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Author: John Timothy Gourville
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
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.
Author: John Timothy Gourville
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
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.
Author: Alexander Chernev
Publisher: Now Pub
ISBN: 9781601985347
Category : Business & Economics
Languages : en
Pages : 74
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Book Description
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.
Author: Serguei Netessine
Publisher: Springer Science & Business Media
ISBN: 0387980261
Category : Business & Economics
Languages : en
Pages : 488
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Book Description
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.
Author: Teck-Hua Ho
Publisher: Springer Science & Business Media
ISBN: 0792382269
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
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.
Author: Denis R. Saure
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
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.
Author: Barry Schwartz
Publisher: Harper Collins
ISBN: 0061748994
Category : Psychology
Languages : en
Pages : 308
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Book Description
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.
Author: Joseph K. Goodman
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 302
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Book Description
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.
Author: Alexander Chernev
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
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.
Author: Gordon Foxall
Publisher: Routledge
ISBN: 1135238081
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
Interpretive consumer research usually proceeds with a minimum of structure and preconceptions. This book presents a more structured approach than is usual, showing how a simple framework that embodies the rewards and costs associated with consumer choice can be used to interpret a wide range of consumer behaviours from everyday purchasing and saving, innovative choice, imitation, ‘green’ consumer behavior, to compulsive behaviors such as addictions (to shopping, to gambling, to alcohol and other drugs, etc). Foxall takes a qualitative approach to interpreting behavior, focusing on the epistemological problems that arise in such research and emphasizing the emotional as well as cognitive aspects of consumption. The author argues that consumer behaviour can be understood with the aid of a very simple model that proposes how the consequences of consumption impact consumers’ subsequent choices. The objective is to show that a basic model can be used to interpret consumer behaviour in general, not in isolation from the marketing influences that shape it, but as a course of human choice that is dynamically linked with managerial concerns.
Author: Iris Van Hees
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
