Market-resistance and Valentine's Day events

Extending resistance theories, this article examines multi-method data spanning over seven years of events related to a holiday market. In the context of Valentine's Day, the authors present findings and develop knowledge on anti-consumption and alternative consumption. Specifically, this article introduces the recurring events of gift-resistance, retail-resistance, and market-resistance. Such consumer resistance often coexists with movements towards individualism and creation of more unique alternative consumption traditions.     

Japan and Hong Kong Exchange-Traded Funds (ETFs): Discounts, Returns, and Trading Strategies

Foreign exchange-traded funds (ETFs) trade on U.S. exchanges but provide broad exposure to foreign markets. ETFs are designed to minimize the deviation between price and value of the underlying securities. However, nonoverlapping trading hours between the United States and many foreign markets inhibit this mechanism. The data for Japan and Hong Kong iShares show that deviations exist between the ETF price and the value of the underlying securities. The deviations are positively related to subsequent ETF returns creating potential profit opportunities. A simple trading rule based on this observation produces impressive gross returns when compared to a buy-and-hold strategy.     

If You Blog,Will They Follow? Using Online Media to Set the Agenda for Consumer Concerns on “Greenwashed” Environmental Claims

Agenda-setting theory is used to investigate if consumers' online opinions on “greenwashed” advertisements (misleading green advertisements) are influenced by the agenda set by online newspaper articles and environmental nongovernmental organization (NGO) blogs. Leximancer is initially used to obtain attributes and identify themes from four different online stakeholder discussions on greenwashing. Content analysis and cross-lagged correlations are further used to verify if blogs and news articles set the substantive attribute salience in the consumer discussions over a 12-month period (January–December 2009). We found two significant themes in the various stakeholder discussions on greenwashing: marketing communication credibility and impact on natural environment. Results also indicate a bidirectional agenda-setting relationship between consumers and other stakeholders from the same country.     

Establishing human brands: determinants of placement success for first faculty positions in marketing

Based on primary data spanning 5 years, we examine factors that influence the entry-level placement of marketing doctoral candidates at U.S. universities and colleges. Contributing to the emerging research on human brands, we identify marketing doctoral candidates’ intrinsic and extrinsic brand cues that influence their number of AMA interviews, campus visit offers, and starting base salary. The strongest brand cue is the research productivity of candidates’ doctoral degree-granting departments. A related cue that also predicts initial salary is the candidates’ advisors’ research record. Further, when beginning the job search, doctoral students who have a top research publication, who have a dissertation proposal defended with data, and who have attended the AMA-Sheth Foundation Doctoral Consortium receive a substantial entry salary premium. Based on branding frameworks and theories of academic rewards, this study adds to the emerging knowledge on both the concept of human brands as well as the growing literature on issues relating to marketing academia.     

Regret and nonredemption of daily deals: Individual differences and contextual influences

The growth of online daily deal price promotions and the resulting consumer nonredemption of daily deal coupons is worthy of understanding from a psychological lens of nonconsumption. Whereas there is an emerging literature on daily deals and established literature on barriers to redemption, there exists a gap in where this scholarship intersects. This study provides a conceptual model explaining why consumers purchase daily deal coupons and do not redeem them. We explain consumers’ reasons for buying a daily deal upfront along with their reasons for not using it from theoretical lenses of reasons theory and social motivations theory. On testing the model empirically with qualitative and deepening insight via quantitative methods, the findings reveal that reasons for purchasing daily deals are rooted in individual consumer-level factors (i.e., price-consciousness, buying impulsiveness, and susceptibility to interpersonal normative influence). Further, reasons for nonredemption are explained by contextual elements of the daily deal (i.e., offer distinctiveness, the total number of daily deals sold, restrictions on using the deal, and low discount size). Our findings suggest that post-purchase regret ultimately explains a key reason deals go unused. Marketing implications are offered in the areas of characteristics of daily deal offers.     

Interactive music for multisensory e-commerce: The moderating role of online consumer involvement in experiential value,cognitive value,and purchase intention

Background music adds a multisensory element to marketing and e-commerce. Applying interactive sensory-enabling technologies (SETs) to online shopping websites is an area of interest in sensory marketing. This research examines interactive background music in e-commerce and investigates how online consumer involvement moderates the effects of interactive music. Single-factor experiments with three conditions (interactive music, static background music, and control) were conducted to investigate its impact on experiential value, cognitive value, and purchase intention of high- and low-involvement consumers among both students (Study 1, N = 251) and nonstudent samples (Study 2, N = 218). Different music genres were applied to stimuli of the two studies to demonstrate the generalizability of the findings. Results find that interactive music enhances the experiential value of e-commerce for low-involvement consumers. By contrast, high-involvement consumers show greater purchase intention under the interactive music condition due to a heightened level of perceived cognitive value. Involvement is an effective predictor of elaboration and purchase intention under the interactive music condition, but not under the other two conditions. The contribution is twofold: (a) it shows the impact of music as an interactive SET and, (b) demonstrates the moderating role of consumer involvement in the context of multisensory integration in e-commerce. Theoretical and practical implications are discussed along with limitations and directions for future research.     

The pivotal roles of product knowledge and corporate social responsibility in event sponsorship effectiveness

The authors apply consumer theories of cognition to event marketing specifically in relation to corporate sponsorships. Upon conducting field surveys with attendees (n = 1636) at an international sporting event with a multinational sponsor, the authors demonstrate the pivotal roles that 1) attendees' knowledge regarding the sponsor's product, and 2) perception of the sponsor's commitment to corporate social responsibility have on successful event sponsorship. Specifically, structural model results show how attendees' knowledge of the event sponsor's products and perceptions of the sponsor as socially responsible enhance attendees' commitment to the sponsor and intentions to purchase the sponsor's products. These results provide scholars and managers with means of improving event marketing communications.     

Empirical Tests of the Fundamental-Value Hypothesis in Land Markets

The land-price boom of the 1970s followed by the bust of the 1980s generated considerable interest in the determination of land prices and the study of whether those prices reflect fundamental value. In this article, three techniques are used to examine the fundamental-value hypothesis in Iowa and Nebraska agricultural land markets. Duration dependence tests indicate that land markets are not affected by rational expectations bubbles. Conversely, Markov chain and time-reversibility tests suggest that land prices depart from fundamental value due to the existence of nonrandom price changes and asymmetric land price patterns. The results of this research should be viewed as a complement to the existing body of knowledge in our quest to enhance our understanding of agricultural land-price movements.     

The determinants of consumers’ online shopping cart abandonment

Despite placing items in virtual shopping carts, online shoppers frequently abandon them —an issue that perplexes online retailers and has yet to be explained by scholars. Here, we identify key drivers to online cart abandonment and suggest cognitive and behavioral reasons for this non-buyer behavior. We show that the factors influencing consumer online search, consideration, and evaluation play a larger role in cart abandonment than factors at the purchase decision stage. In particular, many customers use online carts for entertainment or as a shopping research and organizational tool, which may induce them to buy at a later session or via another channel. Our framework extends theories of online buyer and non-buyer behavior while revealing new inhibitors to buying in the Internet era. The findings offer scholars a broad explanation of consumer motivations for cart abandonment. For retailers, the authors provide suggestions to improve purchase conversion rates and multi-channel management.