Pub Date : 2012-05-01DOI: 10.2478/GFKMIR-2014-0040
K. Miller, R. Hofstetter, Harley Krohmer, Z. J. Zhang
Abstract Gauging the maximum willingness to pay (WTP) of a product accurately is a critical success factor that determines not only market performance but also financial results. A number of approaches have therefore been developed to accurately estimate consumers’ willingness to pay. Here, four commonly used measurement approaches are compared using real purchase data as a benchmark. The relative strengths of each method are analyzed on the basis of statistical criteria and, more importantly, on their potential to predict managerially relevant criteria such as optimal price, quantity and profit. The results show a slight advantage of incentive-aligned approaches though the market settings need to be considered to choose the best-fitting procedure
{"title":"Measuring Consumers’ Willingness to Pay. Which Method Fits Best?","authors":"K. Miller, R. Hofstetter, Harley Krohmer, Z. J. Zhang","doi":"10.2478/GFKMIR-2014-0040","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0040","url":null,"abstract":"Abstract Gauging the maximum willingness to pay (WTP) of a product accurately is a critical success factor that determines not only market performance but also financial results. A number of approaches have therefore been developed to accurately estimate consumers’ willingness to pay. Here, four commonly used measurement approaches are compared using real purchase data as a benchmark. The relative strengths of each method are analyzed on the basis of statistical criteria and, more importantly, on their potential to predict managerially relevant criteria such as optimal price, quantity and profit. The results show a slight advantage of incentive-aligned approaches though the market settings need to be considered to choose the best-fitting procedure","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"95 7 1","pages":"42 - 49"},"PeriodicalIF":0.0,"publicationDate":"2012-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83458357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2012-05-01DOI: 10.2478/GFKMIR-2014-0037
T. Teixeira, M. Wedel, R. Pieters
Abstract Vast sums of money are still spent on TV advertising. In an environment of rising perviewer rates for advertisers and increased skipping past ads by consumers it is necessary for advertising managers to understand the determinants of commercial avoidance. In order to optimize brand exposure they need information on how to best retain consumers’ attention from moment-to-moment during television advertising. This large-scale eye tracking study shows that the decision to zap or not to zap depends on how the brand is presented within the commercial. First, the ability of a commercial to concentrate consumers’ visual attention reduced avoidance significantly. Second, the likelihood that viewers will zap can be decreased with a “pulsing strategy” in which brand images are shown more frequently for a shorter period of time within the commercial instead of longer at the beginning or end.
{"title":"To Zap or Not to Zap: How to Insert the Brand in TV Commercials to Minimize Avoidance","authors":"T. Teixeira, M. Wedel, R. Pieters","doi":"10.2478/GFKMIR-2014-0037","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0037","url":null,"abstract":"Abstract Vast sums of money are still spent on TV advertising. In an environment of rising perviewer rates for advertisers and increased skipping past ads by consumers it is necessary for advertising managers to understand the determinants of commercial avoidance. In order to optimize brand exposure they need information on how to best retain consumers’ attention from moment-to-moment during television advertising. This large-scale eye tracking study shows that the decision to zap or not to zap depends on how the brand is presented within the commercial. First, the ability of a commercial to concentrate consumers’ visual attention reduced avoidance significantly. Second, the likelihood that viewers will zap can be decreased with a “pulsing strategy” in which brand images are shown more frequently for a shorter period of time within the commercial instead of longer at the beginning or end.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"25 1","pages":"14 - 23"},"PeriodicalIF":0.0,"publicationDate":"2012-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89394709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0047
Nukhet Harmancioglu, A. Grinstein, A. Goldman
Abstract Research in marketing has typically studied market information collection efforts from the perspective of employees and market research companies, disregarding the role that the top management team (TMT) plays in these efforts. In a B2B environment, we find positive effects of TMT involvement in market information collection efforts on firm innovativeness above and beyond employees’ market information collection efforts. The observed effects are stronger for smaller firms and high-tech companies
{"title":"SHOULD TOP MANAGEMENT GET INVOLVED IN MARKET INFORMATION COLLECTION EFFORTS?","authors":"Nukhet Harmancioglu, A. Grinstein, A. Goldman","doi":"10.2478/GFKMIR-2014-0047","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0047","url":null,"abstract":"Abstract Research in marketing has typically studied market information collection efforts from the perspective of employees and market research companies, disregarding the role that the top management team (TMT) plays in these efforts. In a B2B environment, we find positive effects of TMT involvement in market information collection efforts on firm innovativeness above and beyond employees’ market information collection efforts. The observed effects are stronger for smaller firms and high-tech companies","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"27 1","pages":"44 - 49"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81808694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0088
F. Morhart, W. Herzog, T. Tomczak
Abstract How can managers elicit brand-building behaviors on the part of frontline employees? When comparing brand-specific “transactional” and “transformational” leadership styles, the latter clearly outperforms the former. Transactional leaders influence followers through a process of compliance, leading to increased turnover intentions and a decrease in in-role and extra-role brand-building behaviors. In contrast, brand-specific transformational leaders influence followers through a process of internalization, leading to decreased turnover intentions and an increase in in-role and extra-role brand-building behaviors. When combined, however, a medium level of transactional leadership maximizes the positive effects of transformational leadership.
{"title":"Turning Employees Into Brand Champions: LEADERSHIP STYLE MAKES A DIFFERENCE","authors":"F. Morhart, W. Herzog, T. Tomczak","doi":"10.2478/GFKMIR-2014-0088","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0088","url":null,"abstract":"Abstract How can managers elicit brand-building behaviors on the part of frontline employees? When comparing brand-specific “transactional” and “transformational” leadership styles, the latter clearly outperforms the former. Transactional leaders influence followers through a process of compliance, leading to increased turnover intentions and a decrease in in-role and extra-role brand-building behaviors. In contrast, brand-specific transformational leaders influence followers through a process of internalization, leading to decreased turnover intentions and an increase in in-role and extra-role brand-building behaviors. When combined, however, a medium level of transactional leadership maximizes the positive effects of transformational leadership.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"82 ","pages":"34 - 43"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2478/GFKMIR-2014-0088","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72540443","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0046
Laurens Sloot, P. Verhoef
Abstract To gain efficiencies in the supply chain, retailers regularly consider which items of products or brands they can delist. However, increased efficiency is not granted when products are dropped. Choosing the “wrong” products or brands may result in reduced customer satisfaction, lost category sales, or increased store switching behavior. The detergent assortment reduction at a Dutch retailer showed that sales losses can only be observed in the short run and that the reduced assortment is more attractive, especially to new buyers in the category. A survey across multiple categories revealed that negative effects of delisting are less risky for weaker brands and utilitarian products. Retailers are welladvised to be cautious with dropping strong, hedonic brands and use a set of criteria to make the best delisting decisions. Manufacturers should apply approaches depending on the strengths of their brands when confronted with an impending delisting
{"title":"Reducing Assortments without Losing Business: Key Lessons for Retailers and Manufacturers","authors":"Laurens Sloot, P. Verhoef","doi":"10.2478/GFKMIR-2014-0046","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0046","url":null,"abstract":"Abstract To gain efficiencies in the supply chain, retailers regularly consider which items of products or brands they can delist. However, increased efficiency is not granted when products are dropped. Choosing the “wrong” products or brands may result in reduced customer satisfaction, lost category sales, or increased store switching behavior. The detergent assortment reduction at a Dutch retailer showed that sales losses can only be observed in the short run and that the reduced assortment is more attractive, especially to new buyers in the category. A survey across multiple categories revealed that negative effects of delisting are less risky for weaker brands and utilitarian products. Retailers are welladvised to be cautious with dropping strong, hedonic brands and use a set of criteria to make the best delisting decisions. Manufacturers should apply approaches depending on the strengths of their brands when confronted with an impending delisting","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"32 1","pages":"26 - 33"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80804291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0044
Lopo L. Rego, Matthew T. Billett, Neil A. Morgan
Abstract Whereas it is widely accepted that strong brands are associated with superior productmarketplace and firm financial performance, their influence on firm risk is less clear. However, recent studies from the marketing-finance interface have started to unveil the impact that marketing activities have on the firm’s financial risk, above and beyond ist impact on financial returns. In this study, the association between brand equity and firm risk are investigated. The findings indicate that a firm’s consumer-based brand equity (i.e., strong brands) is associated with decreased debtholder and shareholder risk and also reduces the capital costs for the company. Furthermore, brand equity is particularly relevant in protecting firms’ equity holders during down-market periods. As a consequence, firms should consider brand management within the firm’s risk management strategy and maintain or even increase consumer-based brand equity investments during periods of economic uncertainty.
{"title":"The “Risky” Side of Brand Equity: How Brands Reduce Capital Costs","authors":"Lopo L. Rego, Matthew T. Billett, Neil A. Morgan","doi":"10.2478/GFKMIR-2014-0044","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0044","url":null,"abstract":"Abstract Whereas it is widely accepted that strong brands are associated with superior productmarketplace and firm financial performance, their influence on firm risk is less clear. However, recent studies from the marketing-finance interface have started to unveil the impact that marketing activities have on the firm’s financial risk, above and beyond ist impact on financial returns. In this study, the association between brand equity and firm risk are investigated. The findings indicate that a firm’s consumer-based brand equity (i.e., strong brands) is associated with decreased debtholder and shareholder risk and also reduces the capital costs for the company. Furthermore, brand equity is particularly relevant in protecting firms’ equity holders during down-market periods. As a consequence, firms should consider brand management within the firm’s risk management strategy and maintain or even increase consumer-based brand equity investments during periods of economic uncertainty.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"49 1","pages":"8 - 15"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76388078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0045
E. Dahan, Arina Soukhoroukova, Martin Spann
Abstract Preference markets address the need for scalable, fast and engaging market research in new product development. The Web 2.0 paradigm, in which users contribute numerous ideas that may lead to new products, requires new methods of screening those ideas for their marketability and preference markets offer just such a mechanism. For faster new product development decisions, a flexible prioritization methodology for product features and concepts is tested. It scales up in the number of testable alternatives, limited only by the number of participants. New product preferences for concepts, attributes and attribute levels are measured by trading stocks whose prices are based upon share of choice of new products and features. Benefits of preference markets include speed, scalability, flexibility, and respondent enthusiasm for the method.
{"title":"Preference Markets in New Product Development","authors":"E. Dahan, Arina Soukhoroukova, Martin Spann","doi":"10.2478/GFKMIR-2014-0045","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0045","url":null,"abstract":"Abstract Preference markets address the need for scalable, fast and engaging market research in new product development. The Web 2.0 paradigm, in which users contribute numerous ideas that may lead to new products, requires new methods of screening those ideas for their marketability and preference markets offer just such a mechanism. For faster new product development decisions, a flexible prioritization methodology for product features and concepts is tested. It scales up in the number of testable alternatives, limited only by the number of participants. New product preferences for concepts, attributes and attribute levels are measured by trading stocks whose prices are based upon share of choice of new products and features. Benefits of preference markets include speed, scalability, flexibility, and respondent enthusiasm for the method.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"12 1","pages":"16 - 25"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84677575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/GFKMIR-2014-0048
C. Eckert
Abstract Price differentiation has long been recognized as a strategy that companies can use to increase profits when consumers’ tastes and valuations of a good price vary. Companies engaging in price differentiation have the opportunity to increase profits considerably compared to those which use a uniform pricing strategy. Accordingly, it should be beneficial for companies to exploit the possibility of charging different prices in online and offline channels as they offer different shopping benefits and are differently valued by consumers. nevertheless, it can be observed that some multi-channel retailers prefer to charge uniform prices in online and offline channels. They argue for consistent prices across distribution channels to maintain a strong brand - and because varying prices may lead to customers’ confusion, anger, irritation and perceptions of price unfairness.
{"title":"Different Channel – Different Price? INVESTIGATING THE PRACTICE OF MULTI-CHANNEL PRICE DIFFERENTIATION","authors":"C. Eckert","doi":"10.2478/GFKMIR-2014-0048","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0048","url":null,"abstract":"Abstract Price differentiation has long been recognized as a strategy that companies can use to increase profits when consumers’ tastes and valuations of a good price vary. Companies engaging in price differentiation have the opportunity to increase profits considerably compared to those which use a uniform pricing strategy. Accordingly, it should be beneficial for companies to exploit the possibility of charging different prices in online and offline channels as they offer different shopping benefits and are differently valued by consumers. nevertheless, it can be observed that some multi-channel retailers prefer to charge uniform prices in online and offline channels. They argue for consistent prices across distribution channels to maintain a strong brand - and because varying prices may lead to customers’ confusion, anger, irritation and perceptions of price unfairness.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"4 1","pages":"50 - 53"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77336101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-11-01DOI: 10.2478/gfkmir-2014-0049
H. Diller
Abstract The family-owned Underberg company, headquartered in Switzerland, has successfully produced and marketed spirits for more than 165 years. Dr. Hubertine Underberg-Ruder, fifth generation President of the Board, describes how the mediumsized company keeps growing responsibly and effectively in the heavily regulated spirits market and how they tackle global challenges.
{"title":"MIR TALKS TO HUBERTINE UNDERBERG-RUDER, PRESIDENT OF THE BOARD OF DIRECTORS, UNDERBERG AG","authors":"H. Diller","doi":"10.2478/gfkmir-2014-0049","DOIUrl":"https://doi.org/10.2478/gfkmir-2014-0049","url":null,"abstract":"Abstract The family-owned Underberg company, headquartered in Switzerland, has successfully produced and marketed spirits for more than 165 years. Dr. Hubertine Underberg-Ruder, fifth generation President of the Board, describes how the mediumsized company keeps growing responsibly and effectively in the heavily regulated spirits market and how they tackle global challenges.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"10 1","pages":"54 - 60"},"PeriodicalIF":0.0,"publicationDate":"2011-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87905285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-05-01DOI: 10.2478/GFKMIR-2014-0051
A. Chernev
Abstract The strategy of giving customers what they want can backfire when it comes to designing and managing product assortments. Not only does offering more options lead to higher costs for the company, larger assortments often lead to lower probability of purchase and decreased satisfaction due to choice overload. Surprisingly, most consumers (as well as many managers) are unaware of the drawbacks of larger assortments, displaying preference for the greater variety of options even in cases when such variety makes consumers less confident in their decisions and lowers their satisfaction with choice. Understanding the psychology of choice gives managers a competitive advantage, allowing them to design assortments and product lines that create value for both the company and its customers
{"title":"When More is Less and Less is More: The Psychology of Managing Product Assortments","authors":"A. Chernev","doi":"10.2478/GFKMIR-2014-0051","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0051","url":null,"abstract":"Abstract The strategy of giving customers what they want can backfire when it comes to designing and managing product assortments. Not only does offering more options lead to higher costs for the company, larger assortments often lead to lower probability of purchase and decreased satisfaction due to choice overload. Surprisingly, most consumers (as well as many managers) are unaware of the drawbacks of larger assortments, displaying preference for the greater variety of options even in cases when such variety makes consumers less confident in their decisions and lowers their satisfaction with choice. Understanding the psychology of choice gives managers a competitive advantage, allowing them to design assortments and product lines that create value for both the company and its customers","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"192 1","pages":"8 - 15"},"PeriodicalIF":0.0,"publicationDate":"2011-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75607135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：