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Product classifications,consumer characteristics,and patronage preference for online auction
Authors:Pradeep Korgaonkar  Enrique Becerra  Bay O’Leary  Deborah Goldring
Institution:1. University of New Mexico, United States;2. University of Wisconsin La Crosse, United States;3. University of Texas at Brownsville, United States;4. Xiamen University, China
Abstract:An important unanswered question in the area of Internet auctions is what dynamics influences consumer preferences for shopping on these online auctions. Two key aspects of studying what sells on the Internet auctions are (a) the characteristics of products to be purchased and (b) consumer characteristics. This research focuses on the relationship between product purchase preference, prior experience, and socioeconomic characteristics for the online auction participants. It uses product classification theory rooted in information economics and marketing. The study results are based on a US national sample of online auction participants. The findings suggest that product class affects online auction patronage, yet socioeconomic characteristics may not be as influential as once perceived. The online merchants can benefit from the inquiry to improve auctions for search, experience, and credence goods. The five key contributions of the findings add value to the theory and practice of consumer behavior.
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