How does perceived firm innovativeness affect the consumer?

We present a broad-based, consumer-centric view of innovation—referred to as “perceived firm innovativeness” (PFI). PFI is conceptualized as the consumer's perception of an enduring firm capability that results in novel, creative, and impactful ideas and solutions. We develop and validate a PFI scale and show that PFI impacts consumer loyalty via two processing routes: a functional-cognitive route and an affective-experiential route. Our results indicate that a firm needs to consider consumer perceptions of the firm as a whole, and not just new products and technologies, and take into account a functional-cognitive perspective as well as consumer emotions and experiences.     

Why Doesn't the Black‐‐Scholes Model Fit Japanese Warrants and Convertible Bonds?

In this paper, we investigate the systematic departures of traded prices of Japanese equity warrants and convertible bonds from their theoretical Black–Scholes values. We briefly consider transactions costs and the dilution adjustment as potential explanations of the discrepancy. However, our major focus is on shifts in volatility of the prices of the underlying stocks as a function of the stock price changes; such shifts are not taken into account in the Black–Scholes values. We assume that the pseudo‐probability distributions of prices of stocks of cross‐sections of companies which are roughly similar in size are identical. This simple assumption, which can be generalized, enables us to infer the implied probability distribution and binomial tree for stock price changes using the Derman and Kani (1994), Rubinstein (1994) and Shimko (1993) approach. The cross‐section of warrant prices implies an inverse volatility smile and a positively skewed probability density for stock prices. Rubinstein's identifying assumptions generate an implied binomial tree in which the relative size of up‐steps and down‐steps, and thus volatility, changes systematically as stock prices change. We briefly consider potential explanations for the implied behaviour, and for the difference in the smile pattern between index options and the warrants and convertibles.     

Investigating the consumer–environment interaction through image modelling technologies

Abstract

This study uses an innovative research tool to evaluate the hypothesis of a consumer–environment interaction. A new computer graphics methodology keeps track of the time spent and the number of purchases made during shopping, together with several other behavioural measures. A laboratory experiment uncovered an interaction effect in dwell time and number of purchases between the type of shopping trip (fill-in trip vs. major trip) and the consumers' layout preference. Shoppers taking major trips were more prone to shop in a free-form layout, whereas those taking fill-in trips tended to prefer a grid layout. The article discusses implications for research and practice, identifying areas for future research.     

Why do not you read the label? – an integrated framework of consumer label information search

This article facilitates deeper insight into label‐related consumer information acquisition behaviour. An integrated framework of label information search (LIS) has been developed based on a synthesis of related literature and explorative research conducted by analysing online discussions among customers (netnography). The framework focuses on three main groups of personal factors that serve as antecedents of LIS: general personal factors (e.g. health consciousness and socio‐demographics), label‐related personal factors (e.g. label‐related self‐efficacy, trust in labels and the perceived usefulness of labels) and product category‐related personal factors (trust in food products, enduring involvement, experience and perceived quality differences). Important characteristics of the framework are its process‐oriented nature and the dynamically changing relationships among its concepts. LIS is an antecedent to and a consequence of influencing factors. This article offers managerial implications and serves to incite future inquiry in this field.     

The ecological conscious consumer behaviour: are the activists different?

In recent decades, concern about the environment has been increasing. Many individuals are now more worried about their purchasing behaviour and the consequences their actions could have for the environment. Managers are becoming more committed to responding to individual needs and desires in a responsible way, taking into account possible environmental damage. Previous studies concentrated more on explaining this phenomenon through demographic variables, but the trend now is towards explaining this through psychographic and environmental variables, which have already been shown to be the most significant in this context. This study sought to establish the relationship between activists and ecologically conscious consumer behaviour (ECCB) by analyzing the profile of green consumers (i.e. demographic and psychographic variables). To reach this objective, an online survey was conducted. The results of data analyses support the conclusion that activism is the strongest predictor of ECCB.     

Lost in translation: Exploring the ethical consumer intention–behavior gap

Ethical consumerism is a burgeoning movement, yet ethically-minded consumers rarely purchase ethically. Understanding obstacles to ethical consumption is limited. This study explores the underlying mechanics of the ethical purchase intention–behavior gap in the context of consumers' daily lives. The study employs multiple qualitative methods across multiple sites, explores the intention–behavior gap in observed modes of shopping behavior, and uses an interpretive approach. The analysis reveals four interrelated factors affecting the ethical intention–behavior gap: (1) prioritization of ethical concerns; (2) formation of plans/habits; (3) willingness to commit and sacrifice; and (4) modes of shopping behavior. Awareness of these four factors provides both strategic and tactical implications for marketing managers seeking to reach the elusive ethical consumer. Understanding and enhancing ethical consumption – closing the gap – has positive outcomes for the future sustainability of economies, societies and environments.     

The response of the ‘new consumer’ to promotion in the transition economies of the former Soviet Bloc

Before the collapse of communism, promotion in the former Soviet Bloc functioned more as either propaganda or generic information rather than what marketers would call marketing. Today’s “new consumer” in these transition economies, however, is being forced to integrate Western-style promotion with traditional suspicion of marketing, all in systems that have transitioned more in some countries of the region than others. What does this mean for the multinational marketer? What old and new characteristics of the consumers in that region will force marketers to adapt their approach to promotion? Through research propositions this conceptual paper explores major themes of consumer behavior specific to the transitioning economies of the area, proposing, rather than answering, the right questions marketers need to ask about new target markets. For managers, the article offers implications and recommendations derived from these questions.     

Defying Distance? Cross‐Border Acquisitions by Emerging‐Economy Firms

We argue that emerging‐economy firms’ international location choices are driven by the pursuit of dynamic efficiency rather than the immediate minimization of transaction and learning costs, and hence the relationship between country distance and the number of cross‐border acquisitions will be less negative for these firms relative to advanced‐economy firms. We then test the hypothesis with respect to four measures of country distance—geographic, economic, cultural, and institutional—and find support for the hypothesis. Our study provides empirical support for claims in the literature about differences in the international expansion behavior of emerging‐economy firms with respect to location. In addition, our study makes a theoretical contribution by showing that the theoretical perspective of dynamic efficiency can explain the difference in the location choices for cross‐border acquisitions by emerging‐economy firms relative to those by advanced‐economy firms. © 2016 Wiley Periodicals, Inc..     

Preference for green packaging in consumer product choices – Do consumers care?

In this paper, consumer environmental choice is studied by analysing the relative importance of green packaging when compared with other relevant product attributes. The empirical study is based on a choice‐based conjoint analysis of preferences for functional drink products of a sample of 330 consumers using these products. Our choice‐based approach on environmental behaviour brings new insights to previous research, which predominantly relies on attitude models. Results indicate that consumers differ in their preferences for packaging, brand, price and convenience of use of daily products. In addition, various distinctive consumer segments can be identified on the market. Contrary to several previous studies, we found that the largest consumer segment, one‐third of consumers, favoured environmentally labelled packaging as the most important criteria in their choice. The findings emphasize the increasing importance of ethical and environmental dimension in product choices. We also propose that the attention in environmental consumer research should be shifted from general attitude studies towards the study of actual product choices.     

Facebook fan page: the effect of perceived socialness in consumer–brand communication

Facebook has become an important platform for a brand–consumer relationship channel. The current study investigates the influence of perceived socialness and its effect on consumers’ attitude toward brands. Participants (N = 404) were recruited in a large southeast university. A 2 (socialness: high vs. low)?×?2 (feedback control: high vs. low)?×?2 (brand image: high vs. low) between-subject design was conducted. The results of this study identified three important findings. First, high (vs. low) socialness elicited higher perceived relationship commitment, brand trust, and more favorable brand attitude. Second, the effect of socialness on brand attitude was moderated by brand image (positive vs. negative). Third, the mediation analysis showed that the effect of socialness (high vs. low) on brand attitude was fully mediated by perceived relationship commitment and brand trust.     

Applying transaction utility theory to sales promotion – the impact of culture on consumer satisfaction

Customer satisfaction is known to have a positive impact on market share and satisfaction levels may be moderated by factors such as price sensitivity and perceived value. Transaction utility theory tells us that consumers make overall cognitive judgements about a price-based promotion after the experience, driving their intention to repeat the process in the future. Studies do show a link between unexpected product promotions and increased cognitive processing of satisfaction and pleasure, and other studies highlight the relationship between consumption satisfaction and culture. However, few studies consider links between culture and acquisition and transaction utility. This study examines the impact of culture on satisfaction and pleasure with, and resultant preference for, price-based sales promotion in two culturally dissimilar consumer markets, New Zealand and China. The study finds that, while transaction utility theory is supported in the collectivist market of China, it is not in the individualist market of New Zealand, suggesting a need for further investigation cross-culturally.     

Are they playing by the same rules? A consumer gifting classification of marital dyads

This article sets out a research program that examines the dynamics of gifting behavior of long-term committed dyadic relationships—married couples. Our research considers the findings of a study in which the reported gifting behavior of couples reveals two gifting rulebooks; the first rulebook consisting of a set of symbolic communication rules, and a second rulebook consisting of economic exchange rules. Most importantly, we develop a consumer gifting classification of marital dyads. Finally suggestions are offered for future research and implications are drawn for marketing strategy.     

Does Vanity Describe Other Cultures? A Cross‐Cultural Examination of the Vanity Scale

Vanity is a psychological construct that describes a person's excessive concern with physical appearance or achievement. A scale, recently developed to measure this construct, has been psychometrically validated using data from U.S. respondents. The goal of this paper is to determine if this scale can be used cross‐culturally. If the scale has cross‐cultural applicability, it can be used as a counseling device to guide and alert individuals to certain tendencies. The scale also can be used to track foreign cultures as they adopt a consumerism ethos more aligned to Western consumer culture. Based on data from 475 young adults in China, India, New Zealand, and the U.S., the scale was found to have similar dimensionality and factor structure, internal consistency, discriminant validity, and metric invariance. Implications and future directions for research are discussed.     

What is going on when nothing is going on? Exploring the role of the consumer in shaping waiting situations

Research on waiting in services focuses mainly on the role of companies in waiting situations. Much of the existing research envisages the consumer as a passive victim of the delays caused by companies. This article redresses the imbalance in research on waiting by exploring the role of consumers in waiting situations. A qualitative methodology is used, involving data collection through in‐depth interviews and personal diaries, to facilitate an in‐depth analysis of consumers’ waiting experiences. Additionally, a holistic approach is employed with a view to examining the ‘whole’ waiting experience rather than individual or isolated aspects of waiting. The main finding of the study is that consumers play an active and deliberate role in waiting situations. This is the first study to empirically identify the behaviours and initiatives undertaken by consumers when forced to wait for services. The results suggest that consumers play an active role in organising and reducing the real or perceived waiting time. They actively seek information on the length and causes of the wait. And, on occasions, the consumer may also be the cause of the wait or may even increase the delay by their actions. In contrast to most of the existing research on the topic of waiting, this study adopt a qualitative, in‐depth approach, with a multicultural sample, and a focus on the consumer whose role in waiting has previously been overlooked.     

Internet and consumer privacy: Considering the FTC’s “do not track” proposal

The digital economy relies on the collection of personal data on an ever-increasing scale. Regulations have to be found which can provide an optimal balance between consumers’ interest in privacy and the benefits from innovations that rely on the largely invisible collection, retention and sharing of consumer data. The following article discusses current US reform proposals and their relevance for the ongoing debate in Europe.     

“Reading” whiteness in consumer research

The concept of whiteness has been widely debated in the social sciences and humanities but has rarely surfaced as a theme in consumer research. This paper introduces whiteness theory as an additional theoretical perspective available to consumer researchers to add to those that are well established. The empirical section of the paper comprises a textual analysis of articles published in the Journal of Consumer Research from 1974–2004. The findings suggest that consumer research is dominated by “white faces” and “white spaces,” resulting in many investigators consciously or unconsciously performing whiteness. The ways whiteness can be re‐articulated to stimulate more interest within consumer research are discussed.     

Who is behind the sustainable purchase? The sustainable consumer profile in grocery shopping in Spain

Studies of sustainable consumer profiles are mainly label‐specific and focus on Organic or Fair Trade labels. As a result, when the sustainable consumer is defined, there is a sense that only one profile exists. If each label has a different positioning strategy and has different requirements, the buyers of these products may also be different. Through the use of consumer panel data, this paper aims to deepen the understanding of the household demographic profiles of consumers of sustainable brands in order to discover if there is a single sustainable consumer profile or whether there is diversity associated with different labels. This study reveals profile differences and these provide better understanding of the complexities of sustainable consumption. It reveals that the profiles of sustainable buyers are not the same across all labels and this should be taken into account by awarding institutions when designing and evaluating their positioning strategies.