Pub Date : 2025-12-01DOI: 10.1016/j.ijresmar.2024.10.006
Arnd Vomberg , Christian Homburg , Panagiotis Sarantopoulos
With the widespread use of pricing algorithms in online markets, prices are increasingly fluctuating, contradicting consumers’ desire for price stability. This research examines the central form of algorithmic pricing in online markets—namely, algorithmic dynamic pricing (ADP). In five studies, including one real-world ADP encounter and four incentive-based experimental studies (in addition to two Web Appendix studies), we use price fairness and range–frequency theory to examine how ADP affects consumers’ trust in ADP retailers and the extent of their price search. The findings reveal that ADP reduces trust in the ADP retailer, though this effect diminishes after consumers become accustomed to ADP. Furthermore, ADP prolongs price search duration, which lengthens with consumer ADP experience and shortens as ADP becomes the market norm. These findings suggest that retailers can implement ADP, as consumer backlash can be short-term. ADP retailers can also actively build consumers’ trust and affect their search for prices through price-matching strategies. In particular, retailers can communicate their use of reactive ADP (i.e., ADP aligned with competitive prices) and offer price-matching guarantees.
{"title":"Algorithmic pricing: Effects on consumer trust and price search","authors":"Arnd Vomberg , Christian Homburg , Panagiotis Sarantopoulos","doi":"10.1016/j.ijresmar.2024.10.006","DOIUrl":"10.1016/j.ijresmar.2024.10.006","url":null,"abstract":"<div><div>With the widespread use of pricing algorithms in online markets, prices are increasingly fluctuating, contradicting consumers’ desire for price stability. This research examines the central form of algorithmic pricing in online markets—namely, algorithmic dynamic pricing (ADP). In five studies, including one real-world ADP encounter and four incentive-based experimental studies (in addition to two <span><span>Web Appendix</span></span> studies), we use price fairness and range–frequency theory to examine how ADP affects consumers’ trust in ADP retailers and the extent of their price search. The findings reveal that ADP reduces trust in the ADP retailer, though this effect diminishes after consumers become accustomed to ADP. Furthermore, ADP prolongs price search duration, which lengthens with consumer ADP experience and shortens as ADP becomes the market norm. These findings suggest that retailers can implement ADP, as consumer backlash can be short-term. ADP retailers can also actively build consumers’ trust and affect their search for prices through price-matching strategies. In particular, retailers can communicate their use of reactive ADP (i.e., ADP aligned with competitive prices) and offer price-matching guarantees.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 4","pages":"Pages 1166-1186"},"PeriodicalIF":7.5,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145760558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01DOI: 10.1016/j.ijresmar.2025.02.002
Kosuke Motoki , Sayo Iseki , Abhishek Pathak
Reduplication, a linguistic feature in which part or all of a word is repeated (e.g., “kuku,” in which the syllable “ku” is doubled), is widely observed across languages and plays a significant role in child-directed speech, language acquisition, and even adult communication (e.g., “knock knock”). Despite its prevalence, reduplication remains one of the least studied aspects of brand names, and little is known about its impact on consumer perception. This study investigates how reduplicated sounds in brand names affect consumer preferences, revealing that such names enhance brand appeal by triggering associations with baby-schema cuteness. Additionally, this research identifies two key moderators: brand–product fit and the perceived cuteness of specific phonemes, such as bilabial sounds (e.g., “m” and “p”). These findings advance our understanding of brand naming and cute branding, offering practical insights for companies looking to increase brand attractiveness through sound-based cuteness.
{"title":"Sounds cute: Exploring the role of sound reduplication in brand names","authors":"Kosuke Motoki , Sayo Iseki , Abhishek Pathak","doi":"10.1016/j.ijresmar.2025.02.002","DOIUrl":"10.1016/j.ijresmar.2025.02.002","url":null,"abstract":"<div><div>Reduplication, a linguistic feature in which part or all of a word is repeated (e.g., “kuku,” in which the syllable “ku” is doubled), is widely observed across languages and plays a significant role in child-directed speech, language acquisition, and even adult communication (e.g., “knock knock”). Despite its prevalence, reduplication remains one of the least studied aspects of brand names, and little is known about its impact on consumer perception. This study investigates how reduplicated sounds in brand names affect consumer preferences, revealing that such names enhance brand appeal by triggering associations with baby-schema cuteness. Additionally, this research identifies two key moderators: brand–product fit and the perceived cuteness of specific phonemes, such as bilabial sounds (e.g., “m” and “p”). These findings advance our understanding of brand naming and cute branding, offering practical insights for companies looking to increase brand attractiveness through sound-based cuteness.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 4","pages":"Pages 1305-1322"},"PeriodicalIF":7.5,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145760583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-01DOI: 10.1016/j.ijresmar.2025.03.004
Pierre-Yann Dolbec , Andrew N. Smith
Person-brands are key market actors in the creator economy, yet we lack a comprehensive understanding about how they capture the value they create. This research answers how by analyzing over 100 person-brands across diverse markets. We develop a novel framework for theorizing value capture by introducing the concept of value capture mode. We then detail three modes—Advertiser, Entrepreneur, and Professional—each involving unique strategies, resource bundling practices, activities, and risks. Our research reveals how person-brands bundle resources from value networks in the creator economy comprising audiences, brands, and platforms. It further explains how person-brands grow value capture through concentration, mode-spanning, and field-bridging approaches, providing insights into value network expansion and extraction by person-brands. We offer recommendations and research avenues for three key actors in the creator economy: person-brands, organizations, and platforms. For person-brands, we recommend targeting high-return opportunities through scalable, recurring, aligned, and recursive activities, and optimizing network positions by building communities, balancing centralization and diversification, establishing direct communication channels, and developing independent platforms. For organizations, we suggest investing in person-brands as partners rather than marketing tools, with specific strategies for each mode. For platforms, we recommend providing tailored tools and features to support person-brands’ value capture efforts in each mode.
{"title":"From fame and followers to fortune: How person-brands capture value in the creator economy","authors":"Pierre-Yann Dolbec , Andrew N. Smith","doi":"10.1016/j.ijresmar.2025.03.004","DOIUrl":"10.1016/j.ijresmar.2025.03.004","url":null,"abstract":"<div><div>Person-brands are key market actors in the creator economy, yet we lack a comprehensive understanding about how they capture the value they create. This research answers how by analyzing over 100 person-brands across diverse markets. We develop a novel framework for theorizing value capture by introducing the concept of value capture mode. We then detail three modes—Advertiser, Entrepreneur, and Professional—each involving unique strategies, resource bundling practices, activities, and risks. Our research reveals how person-brands bundle resources from value networks in the creator economy comprising audiences, brands, and platforms. It further explains how person-brands grow value capture through concentration, mode-spanning, and field-bridging approaches, providing insights into value network expansion and extraction by person-brands. We offer recommendations and research avenues for three key actors in the creator economy: person-brands, organizations, and platforms. For person-brands, we recommend targeting high-return opportunities through scalable, recurring, aligned, and recursive activities, and optimizing network positions by building communities, balancing centralization and diversification, establishing direct communication channels, and developing independent platforms. For organizations, we suggest investing in person-brands as partners rather than marketing tools, with specific strategies for each mode. For platforms, we recommend providing tailored tools and features to support person-brands’ value capture efforts in each mode.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 4","pages":"Pages 1264-1283"},"PeriodicalIF":7.5,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145760581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Blockchain technology plays a crucial role in digital art markets, where products are often purchased for their strong emotional benefits. This research explores whether object-inspired awe impacts artwork valuation in digital markets. Through eight studies, including real auction data from Christie’s and seven pre-registered experiments, the authors find that object-inspired awe increases consumer valuation of digital art. Notably, the positive relationship between object-inspired awe and valuation is strengthened when a blockchain ownership certificate is present (versus absent), and attenuated when the ownership status is semi-fungible (versus non-fungible). These findings are in line with a process wherein awe influences valuation by enhancing consumers’ sense of meaning with regard to an artwork. In sum, this research underscores the benefits of focusing on emotion in the context of blockchain-enabled digital goods, and reveals novel insights on the effect of object-inspired awe.
{"title":"Awe helps NFTs. The added value of object-inspired awe for blockchain-based digital art","authors":"Jana-Verena Gerhart , Aysu Senyuz , Bernadette Kamleitner","doi":"10.1016/j.ijresmar.2025.05.002","DOIUrl":"10.1016/j.ijresmar.2025.05.002","url":null,"abstract":"<div><div>Blockchain technology plays a crucial role in digital art markets, where products are often purchased for their strong emotional benefits. This research explores whether object-inspired awe impacts artwork valuation in digital markets. Through eight studies, including real auction data from Christie’s and seven pre-registered experiments, the authors find that object-inspired awe increases consumer valuation of digital art. Notably, the positive relationship between object-inspired awe and valuation is strengthened when a blockchain ownership certificate is present (versus absent), and attenuated when the ownership status is semi-fungible (versus non-fungible). These findings are in line with a process wherein awe influences valuation by enhancing consumers’ sense of meaning with regard to an artwork. In sum, this research underscores the benefits of focusing on emotion in the context of blockchain-enabled digital goods, and reveals novel insights on the effect of object-inspired awe.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 626-643"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-01DOI: 10.1016/j.ijresmar.2024.11.003
Chenming Peng , Martin Eisend , Diandian Xiang , Zengxiang Chen , Hong Zhao
Although research indicates that corporate social responsibility (CSR) can yield positive consumer responses, the challenge remains for companies, especially multinational ones, to effectively tailor CSR activities across different countries to achieve favorable outcomes. To address this, we classify CSR activities based on stakeholder theory into core and extended CSR types. We then introduce a meta-analytic framework that incorporates five country factors to examine how they affect the differential effects of these CSR types. Using a dataset comprising 940 effect sizes from 202 papers across 43 countries on six continents, we find that core CSR generally elicits more positive consumer responses than extended CSR, and that this effect is moderated by country factors. The positive differential effect of core over extended CSR is greater in societies that prioritize secular-rational values over traditional values, and survival values over self-expression values. Additionally, this positive differential effect increases with greater internet penetration but decreases with higher national economic growth rates and tertiary school enrollment. These findings advance the understanding of cross-country differences in CSR effects and types, offering valuable insights for international marketing managers.
{"title":"A meta-analysis of corporate social responsibility effects: The role of stakeholder type and country factors","authors":"Chenming Peng , Martin Eisend , Diandian Xiang , Zengxiang Chen , Hong Zhao","doi":"10.1016/j.ijresmar.2024.11.003","DOIUrl":"10.1016/j.ijresmar.2024.11.003","url":null,"abstract":"<div><div><span><span>Although research indicates that corporate social responsibility<span> (CSR) can yield positive consumer responses, the challenge remains for companies, especially multinational ones, to effectively tailor CSR activities across different countries to achieve favorable outcomes. To address this, we classify CSR activities based on </span></span>stakeholder theory into core and extended CSR types. We then introduce a </span><em>meta</em><span>-analytic framework that incorporates five country factors to examine how they affect the differential effects of these CSR types. Using a dataset comprising 940 effect sizes from 202 papers across 43 countries on six continents, we find that core CSR generally elicits more positive consumer responses than extended CSR, and that this effect is moderated by country factors. The positive differential effect of core over extended CSR is greater in societies that prioritize secular-rational values over traditional values, and survival values over self-expression values. Additionally, this positive differential effect increases with greater internet penetration but decreases with higher national economic growth rates and tertiary school enrollment. These findings advance the understanding of cross-country differences in CSR effects and types, offering valuable insights for international marketing managers.</span></div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 809-826"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145050460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-01DOI: 10.1016/j.ijresmar.2025.01.001
Leif Brandes, Katharina Dölp
Fueled by new technologies, such as blockchain and Web3, brands are increasingly extending into the digital space. One such novel extension is the non-fungible token (NFT). Numerous examples indicate that brands’ market performance with NFTs varies widely in terms of short-term revenues and spillovers to the parent brand. However, little is known about the factors that are associated with a successful performance. The goal of our research was to identify those factors. Regarding short-term revenues, we empirically tested the value of several possible success drivers; these drivers reflected a combination of the most important success factors for physical brand extensions (e.g., extension fit, brand equity) and value drivers for NFTs (e.g., added NFT utility, number of NFTs in the campaign). Using a novel dataset of 450 NFT campaigns, we document that both types of variables help to predict financial revenues from brand-related NFTs. Going beyond the short-term financial results of NFT campaigns, we also report experimental evidence that shows such campaigns may create negative spillovers for the parent brand. Overall, this research demonstrates (i) which value drivers correlate with a brand’s NFTs success, (ii) which brands are the best fit for NFTs, (iii) in what ways brand managers need to adapt their brand-extension strategies from the physical to the digital environment if they want to succeed with NFTs, and (iv) the risk that brand extensions with NFTs may hurt customers’ attitude towards the parent brand.
{"title":"Non-Fungible Tokens (NFTs) as digital brand extensions: Evidence on financial performance and parent-brand spillovers","authors":"Leif Brandes, Katharina Dölp","doi":"10.1016/j.ijresmar.2025.01.001","DOIUrl":"10.1016/j.ijresmar.2025.01.001","url":null,"abstract":"<div><div>Fueled by new technologies, such as blockchain and Web3, brands are increasingly extending into the digital space. One such novel extension is the non-fungible token (NFT). Numerous examples indicate that brands’ market performance with NFTs varies widely in terms of short-term revenues and spillovers to the parent brand. However, little is known about the factors that are associated with a successful performance. The goal of our research was to identify those factors. Regarding short-term revenues, we empirically tested the value of several possible success drivers; these drivers reflected a combination of the most important success factors for physical brand extensions (e.g., extension fit, brand equity) and value drivers for NFTs (e.g., added NFT utility, number of NFTs in the campaign). Using a novel dataset of 450 NFT campaigns, we document that both types of variables help to predict financial revenues from brand-related NFTs. Going beyond the short-term financial results of NFT campaigns, we also report experimental evidence that shows such campaigns may create negative spillovers for the parent brand. Overall, this research demonstrates (i) which value drivers correlate with a brand’s NFTs success, (ii) which brands are the best fit for NFTs, (iii) in what ways brand managers need to adapt their brand-extension strategies from the physical to the digital environment if they want to succeed with NFTs, and (iv) the risk that brand extensions with NFTs may hurt customers’ attitude towards the parent brand.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 491-521"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-01DOI: 10.1016/j.ijresmar.2024.03.002
Myriam Brouard
Imagine if owning a specific baseball card gave you the privilege of attending their home games. Or that having attended previous Taylor Swift tours entitled you to purchase tickets for her next tour. What would that be worth, and how would that change the way in which you relate to the brand or to the artist? This article examines the case of the Bored Ape Yacht Club (BAYC), a prominent Non-Fungible Token (NFT) community. The investigation reveals the multifaceted nature of NFTs, which can act as keys to access exclusive clubs and privileges, and as independent products whose value is inherently linked to market dynamics. By doing a deep dive into one of the most prominent NFT communities, BAYC, this work underscores the potentially transformative effects of NFTs on consumer experience, providing a deeper understanding of value co-creation in the rapidly evolving decentralized landscape.
想象一下,如果拥有一张特定的棒球卡,你就可以参加他们的主场比赛。或者,如果你参加过泰勒·斯威夫特之前的巡演,你就有资格购买她下次巡演的门票。它的价值是什么?它将如何改变你与品牌或艺术家的关系?本文研究了Bored Ape Yacht Club (BAYC)的案例,这是一个著名的不可替代代币(NFT)社区。调查揭示了nft的多面性,它可以作为进入高级俱乐部和特权的钥匙,也可以作为价值与市场动态内在联系的独立产品。通过深入研究最著名的NFT社区之一BAYC,这项工作强调了NFT对消费者体验的潜在变革性影响,为快速发展的分散环境中的价值共同创造提供了更深入的理解。
{"title":"Setting sail in a tokenized world: An exploration of the Bored Ape Yacht Club and the co-created consumer experience","authors":"Myriam Brouard","doi":"10.1016/j.ijresmar.2024.03.002","DOIUrl":"10.1016/j.ijresmar.2024.03.002","url":null,"abstract":"<div><div>Imagine if owning a specific baseball card gave you the privilege of attending their home games. Or that having attended previous Taylor Swift tours entitled you to purchase tickets for her next tour. What would that be worth, and how would that change the way in which you relate to the brand or to the artist? This article examines the case of the Bored Ape Yacht Club (BAYC), a prominent Non-Fungible Token (NFT) community. The investigation reveals the multifaceted nature of NFTs, which can act as keys to access exclusive clubs and privileges, and as independent products whose value is inherently linked to market dynamics. By doing a deep dive into one of the most prominent NFT communities, BAYC, this work underscores the potentially transformative effects of NFTs on consumer experience, providing a deeper understanding of value co-creation in the rapidly evolving decentralized landscape.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 522-535"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140398393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Despite the growing popularity of non-fungible tokens (NFTs) in the market, they still lack established valuation guidelines. Invoking herding and auction theories, this study investigates how NFT collectors’ bidding tendencies are influenced by other collectors’ bidding decisions (herding behavior). This study also examines how NFT visual characteristics, such as complexity and familiarity, moderate herding behavior. We use a computer vision technique to quantify the visual complexity of an NFT and apply transfer learning to capture its visual familiarity. Examining data from a widely used NFT platform, we find evidence of herding behavior in such auctions. Furthermore, our results show that there are nonlinear moderating effects of visual characteristics on herding behavior. Specifically, we find that consumers exhibit a stronger herding tendency at the two extremes of complexity distribution and at the lower extreme of familiarity distribution. Further analysis of the NFT resale market suggests that auction winners consider herding in the primary sale of an NFT as a signal of high demand; thus, they are more willing to resell it and set a higher price premium in the resale. These findings can be taken as input by the NFT market platforms in their NFT display decisions to boost primary market sales and promote resale market participation. The findings can also help content creators formulate creative strategies that lead to higher bidding probability or sales performance.
{"title":"Herding behavior in NFT Auction: The role of visual complexity and familiarity","authors":"Peiwen Xie , Eunsoo Kim , Shun Yin Lam , Sadat Reza","doi":"10.1016/j.ijresmar.2024.08.007","DOIUrl":"10.1016/j.ijresmar.2024.08.007","url":null,"abstract":"<div><div>Despite the growing popularity of non-fungible tokens (NFTs) in the market, they still lack established valuation guidelines. Invoking herding and auction theories, this study investigates how NFT collectors’ bidding tendencies are influenced by other collectors’ bidding decisions (herding behavior). This study also examines how NFT visual characteristics, such as complexity and familiarity, moderate herding behavior. We use a computer vision technique to quantify the visual complexity of an NFT and apply transfer learning to capture its visual familiarity. Examining data from a widely used NFT platform, we find evidence of herding behavior in such auctions. Furthermore, our results show that there are nonlinear moderating effects of visual characteristics on herding behavior. Specifically, we find that consumers exhibit a stronger herding tendency at the two extremes of complexity distribution and at the lower extreme of familiarity distribution. Further analysis of the NFT resale market suggests that auction winners consider herding in the primary sale of an NFT as a signal of high demand; thus, they are more willing to resell it and set a higher price premium in the resale. These findings can be taken as input by the NFT market platforms in their NFT display decisions to boost primary market sales and promote resale market participation. The findings can also help content creators formulate creative strategies that lead to higher bidding probability or sales performance.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 684-710"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142257683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-09-01DOI: 10.1016/j.ijresmar.2024.10.003
Yuanyuan Liu, Bingrui Huangfu, Zheng Qiao, Xi Zhao
Non-fungible tokens (NFTs) have become popular and are frequently traded in marketplaces. The current study examines how an NFT’s within-collection rarity influences sellers’ and buyers’ pricing and pricing dynamics. Relying on the pricing history of CryptoPunks, one of the most famous and valuable NFT collections, we find that rarity’s positive impact on willingness to accept is greater than on willingness to pay, which generates a larger pricing disparity. We further examine rarity’s impact on subsequent price adjustments and find that as rarity increases, buyers are more inclined to make greater price concessions, and sellers are reluctant to reduce their prices. Results also show that rarity’s positive impact on pricing is moderated by the NFT’s past ownership, agents’ trading experiences, and agents’ average holding periods for previous NFTs. Finally, an experiment reveals the mediating role of the focus on rarity that sellers tend to consider more about the NFT’s rarity than buyers, and therefore rarity’s positive impact on pricing is more salient for sellers than buyers.
{"title":"Rarity, the WTA-WTP disparity, and price adjustments in the NFT market","authors":"Yuanyuan Liu, Bingrui Huangfu, Zheng Qiao, Xi Zhao","doi":"10.1016/j.ijresmar.2024.10.003","DOIUrl":"10.1016/j.ijresmar.2024.10.003","url":null,"abstract":"<div><div>Non-fungible tokens (NFTs) have become popular and are frequently traded in marketplaces. The current study examines how an NFT’s within-collection rarity influences sellers’ and buyers’ pricing and pricing dynamics. Relying on the pricing history of CryptoPunks, one of the most famous and valuable NFT collections, we find that rarity’s positive impact on willingness to accept is greater than on willingness to pay, which generates a larger pricing disparity. We further examine rarity’s impact on subsequent price adjustments and find that as rarity increases, buyers are more inclined to make greater price concessions, and sellers are reluctant to reduce their prices. Results also show that rarity’s positive impact on pricing is moderated by the NFT’s past ownership, agents’ trading experiences, and agents’ average holding periods for previous NFTs. Finally, an experiment reveals the mediating role of the focus on rarity that sellers tend to consider more about the NFT’s rarity than buyers, and therefore rarity’s positive impact on pricing is more salient for sellers than buyers.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 594-609"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Negotiations between manufacturers and retailers often go sour and result in conflict delistings in which the manufacturers’ products are removed from the retailers’ assortment. While conflict delistings can cause major revenue and market share losses for both manufacturers and retailers, prior literature provides little guidance on how to use marketing actions to alleviate these severe damages. To fill this gap, the authors use a contingency framework to assess the impact of advertising and price for both manufacturers and retailers in different conflict delisting situations. Using household scanner data for different conflict delistings, this study reveals that overall the impact of advertising decreases during the conflict delisting for both involved parties while price reductions become more effective for the brand manufacturer (but not the retailer). Importantly, the impact of advertising and price during the conflict delisting depends on conflict characteristics. The impact of advertising will be higher if the firm initiated the conflict and when the conflict is surrounded by a lot of publicity. Price reductions are particularly interesting for retailers, especially when the conflict involved a smaller elimination size, when the retailer was the initiator of the conflict, and when there was less publicity. Price reductions are also fruitful for brand manufacturers in case they did not initiate the conflict.
{"title":"The effectiveness of advertising and price during conflict delistings","authors":"Marleen Hermans , Kathleen Cleeren , Néomie Raassens","doi":"10.1016/j.ijresmar.2024.12.001","DOIUrl":"10.1016/j.ijresmar.2024.12.001","url":null,"abstract":"<div><div>Negotiations between manufacturers and retailers often go sour and result in conflict delistings in which the manufacturers’ products are removed from the retailers’ assortment. While conflict delistings can cause major revenue and market share losses for both manufacturers and retailers, prior literature provides little guidance on how to use marketing actions to alleviate these severe damages. To fill this gap, the authors use a contingency framework to assess the impact of advertising and price for both manufacturers and retailers in different conflict delisting situations. Using household scanner data for different conflict delistings, this study reveals that overall the impact of advertising decreases during the conflict delisting for both involved parties while price reductions become more effective for the brand manufacturer (but not the retailer). Importantly, the impact of advertising and price during the conflict delisting depends on conflict characteristics. The impact of advertising will be higher if the firm initiated the conflict and when the conflict is surrounded by a lot of publicity. Price reductions are particularly interesting for retailers, especially when the conflict involved a smaller elimination size, when the retailer was the initiator of the conflict, and when there was less publicity. Price reductions are also fruitful for brand manufacturers in case they did not initiate the conflict.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 866-885"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145049864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}