How trust in financial supplier information impacts young adults' financial information involvement: The moderating roles of product savings risk and social norm

Although consumers' risk‐taking, supplier trust, social norms and information involvement are central to much of thought in the financial market and consumer economic literature, it is not known how the interplay between consumers' trust in supplier information, risk‐taking behaviour and social norm may influence information involvement. This research contributes to the consumer economic literature by investigating how product savings risk and social norm affect the relationship between young adults' trust in supplier information and their information involvement. On the basis of two samples with young adults who recently have purchased a low‐risk savings product (n = 641) and a high‐risk savings product (n = 219), respectively, several results are obtained. It is found that both product savings risk and social norm positively moderate the relationship between young adults' trust in supplier information and their information involvement. In addition, the results indicate that the three‐way interaction between trust in supplier information, products savings risk and social norm has a positive effect on information involvement. As direct implications, financial authorities and financial service managers should especially consider investing additional resources in developing information trust for high‐risk savings products and should also take social norms into account when considering young adults' high‐risk‐taking behaviour. Copyright © 2017 John Wiley & Sons, Ltd.     

Antecedents of consumer relative preference for interpersonal information sources in pre‐purchase search

Past research has demonstrated clearly the importance of pre‐purchase information search within the buying process. Scholars have identified several sources used by consumers in order to obtain information relevant to their purchase situation. Among the various information sources, interpersonal non‐commercial sources seem to play an important role in consumers' choice decisions. The present study examines potential antecedents of consumer relative preference for interpersonal information search. The proposed antecedents include personality traits such as individuals' susceptibility to interpersonal influence, their need for cognition and their self‐confidence, as well as individual differences in product knowledge and perceived risk associated with the purchase of a specific product. Using structural equation modelling on survey data (419 respondents), seven hypotheses — describing relationships between the diverse variables of the model — were tested. The results indicate that consumer relative preference for interpersonal information search was significantly influenced by consumers' susceptibility to interpersonal influence, their need for cognition, their self‐confidence and their product knowledge. Consumers' product knowledge also influenced their perceived risk, which did not affect their preference for interpersonal search significantly. Copyright © 2005 John Wiley & Sons, Ltd.     

U.K. consumers' perceived risk of buying products from emerging economies: A moderated mediation model

Although considerable research has been conducted on consumer attitude towards foreign products, most of these studies focus on the attitude of products from Western developed countries. Our study intends to investigate the effects of consumers' national identification and culture sensitivity on their perceived risk of buying products from Eastern developing countries. Especially, this study advances the literature by identifying the mediation effect of consumer ethnocentrism and the moderating effect of consumer value consciousness. Taking China and India as focal emerging economies, the consumer survey (n = 308) in the United Kingdom produced the following results. First, U.K. consumers' national identification is positively related to their perceived risk of buying Eastern products through consumer ethnocentrism, whereas their cultural sensitivity has a negative relationship. Second, the effect of consumer ethnocentrism on the perceived risk of buying Eastern products is moderated by consumer value consciousness. Third, value consciousness also attenuates the indirect relationships between national identification or cultural sensitivity and perceived risk via consumer ethnocentrism.     

Consumer response to interruption features and need for cognitive closure

Prior research on interruptions focuses entirely on the process being interrupted and assumes interruption homogeneity. Across two studies, we examine how heterogeneous features of interruptions (i.e., timing, frequency, and perceived pleasantness) and consumer individual differences (i.e., need for cognitive closure (NFCC)) impact consumer response toward a product. We find interruption features have opposing effects on consumer response for consumers high versus low in NFCC—depending upon the perceived valence of the interruption. Specifically, individuals with high NFCC respond better to a product when interruptions are perceived to be pleasant and occur late or infrequently. In contrast, those who have low NFCC respond better to a product when interruptions are perceived to be pleasant and occur early or perceived to be unpleasant and occur infrequently. The role of interruption pleasantness is discussed in terms of its predictive power for perceived pleasant but not perceived unpleasant interruptions. Finally, study findings are placed within marketing contexts that guide managerial implications. Copyright © 2013 John Wiley & Sons, Ltd.     

Priced just for me: The role of interpersonal attachment style on consumer responses to customized pricing

Customized pricing is an increasing phenomenon in the marketplace, but little is known about factors influencing consumer responses to customized pricing. The present paper seeks to gain an understanding of how, why, and when this emerging pricing mechanism may offer benefits. Specifically, this research focuses on how consumers respond to customized pricing tactics and, more specifically, on how interpersonal attachment orientations impact consumers' responses to prices offered in the presence of a customized pricing program. The results of 3 studies suggest that customized pricing programs likely create an expectation for a discounted price among securely attached individuals, such that these consumers are dissatisfied paying the shelf price in the presence of a customized pricing program. Overall, the results provide evidence that, although customized pricing programs are often used to enhance consumer evaluations, they may not always be effective. This paper advances prior research by integrating important considerations for both pricing and customization strategies based on individual and situational differences in attachment orientations.     

Influences on the perceived risk of purchasing online

This paper examines whether the perceived risk of online purchasing by consumers varies with the frequency of previous purchases, satisfaction with previous purchase experiences, the good/service orientation of an intended purchase and the level of purchase decision involvement required. No association was found between the frequency of online purchasing and perceived risk, although satisfaction with prior internet purchases was negatively associated with the perceived risk of intended purchases, but only for low‐involvement products. Differences in perceived risk were associated with whether the intended purchase was a good or service and whether it was a high or low‐involvement product. Analysis of consumer perceived risks, disaggregated by type of risk and purchase situation, provides insight into impediments that may hinder the expansion of consumer purchasing using the internet. Copyright © 2004 Henry Stewart Publications.     

How does green suit me? Consumers mentally match perceived product attributes with their domain‐specific motives when making green purchase decisions

Nowadays, environment‐friendly products are widely accepted by society. However, market share of sustainable technologies demanding higher investments or behavioral changes is rather small, indicating that consumers seem to generally approve of sustainable products, but rarely perceive them as being compatible with their needs. The present research introduces a model emphasizing the importance of consumers perceiving the product as being suitable to match their motives relevant to the product domain. In investigating a sample of 531 car drivers, the hypothesized model was tested in the realm of a highly relevant sustainable product: electric vehicles (EVs). Findings based on structural equation modeling showed that participants' perceived matching with EV attributes was related to their domain‐specific motives (hedonic, freedom, ecological, and financial motives) and a global preference towards the product. Specific to sustainable products, ecological motives strongly influenced participants' matching processes by positively affecting perceived matching with all product attributes. Participants' purchase intentions, in turn, were strongly affected by their perceived matching of the product with their motives. The added value of the model with respect to self‐image theories and implications for sustainable product marketing are examined through discussion. Copyright © 2014 John Wiley & Sons, Ltd.     

Effects of product portfolios and recommendation timing in the efficiency of personalized recommendation

Personalized recommendation has important implications in raising online shopping efficiency and increasing product sales. There has been wide interest in finding ways to provide more efficient personalized recommendations. Most existing studies focus on how to improve the accuracy and efficiency of the recommendation algorithms or are more concerned on ways to reduce perceived risks and thus increase consumer satisfaction. Unlike these studies, our study begins from the decision‐making process of consumers, using consumers' two‐stage decision‐making system and preference inconsistency theory as a basis, to reveal the mechanisms involved in consumers' acceptance of recommendations. This paper analyzes the effect of personalized recommendations from two angles, recommendation timing and product portfolio, tries to point out differences in consumer preferences between similar products and related products, and verifies that consumers demand diversity in the recommended content. The study analyzes differences in the acceptance of personalized recommendations between practical products and hedonic products and discovers that recommendations of hedonic products are more effective than that of practical products. Based on the research earlier, the study provides suggestions on how to better plan and operate a personalized recommendation system. Copyright © 2016 John Wiley & Sons, Ltd.     

诱导效应的影响机制——产品感知风险的调节作用

为了探究以往消费者受情境诱导的影响程度不同的原因,本研究从产品感知风险的角度阐述诱导效应的作用机制。用2×2的因子设计,检验产品感知风险和诱导情形对目标产品选择概率的交互作用。188名被试的实验结果显示高感知风险产品类型下诱导效应显著,而低感知风险产品类型下诱导效应不显著。进一步分析得出目标产品相对吸引力是诱导情形与目标产品选择概率的关系链中的中介变量,而产品的感知风险是有中介的调节变量的研究结论。     

Motivation and cognitive structures of store versus manufacturer brand consumers

The present paper offers empirical evidence about the impact of the type and characteristics of the brand category (i.e. perceived purchasing risk and involvement) as drivers of store brand choice. The means‐end chains analysis methodology was applied on a sociodemographically homogeneous consumer sample, assigned through a 2 × 2 in‐between subjects design into four subgroups of regular (orange juice or toothpaste) store or manufacturer brand buyers, respectively. The introduction of a store brand fueled motivations and cognitive structures that were predominantly shaped by the specific brand type and its expected perceived benefits (i.e. good quality/price ratios); on the contrary, manufacturer brands allowed room for typical, category‐related motives and cognitive hierarchies to dominate. Moreover, in the case of store brand buyers across categories (orange juice versus toothpaste), different perceived risk and consumer involvement had a clear impact on the structure of overall cognitive map and on the sophistication of its most dominant cognitive area. In situations of high perceived risk and involvement, the cognitive structures of store brand buyers tend to resemble that of manufacturer brand buyers. Results add to the ongoing stream of research on store brand buyer behaviour by offering proof of the impact of consumer perceived risk and category involvement on the choice between manufacturer and store brands. Copyright © 2015 John Wiley & Sons, Ltd.     

自我建构对口碑两极分化产品偏好的影响及作用机制

口碑两极分化的产品, 指那些被许多消费者评价好的同时又被其他许多消费者评价不好的产品。随着个性化消费时代的到来, 满足个性化需求的产品遭受褒贬不一的口碑越来越普遍。当面临口碑两极分化的产品, 消费者如何认知? 哪些因素会影响消费者对口碑两极分化产品的偏好? 其中间机制与边界条件是什么? 回答这些问题对企业有效开展营销具有重要意义。口碑两极分化会提高消费者的购物风险感知, 引发“冲突”联想, 同时还可能使得消费者对目标产品产生感知独特性。这些特征契合了自我建构理论中独立型自我建构与依存型自我建构个体在独特性需求、冲突解决风格与调节定向方面的行为差异, 因而自我建构是影响口碑两极分化产品偏好的重要前因变量, 且独特性需求、冲突解决风格与调节定向是三条中介路径。购物风险水平、购物任务情境、消费场合公开性以及产品类型是以上中介效应的边界条件。     

The influence of an online auction's product price and e-retailer reputation on consumers' perception, attitude, and behavioral intention

Online auctions combine the conventional auction model with information technology. However, information asymmetry within such auctions causes risks and uncertainties that influence consumer purchase intentions. In this study, a 2 (product price: high vs. low) × 2 (e-retailer reputation: high vs. low) experimental design was used to understand whether the product price and e-retailer reputation will influence consumers' perceived risk, attitude toward the website and purchase intention. The results of this study indicate that perceived risk negatively influences consumer attitude toward the website and online purchase intention, while consumer attitude toward the website positively influences purchase intention. Moreover, involvement moderates the influence of product price and e-retailer reputation only on social risk but does not have a significant effect on consumer attitude toward the website. This study contributes to a more comprehensive understanding of online auction users' behavior. Finally, the managerial implications, limitations and future research directions are also provided.     

Perceptions of school psychology services from a staff perspective

This investigation examined how staff in an elementary school district perceived their school psychologists and how these perceptions differed across components of service and staff groups. We developed a School Psychological Service Questionnaire and then analyzed responses from regular education teachers, special education teachers, principals, and school psychologists in an urban school district. Although the findings are numerous, most noteworthy are, first, that consumer groups in the district had different perceptions than school psychologists about how school psychologists allocate their time and how this time should be allocated in the future. Second, consumer perceptions of school psychologists' knowledge generally were favorable. Third, in terms of domains appropriate for involvement by school psychologists, a factor analysis of consumer ratings revealed three relatively clear dimensions of recommended service provision — special education activities, interpersonal or school-climate activities, and administrative responsibilities. Fourth, the helpfulness of school psychologists, as perceived by consumers, related positively to frequency of contact. Fifth, differences in perception of school psychological services were evident across staff groups. Finally, comparisons between master's level and doctoral level school psychologists suggested numerous differences in how the staff perceived these service providers.     

Investigating the relationship between product involvement and consumer decision‐making styles

• Recently, a number of studies have investigated consumer decision‐making styles (CDMS) and their importance to consumer behaviour research. However, research designs suggested to date are mainly replications of a study by Sproles and Kendall ( 1986 ) proposing eight mental characteristics, the so‐called Consumer Styles Inventory (CSI). The CSI has been applied across cultures, but without critically examining its validity and reliability. A major concern is the postulated product independence of CSI. The aim of this study is to further develop this approach, to apply it to different product categories and to investigate the relationship between product involvement and CDMS. In doing so, we conducted a survey in Great Britain and Germany, and analysed the data using exploratory and confirmatory factor analysis. Not only did we demonstrate that there is a relationship between products and CDMS, but also that CDMS are governed by consumers' perceived product involvement. Important implications for marketing practice can be derived.

Copyright © 2006 John Wiley & Sons, Ltd.     

Determinants of the purchase intention of non-fungible token collectibles

Disrupting the concept of ownership in the digital space, non-fungible tokens (NFTs) have created unprecedented market opportunities and captivated millions of investors. Characterized by artificial scarcity and ensured authenticity, the technical implementation establishes novel parameters for digital ownership and collecting, underscoring a research gap where the determinants of consumer behavior are yet to be studied. This paper presents a research model based on the Stimulus-Organism-Response (SOR) model to investigate consumers' purchase intention of NFT-based collectibles (NFTC) for the first time. To develop our model, we identified distinctive NFTC features (functionality, scarcity, aesthetics, and price value) and blockchain characteristics (security and privacy) affecting the utilitarian and hedonic attitude towards NFTC and finally shape NFTC purchase intention. For empirical validation, we conducted an online survey among an NFT-interested target group (N = 356) and analyzed the results by structural equation modeling with SPSS Amos. Findings indicate that the utilitarian attitude toward NFTC is affected by perceived functionality and price value from the product side, and perceived blockchain security and privacy from the technology side. The hedonistic attitude toward NFTC is shaped by perceived functionality, scarcity, and aesthetics. Both attitudes, utilitarian and hedonistic, demonstrate a significant impact on purchase intention. A subsequent mediation analysis confirms that NFTC and blockchain characteristics have an indirect effect on purchase intention. In the under-investigated interface of blockchain technology, digital ownership, and consumer behavior, this work enriches the digital ownership discourse by demonstrating how NFTC create consumer value through product and technology features.     

消费心理学中的风险认知

文章回顾了消费心理学研究中有关风险认知的文献,对于双因素模型、多维度模型、复杂模型和整合模型等风险认知的概念模型进行了综合介绍,并分析了影响消费者风险认知的因素、产品风险与服务风险的差异以及降低风险认知的策略。文章最后展望了消费者风险认知的研究趋势,尤其是电子商务中的风险认知问题。     

When consumers own their work: Psychological ownership and consumer citizenship on crowdsourcing platforms

The growth of crowdsourced platforms for consumer products has opened many interesting research questions on the impact of consumers participating in such crowdsourced work. In this paper, we focus on consumers' psychological ownership of the crowdsourced product and the role it plays in the relationship between consumer work and consumer citizenship. Further, drawing on social comparison theory, we show that consumers' perceived amount of work relative to others is a boundary condition for this explanation. Finally, we examine the theoretical contributions and managerial implications of our findings.     

The effect of product type on value linkages in the means‐end chain: implications for theory and method

Means‐end chain (MEC) theory proposes that consumer motivation can only be understood in terms of the hierarchical linkages between attributes, consequences and values. Other researchers have suggested a much more immediate impact of values on motivation. Seeking to explain these conflicting views, this research suggests and empirically tests the proposition that the role of values in consumer motivation differs by product type and also tests that the linkages are not affected by individual differences in the need for cognition. A sample of 191 consumers indicated their motivation to consume utilitarian and non‐utilitarian products using an adapted association pattern matrix technique. Responses were analysed using mixed‐design ANOVAs with planned comparisons. Results indicate significant differences related to product type in the role of values in consumer motivation. Limitations, implications for MEC theory and future research are discussed. Copyright © 2004 Henry Stewart Publications Ltd.     

Characteristics of college students who text while driving: Do their perceptions of a significant other influence their decisions?

IntroductionTexting while driving is a significant risk factor for automobile collisions. The use of cell phones is prevalent among young people and commonly reported when they drive.MethodA web-based survey of 861 college student drivers determined how texting was associated with other forms of risky driving, perceptions of risk, and their driving and texting interactions with a significant other.ResultsTexting drivers were more likely to engage in other risky driving behaviors, perceived less risk in texting and driving, felt more immune to traffic risks, and had friends who text and drive. Logistic regression analyses showed that even after adjusting for risky driving behaviors and perceived risk, texting drivers were significantly more likely to do so if they saw their significant other text and drive.ConclusionsTraffic safety campaigns need to address important social influences on this behavior.     

On-road trust and perceived risk in Level 2 automation

To encourage appropriate use of driving automation, we need to understand and monitor driver’s trust and risk perception. We examined (1) how trust and perceived risk are affected by automation, driving conditions and experience and (2) how well perceived risk can be inferred from behaviour and physiology at three levels: over traffic conditions, aggregated risk events, and individual risk events.30 users with and without automation experience drove a Toyota Corolla with driving support. Safety attitude, subjective ratings, behaviour and physiology were examined.Driving support encouraged a positive safety attitude and active driver involvement. It reduced latent hazards while maintaining saliently perceived risks. Drivers frequently overruled lane centring (3.1 times/minute) and kept their feet on or above the pedals using ACC (65.8% of time). They comfortably used support on curvy motorways and monotonic and congested highways but less in unstable traffic and on roundabouts. They trusted the automation 65.4%, perceived 36.0% risk, acknowledged the need to monitor and would not engage in more secondary tasks than during manual driving.Trust-in situation reduced 2.0% when using automation. It was 8.2% higher than trust-in-automation, presumably due to driver self-confidence. Driving conditions or conflicts between driver and automation did not affect trust-in-automation.At the traffic condition level, physiology showed weak and partially counter-intuitive effects. For aggregated risk events, skin conductance had the clearest response but was discernible from baseline in  < 50%. Pupil dilation and heart rate only increased with strong braking and active lane departure assist. For individual risk events, a CNN classifier could not identify risk events from physiology. We conclude that GSR, heart rate and pupil dilation respond to perceived risk, but lack specificity to monitor it on individual events.