Price Value Consciousness Research Articles

Gender-based differences in consumer decision-making styles: implications for marketers

Gender-based segmentation is frequently used by marketers to cater to different needs and preferences of men and women. However, the literature in consumer behaviour has not explored enough the role of gender in decision-making. Specifically, there are hardly any studies that investigate the decision-making styles of Indian male and female consumers. Based on gender and sociocultural theories, this study develops and tests hypotheses on gender-based differences in decision-making styles, including hedonism, novelty consciousness, price value consciousness and brand loyalty orientation. Analysis of data obtained from 355 male and 203 female students through self-administered questionnaire indicates that women score higher than men on hedonism, novelty orientation and price value consciousness. No significant difference was found on the dimension of brand loyalty. The study contributes to the consumer behaviour research by highlighting the differences in decision-making styles of Indian millennial men and women. The results can help marketers to employ gender-based segmentation and target more effectively. The study provides insights that firms can use in framing product, pricing and communication strategies catering to the requirements of a specific gender.

A materialistic perspective of consumer decision-making styles

PurposeMaterialism has become a topic of increasing interest to researchers and policymakers because it can influence consumer behavior. However, a clear picture of how this phenomenon impacts consumers has proven to be elusive. Using an integrated framework, this paper aims to derive hypotheses from theoretical concepts of materialism and consumer decision-making styles and uses a survey of 1,216 respondents in India to test the hypotheses.Design/methodology/approachThe present study is the first of its kind to test the impact of materialist values on consumer decision-making styles among a sample of 13-18 years old school children. The constructs are validated through a first- and second-order confirmatory factor analysis and an integrated second-order structural model is developed.FindingsThis study finds that materialism is a positive predictor of “recreation/ hedonistic”,; “confused by over-choice”; “brand consciousness”; “perfectionistic high-quality consciousness”; and “habitual brand loyal” style of consumers. Further, materialism has a negative impact on “price value consciousness” of consumers. These findings have important implications for theory and practice.Research limitations/implicationsThis study is restricted to school children in the National Capital Region and hence cannot be generalized to the whole young population in India.Originality/valueConceptualizing both materialism and consumer decision-making styles as second-order constructs, this is a maiden study that examines the impact of materialistic values on the consumer decision-making styles of young consumers.

Persónuleiki kvenna og ákvörðunarstíll við kaup

Talið er ákjósanlegt að nýta sálfræðibreytur, sér í lagi persónuleika, við skilgreiningu á markhópum þar sem persónuleiki er talinn spá fyrir um kauphegðun. Til að unnt sé að hanna markaðssamskipti og annað markaðsstarf sem best að markhópnum er mikilvægt að afla sér þekkingar um hvernig hópurinn er líklegur til að taka ákvarðanir um kaup, en slíkar ákvarðanir geta verið ólíkar eftir því um hvers konar vörur eða þjónustu er að ræða. Markmið rannsóknarinnar var að kanna tengsl persónuleikaþátta kvenna og kaupákvörðunarstíls þeirra þegar kemur að förðunarvörum. Í samræmi við fyrri rannsóknir var persónuleika skipt í fimm þætti; úthverfu, samvinnuþýði, samviskusemi, taugaveiklun og víðsýni, og kaupákvörðunarstíl í fjóra þætti; tryggð gagnvart vörumerkjum og verslunum, hvatvísi, áherslu á verð og virði og áherslu á fjölbreytni. Í gegnum rafrænt hentugleikaúrtak fengust svör frá 1700 konum við spurningum sem snéru annars vegar að persónuleika þeirra og hins vegar kaupákvörðunarstíl. Niðurstöðurnar sýndu að persónuleiki spáir fyrir um kaupákvörðunarstíl þegar kemur að kaupum á förðunarvörum en mestur reyndist skýringarmáttur persónuleika vera á hvatvísan kaupákvörðanastíl. Konur sem mælast hátt á úthverfu og eru því félagslyndar og tilbúnar að taka áhættu eru líklegar til að sýna vörumerkjum og verslunum tryggð en þær hafa jafnframt tilhneigingu til að sýna hvatvísi við kaupin. Konur sem mælast hátt á samvinnuþýði eða samviskusemi eru hins vegar ólíklegar til að sýna hvatvísi við kaupákvarðanir á meðan þær sem mælast háar á taugaveiklun eru líklegar til að taka hvatvísar kaupákvarðanir þegar kemur að förðunarvörum. Víðsýnar konur eru opnar fyrir fjölbreytni, leggja áherslu á samband verðs og virðis ásamt því að sýna vörumerkjum og verslunum tryggð. Niðurstöður rannsóknarinnar veita snyrtivörufyrirtækjum verðmætar upplýsingar um líklegan kaupákvörðunarstíl markhópa sinna, hafi þau skilgreint hópana byggða á persónuleikaþáttum. Niðurstöðurnar geta þó einnig gefið fyrirtækjum sem ekki hafa skilgreint markhópa sína eftir persónuleika, gagnlegar upplýsingar um einkenni tiltekinna persónuleikaþátta í samhengi við líklegan kaupákvörðunarstíl.

Testing the concepts of market mavenism and opinion leadership in China

Purpose – Market mavenism and opinion leadership are two important consumer influential concepts in marketing communication literature. The purpose of this paper is to explore two overarching research questions. First, can we separate market mavenism from opinion leadership in China? The answer to this question would solve an important issue of targeting in marketing communication. Second, if market mavenism is indeed distinctive from opinion leadership, are market mavenism and opinion leadership determined by same or different factors in China? The answer of this question would help determine how to reach each type of consumer influential and add knowledge to market segmentation. Design/methodology/approach – An online survey was conducted to test the hypotheses. In total, 316 Chinese respondents completed this survey. Findings – The results were illuminating: market mavenism and opinion leadership were indeed distinctive yet related concepts in China. Monochronicity, altruism, price-value consciousness, and income significantly influenced market mavenism after controlling for all other variables while monochronicity, price-value consciousness, and age significantly predicted opinion leadership after controlling for all other variables. Research limitations/implications – This study provides a richer picture of market mavenism and opinion leadership in the Chinese market. Originality/value – This study helps scholars and professionals efficiently and effectively reach each type of consumer influential.

U.S. Consumers' Motivations for Purchasing and Not Purchasing Fashion Counterfeit Goods

This study explores U.S. consumers` perceptions about faction counterfeit goods and counterfeiting and motivations for purchasing and not purchasing those goods. A qualitative research technique utilizing self-administered essay questions was used to collect data. A convenience sample of female college students(N= 128.) drawn from classes at Midwestern and Southern universities in the US. participated in this study. This study found that a majority of consumers tended to perceive that fashion counterfeit goods are merely imitations of the legitimate goods and that counterfeiting is producing and selling fake goods, but a small number of consumers associated those goods with illegally produced goods and illegal practices or violations of intellectual property rights. The major motivations for purchasing counterfeit fashion goods were found to be price value consciousness, appearance of counterfeit goods, status consumption, availability of the goods, desire for souvenirs, and social(family and peer) influences. In addition, the major deterrents to purchasing these goods were identified as integrity/ethical judgment. poor quality of counterfeit goods, self-image/status, and unavailability of the goods. This study provides policy makers and anti-counterfeit Coalitions with information to develop effective educational programs or campaigns to influence consumers` counterfeit fashion purchasing behavior.

German Consumer Decision‐Making Styles

The lack of previous relevant consumer research in Germany, together with the need to test the generalizability of consumer decision‐making styles in different countries and with non‐student samples, prompted an investigation of German shoppers. The original U.S. eight‐factor model could not be confirmed completely, but support was found for six factors: Brand Consciousness, Perfectionism, Recreational/Hedonism, Confused by Overchoice, Impulsiveness, and Novelty‐Fashion Consciousness. Variety Seeking was novel to Germany and replaced brand loyalty and price‐value consciousness factors found in previous countries. Explanations for the differences are discussed as well as the marketing implications.

The Mannmaven: an agent for diffusing market information

With the growing competition and complexity of marketing information,interpersonal communication is becoming increasingly important to marketers and consumers (mavens) who can act as disseminators of marketing communications and play an important role. Previous research, which has found that mavens are more likely to be female, has ignored the way in which these consumer communicators make decisions and process information. As male product markets grow and gender roles in shopping become blurred, identifying male mavens could be a useful promotional tool. Sixty male and 78 female market mavens were identified from a survey of 455 German consumers, which differed only marginally in terms of age and education. The prime decision-making traits of male mavens differed from females and were related to brand consciousness, shopping avoidance/satisficing, impulsiveness, speedy fashion seeking, perfectionism, price–value consciousness, confused by overchoice and quality brand loyal. Implications and recommendations for marketers targeting male product markets in Germany are discussed.