' decision focus and, in particular, the degree to which the subsequent task of making a choice from the selected assortment is salient to consumers. The data from four experiments offer converging evidence for the moderating role of decision focus on choice among assortments.
Download or read book Conscious and Unconscious Consumer Choice of Food Products written by Florian Schleicher and published by GRIN Verlag. This book was released on 2013-12-09 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Psychology - Work, Business, Organisation, grade: 2,3, Technical University of Munich, language: English, abstract: When going for grocery shopping, some consumers make up their minds about what to buy and write down shopping lists. Others just go into the supermarket and do not really think beforehand about the things they need. Although in both situations, individuals engage in different ways of decision making on the purchase of groceries, when coming home and putting things into the shelve, they positively or negatively assess the things they bought. Whereas in some situations one gets a positive feeling because e.g. s/he purchased all the products on the shopping list. In another situation, a consumer might end up being bored because s/he just bought the groceries which are perceived as useful, and did not listen to his/her inner voice calling for more than just the fulfillment of utilitarian needs. Generally, consumers can consciously do their purchases and decide for products after thinking on it, or can consider a product’s attributes and let their intuition decide. In the interest of the consumer, the question emerges how the consumer decides at best. Does a consumer receive greater satisfaction from consciously elaborating about the products s/he is facing, or is it better not to think consciously when facing product choices? This question is differently assessed by different models on decision making. Whereas some authors (Ajzen, 2011; Bandura, 1986, 1997; Deci & Ryan, 1985; Payne et al., 1993) emphasize consciousness in decision making, there is also a large number of proponents of unconscious thought (Dijksterhuis, 2004, Dijksterhuis et al., 2005, 2006a, 2006b, 2006c, Levine, 1996, Bargh, 2002, and Wilson et al., 1993). Dijksterhuis and Nordgren (2006b, p.96) argue for the superiority of unconscious decision making by mentioning that “...conscious thought is constrained by the low capacity of consciousness”, which results in sub-optimal choices. With regard to food products, this general superiority of unconscious thought is highly questionable. On the one hand, consumers constrain themselves in taking into account only specific products which respect certain criteria, as e.g. with diabetics and food products with less sugar content. On the other hand, food products are also bought because consumers want to confirm their conscience by purchasing e.g. fair-trade products which among other things are associated with a fair payment of farmers.
Download or read book Variety seeking in Product Choice Behavior written by Johannes Cornelia Maria van Trijp and published by . This book was released on 1995 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: a first-order process).
Download or read book Consumer Driven Health Care written by Regina E. Herzlinger and published by John Wiley & Sons. This book was released on 2004-03-22 with total page 930 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Herzlinger documents how the consumer-driven health caremovement is being implemented and its impact on insurers,providers, new intermediaries, and governments. With additionalcontributions by health care's leading strategists,innovators, regulators and scholars, Consumer-Driven HealthCare presents a compelling vision of a health care system builtto satisfy the people it serves. This comprehensive resource includes the most important thinkingon the topic and compelling case studies of consumer-driven healthcare (CDHC) in action, here and abroad, including newconsumer-driven intermediaries for information and support; typesof insurance plans; focused factories for delivering health care;personalized drugs and devices; and government roles.
Download or read book Individual and Situational Caused Conflict as a Determinant of Consumer Choice Behavior written by Flemming Hansen (Prof.) and published by . This book was released on 1970 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding urban consumers food choice behavior in Ethiopia Promoting demand for healthy foods written by Melesse, Mequanint B. and published by Intl Food Policy Res Inst. This book was released on 2019-04-04 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using survey data collected from 996 representative households in Addis Ababa, Ethiopia, this paper documents several insights to help understand urban consumer food purchasing and consumption choices. The findings can be summarized as follows: 1) We find that households face important dietary gaps; a large proportion eats insufficient amounts of nutrient-dense vegetables, animal-source foods, and fruits. 2) The consumption of ultra-processed foods increases with income and may become a pressing health concern as incomes rise. 3) From a purchasing perspective, we find that consumers buy foods for different purposes at different outlets. Nearby kiosks and informal street markets are frequented for small food items and for fruits and vegetables, while formal open markets and consumer cooperatives are used for bulky food items. 4) Respondents make food and food outlet choices based on their health and food safety concerns, but few consider the nutritional value of food when purchasing it. Concurrently, the availability of a wide variety of healthy and safe foods is highly valued by most respondents for outlet choice. Among consumers in lower income categories, they tend to make food and food outlet choices based on prices and location convenience. 5) Although nutrition is not a primary concern when making choices about food, consumers appear to have reasonable nutritional knowledge. Most respondents considered a healthy diet to be primarily plant-based. Most people are aware that they should eat more fruits and vegetables and less sugary, fatty, and salty foods, but they have limited knowledge on the nutrient content of specific foods and the causes of obesity. 6) Labelling would not be an effective way to increase nutritional knowledge; most respondents have limited understanding of the information that labels provide. Rather, most respondents trust the information provided by health professionals over other sources. In sum, these results are potentially relevant for policy and the design of future programs for improving nutritional outcomes through enhanced diets.
Download or read book Handbook of Consumer Psychology written by Curtis P. Haugtvedt and published by Routledge. This book was released on 2018-12-07 with total page 1296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook contains a unique collection of chapters written by the world's leading researchers in the dynamic field of consumer psychology. Although these researchers are housed in different academic departments (ie. marketing, psychology, advertising, communications) all have the common goal of attaining a better scientific understanding of cognitive, affective, and behavioral responses to products and services, the marketing of these products and services, and societal and ethical concerns associated with marketing processes. Consumer psychology is a discipline at the interface of marketing, advertising and psychology. The research in this area focuses on fundamental psychological processes as well as on issues associated with the use of theoretical principles in applied contexts. The Handbook presents state-of-the-art research as well as providing a place for authors to put forward suggestions for future research and practice. The Handbook is most appropriate for graduate level courses in marketing, psychology, communications, consumer behavior and advertising.
