Pub Date : 2022-11-17DOI: 10.1177/00222429221142281
Felipe M. Affonso, Chris Janiszewski
Visual marketing communications consist of two components: (1) semantic content (e.g., headings, images, copy) that communicates a brand's positioning, benefits, and personality and (2) visual design (e.g., font selection, image size, the organization of the content) that encourages inferences about brand claims. The authors investigate how visual design can be used to encourage inferences that support brand claims and improve brand performance. They find that brands with a utilitarian positioning perform better when the visual design of their marketing communications encourages structured perceptions, whereas brands with a hedonic positioning perform better when the visual design of their marketing communications encourages unstructured perceptions. In both cases, (un)structured perceptions encourage inferences that reinforce brand claims and, consequently, improve brand performance. This research offers actionable insights into how marketing communication specialists can coordinate logo design, product design, package design, visual merchandising, and retail environments to reinforce brand claims.
{"title":"Marketing by Design: The Influence of Perceptual Structure on Brand Performance","authors":"Felipe M. Affonso, Chris Janiszewski","doi":"10.1177/00222429221142281","DOIUrl":"https://doi.org/10.1177/00222429221142281","url":null,"abstract":"Visual marketing communications consist of two components: (1) semantic content (e.g., headings, images, copy) that communicates a brand's positioning, benefits, and personality and (2) visual design (e.g., font selection, image size, the organization of the content) that encourages inferences about brand claims. The authors investigate how visual design can be used to encourage inferences that support brand claims and improve brand performance. They find that brands with a utilitarian positioning perform better when the visual design of their marketing communications encourages structured perceptions, whereas brands with a hedonic positioning perform better when the visual design of their marketing communications encourages unstructured perceptions. In both cases, (un)structured perceptions encourage inferences that reinforce brand claims and, consequently, improve brand performance. This research offers actionable insights into how marketing communication specialists can coordinate logo design, product design, package design, visual merchandising, and retail environments to reinforce brand claims.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86410059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-15DOI: 10.1177/00222429221142234
R. Kc, Vincent Mak, E. Ofek
This research studies how payment decision timing—before versus after product delivery—influences consumer payment under pay-what-you-want (PWYW) pricing. The authors focus on situations where there is minimal change in consumer uncertainty regarding the product before versus after receiving it. The theoretical development suggests that people pay more after (vs. before) receiving the product when product value is high, but the effect is mitigated when product value is low and reversed when product value is sufficiently low. Results from a laboratory experiment and a field experiment lend support to the theoretical predictions, with preliminary evidence for the moderating effect of product value. An online experiment demonstrates the predicted payment decision timing effect at high product value and a reversal of the effect at low product value. Another online experiment extends the scope of the previous studies by examining PWYW transactions in a charitable donation context (which the authors label “contribute what you want”): the authors obtain evidence for the predicted payment decision timing effect for high product value and a mitigation of the effect for low product value, as well as process evidence for the theoretical mechanism. This work has implications for the management of PWYW schemes for firms, including nonprofits, social enterprises, and charities.
{"title":"Before or After? The Effects of Payment Decision Timing in Pay-What-You-Want Contexts","authors":"R. Kc, Vincent Mak, E. Ofek","doi":"10.1177/00222429221142234","DOIUrl":"https://doi.org/10.1177/00222429221142234","url":null,"abstract":"This research studies how payment decision timing—before versus after product delivery—influences consumer payment under pay-what-you-want (PWYW) pricing. The authors focus on situations where there is minimal change in consumer uncertainty regarding the product before versus after receiving it. The theoretical development suggests that people pay more after (vs. before) receiving the product when product value is high, but the effect is mitigated when product value is low and reversed when product value is sufficiently low. Results from a laboratory experiment and a field experiment lend support to the theoretical predictions, with preliminary evidence for the moderating effect of product value. An online experiment demonstrates the predicted payment decision timing effect at high product value and a reversal of the effect at low product value. Another online experiment extends the scope of the previous studies by examining PWYW transactions in a charitable donation context (which the authors label “contribute what you want”): the authors obtain evidence for the predicted payment decision timing effect for high product value and a mitigation of the effect for low product value, as well as process evidence for the theoretical mechanism. This work has implications for the management of PWYW schemes for firms, including nonprofits, social enterprises, and charities.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90606594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-10DOI: 10.1177/00222429221141066
C. Reeck, Nathaniel Posner, Kellen Mrkva, Eric J. Johnson
How can firms encourage consumers to adopt smartphone apps? The authors show that several inexpensive choice architecture techniques can make users more likely to enable important app features and complete app onboarding. In six preregistered experiments (n = 5,968) and a field experiment (n = 594,997), choice architecture interventions manipulating choice sequence, color, and wording of app adoption decisions dramatically increased app adoption. Across experiments, integrating multiple feature decisions into a single choice increased adoption. This integration effect emerges because it decreases decision noise and reduces the prominence of individual features, consistent with support theory. Changing colors to match habitual patterns commonly found in current digital interfaces appears to increase adoption by accelerating consumers’ decisions. Finally, wording options as if enabling the app is the default response (even without changing the actual default) also increases adoption. These “defaultless defaults” may be particularly relevant in heavily regulated consumer domains, such as finance or health care. The effects generalized across different types of apps and were robust across subsamples varying in demographics, attitudes toward the apps, and political affiliation. These results suggest simple tools that marketing managers and app developers can use to increase app adoption.
{"title":"Nudging App Adoption: Choice Architecture Facilitates Consumer Uptake of Mobile Apps","authors":"C. Reeck, Nathaniel Posner, Kellen Mrkva, Eric J. Johnson","doi":"10.1177/00222429221141066","DOIUrl":"https://doi.org/10.1177/00222429221141066","url":null,"abstract":"How can firms encourage consumers to adopt smartphone apps? The authors show that several inexpensive choice architecture techniques can make users more likely to enable important app features and complete app onboarding. In six preregistered experiments (n = 5,968) and a field experiment (n = 594,997), choice architecture interventions manipulating choice sequence, color, and wording of app adoption decisions dramatically increased app adoption. Across experiments, integrating multiple feature decisions into a single choice increased adoption. This integration effect emerges because it decreases decision noise and reduces the prominence of individual features, consistent with support theory. Changing colors to match habitual patterns commonly found in current digital interfaces appears to increase adoption by accelerating consumers’ decisions. Finally, wording options as if enabling the app is the default response (even without changing the actual default) also increases adoption. These “defaultless defaults” may be particularly relevant in heavily regulated consumer domains, such as finance or health care. The effects generalized across different types of apps and were robust across subsamples varying in demographics, attitudes toward the apps, and political affiliation. These results suggest simple tools that marketing managers and app developers can use to increase app adoption.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77802069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-28DOI: 10.1177/00222429221138302
Molly R. Burchett, Brian R. Murtha, Ajay K. Kohli
A study involving unobtrusive observations of salespeople's behaviors in sales settings surfaces a novel insight: a salesperson's selling effectiveness with a customer may be enhanced by the way the salesperson interacts with secondary entities, such as objects and people outside the core salesperson–customer dyad. Based on this insight and social interest theory, this research introduces the construct of secondary selling. It refers to a salesperson interacting with secondary entities in a manner that indicates to a focal customer that the salesperson values these entities. The pattern of results from four follow-on studies using multiple methods and data sources indicates that, in general, secondary selling reduces a focal customer's reactance to a salesperson's recommendations, which leads to higher sales revenue and customer satisfaction. Customers with high persuasion knowledge (compared with customers with lower persuasion knowledge) are more favorably influenced by secondary selling involving company property but less favorably influenced by secondary selling involving nonfocal customers. In addition to reducing a focal customer's reactance to sales recommendations, secondary selling also helps primary selling (targeted at a focal customer) reduce the customer's reactance to a greater extent. Overall, the results provide evidence of the pervasive and influential role of secondary selling in boosting sales revenue and customer satisfaction in sales exchanges.
{"title":"Secondary Selling: Beyond the Salesperson–Customer Dyad","authors":"Molly R. Burchett, Brian R. Murtha, Ajay K. Kohli","doi":"10.1177/00222429221138302","DOIUrl":"https://doi.org/10.1177/00222429221138302","url":null,"abstract":"A study involving unobtrusive observations of salespeople's behaviors in sales settings surfaces a novel insight: a salesperson's selling effectiveness with a customer may be enhanced by the way the salesperson interacts with secondary entities, such as objects and people outside the core salesperson–customer dyad. Based on this insight and social interest theory, this research introduces the construct of secondary selling. It refers to a salesperson interacting with secondary entities in a manner that indicates to a focal customer that the salesperson values these entities. The pattern of results from four follow-on studies using multiple methods and data sources indicates that, in general, secondary selling reduces a focal customer's reactance to a salesperson's recommendations, which leads to higher sales revenue and customer satisfaction. Customers with high persuasion knowledge (compared with customers with lower persuasion knowledge) are more favorably influenced by secondary selling involving company property but less favorably influenced by secondary selling involving nonfocal customers. In addition to reducing a focal customer's reactance to sales recommendations, secondary selling also helps primary selling (targeted at a focal customer) reduce the customer's reactance to a greater extent. Overall, the results provide evidence of the pervasive and influential role of secondary selling in boosting sales revenue and customer satisfaction in sales exchanges.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73200028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-28DOI: 10.1177/00222429221138286
J. Melzner, Andrea Bonezzi, T. Meyvis
Whenever consumers interact with technological devices connected to the internet, they disclose information about themselves. The rapid diffusion of voice technology is shifting the way consumers interact with technological devices from typing or clicking to speaking. This article offers a comprehensive analysis of how this shift from manual to oral communication with technology affects information disclosure. The authors first consider verbal disclosure and provide a conceptual framework that explicates how voice technology can influence consumers’ propensity to reveal information about themselves through semantic content disclosed voluntarily. They then consider nonverbal disclosure and provide an analysis of how voice technology enables the collection of information revealed unintentionally through vocal paralanguage and ambient sound. The article offers testable propositions and poses open research questions that can serve as impetus for future research. In addition, it provides insights to marketers regarding how to navigate voice technology as a source of consumer information and to policy makers regarding how to better protect consumer privacy in interactions with voice technology.
{"title":"Information Disclosure in the Era of Voice Technology","authors":"J. Melzner, Andrea Bonezzi, T. Meyvis","doi":"10.1177/00222429221138286","DOIUrl":"https://doi.org/10.1177/00222429221138286","url":null,"abstract":"Whenever consumers interact with technological devices connected to the internet, they disclose information about themselves. The rapid diffusion of voice technology is shifting the way consumers interact with technological devices from typing or clicking to speaking. This article offers a comprehensive analysis of how this shift from manual to oral communication with technology affects information disclosure. The authors first consider verbal disclosure and provide a conceptual framework that explicates how voice technology can influence consumers’ propensity to reveal information about themselves through semantic content disclosed voluntarily. They then consider nonverbal disclosure and provide an analysis of how voice technology enables the collection of information revealed unintentionally through vocal paralanguage and ambient sound. The article offers testable propositions and poses open research questions that can serve as impetus for future research. In addition, it provides insights to marketers regarding how to navigate voice technology as a source of consumer information and to policy makers regarding how to better protect consumer privacy in interactions with voice technology.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89493951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-25DOI: 10.1177/00222429221137817
Alessandro Biraglia, Christoph Fuchs, E. Maira, S. Puntoni
Brand acquisitions are a popular growth strategy. However, both anecdotal evidence and initial empirical evidence suggest that acquisitions can harm the acquired brand. This article proposes and tests a theoretical framework that aims to explain when and why consumers react negatively to acquired brands. Across ten studies using different methods, research designs, product categories, and brands, the authors demonstrate that these negative brand reactions can be explained by the perceived loss of a brand's unique values. Building on this values authenticity account, they document that the negative effect of acquisitions depends on the acquired brand's values, brand age, leadership continuity, and the alignment between acquiring and acquired brands. The findings offer important theoretical and managerial implications, helping managers predict and mitigate the negative effects of acquisitions for brands.
{"title":"When and Why Consumers React Negatively to Brand Acquisitions: A Values Authenticity Account","authors":"Alessandro Biraglia, Christoph Fuchs, E. Maira, S. Puntoni","doi":"10.1177/00222429221137817","DOIUrl":"https://doi.org/10.1177/00222429221137817","url":null,"abstract":"Brand acquisitions are a popular growth strategy. However, both anecdotal evidence and initial empirical evidence suggest that acquisitions can harm the acquired brand. This article proposes and tests a theoretical framework that aims to explain when and why consumers react negatively to acquired brands. Across ten studies using different methods, research designs, product categories, and brands, the authors demonstrate that these negative brand reactions can be explained by the perceived loss of a brand's unique values. Building on this values authenticity account, they document that the negative effect of acquisitions depends on the acquired brand's values, brand age, leadership continuity, and the alignment between acquiring and acquired brands. The findings offer important theoretical and managerial implications, helping managers predict and mitigate the negative effects of acquisitions for brands.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86258946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-14DOI: 10.1177/00222429221129661
C. Moorman, Harald J. van Heerde, C. Page Moreau, Robert W. Palmatier
We began our tenure as editors by sharing our vision for the Journal of Marketing (JM) as a vibrant “marketplace of ideas” that offers insight, challenge, debate, innovation, and impact (Moorman et al. 2019). We envisioned the journal as more than a repository of well-honed studies. Instead, we hoped it could become a platform for people, processes, and aspirations that shape the discipline in important ways. It has been a privilege and honor to lead JM toward this goal over the last four years. This experience has been transformative for each of us—it has widened our understanding of the field, its members, and its potential, while also creating awareness of some of its weaknesses and opportunities for future growth. This final editorial will share some of the lessons we learned along the way—lessons that we think are relevant to all members of our field, including Ph.D. students, young faculty, senior faculty, journal gatekeepers and the committees that select them —whether in Bangalore, Beijing, Boston, or Berlin. Importantly, we arrived at these lessons through our work with so many of you around the world—as authors, editorial team members, advisors, and staff. Thank you for taking this journey with us. When reflecting on these lessons, which we summarize in Table 1, we turned to the core activities in any healthy marketplace of ideas: knowledge development and knowledge dissemination. In each case, we detail important lessons we have learned. We close by discussing two broader lessons about the larger purpose of journals and publishing that are embodied in the earlier lessons.
{"title":"From Vision to Reality: Lessons in Creating a Marketplace of Ideas","authors":"C. Moorman, Harald J. van Heerde, C. Page Moreau, Robert W. Palmatier","doi":"10.1177/00222429221129661","DOIUrl":"https://doi.org/10.1177/00222429221129661","url":null,"abstract":"We began our tenure as editors by sharing our vision for the Journal of Marketing (JM) as a vibrant “marketplace of ideas” that offers insight, challenge, debate, innovation, and impact (Moorman et al. 2019). We envisioned the journal as more than a repository of well-honed studies. Instead, we hoped it could become a platform for people, processes, and aspirations that shape the discipline in important ways. It has been a privilege and honor to lead JM toward this goal over the last four years. This experience has been transformative for each of us—it has widened our understanding of the field, its members, and its potential, while also creating awareness of some of its weaknesses and opportunities for future growth. This final editorial will share some of the lessons we learned along the way—lessons that we think are relevant to all members of our field, including Ph.D. students, young faculty, senior faculty, journal gatekeepers and the committees that select them —whether in Bangalore, Beijing, Boston, or Berlin. Importantly, we arrived at these lessons through our work with so many of you around the world—as authors, editorial team members, advisors, and staff. Thank you for taking this journey with us. When reflecting on these lessons, which we summarize in Table 1, we turned to the core activities in any healthy marketplace of ideas: knowledge development and knowledge dissemination. In each case, we detail important lessons we have learned. We close by discussing two broader lessons about the larger purpose of journals and publishing that are embodied in the earlier lessons.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90945177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-10DOI: 10.1177/00222429221131517
Shrihari Sridhar, Cait Lamberton, Detelina Marinova, V. Swaminathan
We are excited, honored, and grateful to assume leadership of Journal of Marketing (JM), the most cited, broadest, and most read marketing academic journal in the world. JM aims to connect marketing stakeholders with scholars who have fresh, bold, and rigorous ideas and whose research offers novel contributions. As we assume the editorship of JM, we are thankful to the previous editorial team of Christine Moorman, Harald van Heerde, Page Moreau, and Robert Palmatier for their superhuman efforts in galvanizing the journal and enhancing its impact in the marketing discipline. We are also thankful to the 30 past editorial teams that have served JM since 1936. The vision and strategies of each team, and the concomitant evolution of the intellectual community, have continually strengthened JM’s standing as a premier research outlet for the marketing discipline. Before we share our editorial strategy and initiatives, we want to highlight the important role played by journals in determining the influence of marketing scholarship. We believe that marketing scholarship can serve as a positive source of energy and spark necessary change for a wide range of stakeholders. Specifically, we propose that journals can serve the discipline much like catalysts serve chemical reactions—and we see ourselves fostering and promoting this role. Good chemical catalysts act as substrates within which constituent elements encounter and interact with one another. Likewise, we envision a JM that can facilitate transfer of knowledge among its producers and consumers and, in so doing, drive deeper engagement among its multiple stakeholders. Good catalysts draw attention to elements that have a unique power to alter other elements, generate light, or spark processes. Good catalysts accelerate reactions. They provide alternative, robust pathways for the adoption and implementation of solutions that emerge from the processes they foster. Further, good catalysts take part in chemical reactions without being consumed in the process. Likewise, journals such as ours are poised to serve as accelerators for constructive dialogue and engagement among participants, free of agenda or bias. If we manage JM so as to catalyze our connected stakeholders, we can anticipate the reactions and processes that unfold in the field that will uncover unique ways in which society at large uses marketing scholarship. Importantly, positioning JM as a catalytic agent is consistent with the ambition of marketing scholarship to not only support the marketing academic community but also advance a broader community of stakeholders, including practitioners, policy makers, and the world at large. In a rapidly changing, postpandemic, technology-led environment, this is more critical than ever before.
{"title":"JM: Promoting Catalysis in Marketing Scholarship","authors":"Shrihari Sridhar, Cait Lamberton, Detelina Marinova, V. Swaminathan","doi":"10.1177/00222429221131517","DOIUrl":"https://doi.org/10.1177/00222429221131517","url":null,"abstract":"We are excited, honored, and grateful to assume leadership of Journal of Marketing (JM), the most cited, broadest, and most read marketing academic journal in the world. JM aims to connect marketing stakeholders with scholars who have fresh, bold, and rigorous ideas and whose research offers novel contributions. As we assume the editorship of JM, we are thankful to the previous editorial team of Christine Moorman, Harald van Heerde, Page Moreau, and Robert Palmatier for their superhuman efforts in galvanizing the journal and enhancing its impact in the marketing discipline. We are also thankful to the 30 past editorial teams that have served JM since 1936. The vision and strategies of each team, and the concomitant evolution of the intellectual community, have continually strengthened JM’s standing as a premier research outlet for the marketing discipline. Before we share our editorial strategy and initiatives, we want to highlight the important role played by journals in determining the influence of marketing scholarship. We believe that marketing scholarship can serve as a positive source of energy and spark necessary change for a wide range of stakeholders. Specifically, we propose that journals can serve the discipline much like catalysts serve chemical reactions—and we see ourselves fostering and promoting this role. Good chemical catalysts act as substrates within which constituent elements encounter and interact with one another. Likewise, we envision a JM that can facilitate transfer of knowledge among its producers and consumers and, in so doing, drive deeper engagement among its multiple stakeholders. Good catalysts draw attention to elements that have a unique power to alter other elements, generate light, or spark processes. Good catalysts accelerate reactions. They provide alternative, robust pathways for the adoption and implementation of solutions that emerge from the processes they foster. Further, good catalysts take part in chemical reactions without being consumed in the process. Likewise, journals such as ours are poised to serve as accelerators for constructive dialogue and engagement among participants, free of agenda or bias. If we manage JM so as to catalyze our connected stakeholders, we can anticipate the reactions and processes that unfold in the field that will uncover unique ways in which society at large uses marketing scholarship. Importantly, positioning JM as a catalytic agent is consistent with the ambition of marketing scholarship to not only support the marketing academic community but also advance a broader community of stakeholders, including practitioners, policy makers, and the world at large. In a rapidly changing, postpandemic, technology-led environment, this is more critical than ever before.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76085339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-08DOI: 10.1177/00222429221134489
Zixia Cao, Reo Song, Alina Sorescu, Ansley Chua
At the time of an initial public offering (IPO), firms seek to maximize their stock market value. The authors theorize and show that a firm's innovation potential—firm outputs and activities that contribute to the development of future new products—can be used by the managers of IPO firms as a credible signal of the quality of the firm. Using a sample of 370 IPO firms from the consumer-packaged goods and pharmaceutical industries, and three metrics of innovation potential, the authors show that firms’ innovation potential is (1) positively associated with the initial value of the IPO and with the first-day IPO returns and (2) negatively associated with the extent to which insiders sell their shares at the time of the IPO. The effectiveness of the three metrics of innovation potential as a signal of firm quality varies: patents have a stronger impact on insider sales than preannouncements and generic references to future innovation, while preannouncements have the strongest impact on first-day IPO returns. The article presents a nuanced view of the extent to which various firm stakeholders consider information about firms’ innovation potential to be a credible signal that reduces the adverse selection present in IPO deals with insider sales.
{"title":"Innovation Potential, Insider Sales, and IPO Performance: How Firms Can Mitigate the Negative Effect of Insider Selling","authors":"Zixia Cao, Reo Song, Alina Sorescu, Ansley Chua","doi":"10.1177/00222429221134489","DOIUrl":"https://doi.org/10.1177/00222429221134489","url":null,"abstract":"At the time of an initial public offering (IPO), firms seek to maximize their stock market value. The authors theorize and show that a firm's innovation potential—firm outputs and activities that contribute to the development of future new products—can be used by the managers of IPO firms as a credible signal of the quality of the firm. Using a sample of 370 IPO firms from the consumer-packaged goods and pharmaceutical industries, and three metrics of innovation potential, the authors show that firms’ innovation potential is (1) positively associated with the initial value of the IPO and with the first-day IPO returns and (2) negatively associated with the extent to which insiders sell their shares at the time of the IPO. The effectiveness of the three metrics of innovation potential as a signal of firm quality varies: patents have a stronger impact on insider sales than preannouncements and generic references to future innovation, while preannouncements have the strongest impact on first-day IPO returns. The article presents a nuanced view of the extent to which various firm stakeholders consider information about firms’ innovation potential to be a credible signal that reduces the adverse selection present in IPO deals with insider sales.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81722227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-16DOI: 10.1177/00222429221130011
Ayan Ghosh Dastidar, Sarang Sunder, Denish Shah
Can TV advertising affect societal outcomes beyond traditional marketing outcomes such as sales and brand awareness? The authors address this question in the context of the COVID-19 pandemic by analyzing daily advertising and mobility data for 2,194 counties across 204 designated market areas in the United States. By employing a border identification strategy that exploits discontinuities across television markets, the authors find a significant positive causal relationship between TV ads from brands containing COVID-19 narratives and people's social distancing behavior, while controlling for government policy interventions (e.g., shelter-in-place, mask mandates). The estimated effects are almost 11 times larger in counties without government policy interventions compared with counties with policy interventions. Notably, while the overall impact of government ads on social distancing behavior is nonsignificant, the effect becomes significantly negative (positive) in the presence (absence) of policy interventions. The results are robust to alternative model specifications, variable operationalizations, and other data considerations. The findings underscore the critical role that spillover effects from brand-sponsored TV ads can play during major public crises, including mitigating the lack of local governments' policy interventions. The findings bear substantive implications for managers and policy makers regarding how advertising strategies may help improve public health outcomes or advance social good.
{"title":"Societal Spillovers of TV Advertising: Social Distancing During a Public Health Crisis","authors":"Ayan Ghosh Dastidar, Sarang Sunder, Denish Shah","doi":"10.1177/00222429221130011","DOIUrl":"https://doi.org/10.1177/00222429221130011","url":null,"abstract":"Can TV advertising affect societal outcomes beyond traditional marketing outcomes such as sales and brand awareness? The authors address this question in the context of the COVID-19 pandemic by analyzing daily advertising and mobility data for 2,194 counties across 204 designated market areas in the United States. By employing a border identification strategy that exploits discontinuities across television markets, the authors find a significant positive causal relationship between TV ads from brands containing COVID-19 narratives and people's social distancing behavior, while controlling for government policy interventions (e.g., shelter-in-place, mask mandates). The estimated effects are almost 11 times larger in counties without government policy interventions compared with counties with policy interventions. Notably, while the overall impact of government ads on social distancing behavior is nonsignificant, the effect becomes significantly negative (positive) in the presence (absence) of policy interventions. The results are robust to alternative model specifications, variable operationalizations, and other data considerations. The findings underscore the critical role that spillover effects from brand-sponsored TV ads can play during major public crises, including mitigating the lack of local governments' policy interventions. The findings bear substantive implications for managers and policy makers regarding how advertising strategies may help improve public health outcomes or advance social good.","PeriodicalId":16152,"journal":{"name":"Journal of Marketing","volume":null,"pages":null},"PeriodicalIF":12.9,"publicationDate":"2022-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74100639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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