Brand effect on extended warranty valuation: Subjective value versus popularity |
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| Institution: | 1. Faculty of Business Administration and Centre for Cognitive and Brain Sciences, University of Macau, Taipa, Macau;2. Department of Marketing, Hong Kong University of Science and Technology, Clearwater Bay, Hong Kong;1. Signal Companies’ Professor of Management, Professor of Marketing, 100 Tuck Hall, Tuck School of Business at Dartmouth, Dartmouth College, Hanover, NH 03755, United States;2. Dwight F. Benton Professor of Marketing, R6354 Ross School of Business, University of Michigan, 701 Tappan Street, Ann Arbor, MI 48109, United States;3. David B. Hermelin Professor of Business Administration, Professor of Finance, R5434 Ross School of Business, University of Michigan, 701 Tappan Street, Ann Arbor, MI 48109, United States;4. Professor of Marketing, College of Business, California State University, Long Beach, 1250 Bellflower Boulevard, Long Beach, CA 90840, United States;1. Department of Industrial Engineering, University of Chile, Beauchef 851, Santiago, Chile;2. Columbia Business School, 3022 Broadway, New York, NY 10027, United States;3. Retail Management Institute at the Leavey School of Business at Santa Clara University, 500 El Camino Real, Santa Clara, CA 95053, United States;1. Department of Economics and Management, University of Parma, Italy;2. Department of Marketing, Faculty of Economics and Business, University of Groningen, the Netherlands;1. UBC Sauder School of Business, University of British Columbia, Canada;2. Faculty of Business, Hong Kong Polytechnic University, China;3. Beedie School of Business, Simon Fraser University, Canada;1. University of Bochum, Sales Management Department, Universitätsstraße 150, 44801 Bochum, Germany;2. Vodafone GmbH, Ferdinand-Braun-Platz 1, 40549 Düsseldorf, Germany;3. jetlite GmbH, Hein-Saß-Weg 22, 21129 Hamburg, Germany;1. Department of Marketing, WU Vienna University of Economics and Business, Welthandelsplatz 1, A-1020 Vienna, Austria;2. MOSTLY AI Solutions, Hegelgasse 21/3, A-1010 Vienna, Austria |
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| Abstract: | In five experiments, we explore the effect of brands on warranty valuation and the conditions under which two mechanisms – liking based and availability based – determine the effect. We explore the moderating role of focused deliberation, which accentuates the brand effect under availability mechanism but reduces the effect under subjective value-based mechanism. In Experiment 1, we consider brands that vary in terms of both subjective value and popularity. When a brand is better in both subjective value and popularity, it commands higher warranty WTP. Focused deliberation moderates this effect of brand on warranty valuation. In Experiment 2, we consider brands that vary only in terms of subjective values (but not popularity). While the warranty valuation of the two brands does not differ under no deliberation, deliberation decreases WTP for brands with higher subjective value. In Experiment 3, we consider brands that differ only in terms of popularity (and not subjective value). In this context, deliberation increases warranty WTP for the more popular brand. Experiments 2A and 3A use warranty choice as the dependent variable and conceptually replicate the effects obtained in experiments 2 and 3, respectively. |
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| Keywords: | Extended warranty Brand Subjective value Availability Deliberation |
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