Advancing Non-compensatory Choice Models in Marketing

Aribarg, Anocha; Otter, Thomas; Zantedeschi, Daniel; Allenby, Greg M.; Bentley, Taylor; Curry, David J.; Dotson, Marc; Henderson, Ty; Honka, Elisabeth; Kohli, Rajeev; Jedidi, Kamel; Seiler, Stephan; Wang, Xin

doi:10.1007/s40547-017-0072-0

Cited by 20 publications

(12 citation statements)

References 67 publications

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“…This methodological subsection is particularly useful when a product or event is infrequently or not observed. These methods have been widely applied in studies of psychology and social behavior (35,36), public health (37,38), economics (39,40), marketing (41,42), environmental valuation (11), and transportation (43,44).…”

Section: Stated Choice Experimentsmentioning

confidence: 99%

Consumer Reactions to E. Coli and Antibiotic Residue Recalls: Utility Maximization vs. Regret Minimization

Dennis¹,

Ajewole²,

Bergtold³

et al. 2020

Front. Vet. Sci.

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Food safety remains a major issue to many consumers. Previous studies examining the economic impact of food safety recalls have focused on Class I recalls. Antibiotic residue in meat products, a Class II recall, has increased in consumer importance yet little is known about how much research and development expenditure should be allocated to reduce antibiotic residue pre-and post-harvest. This study compares demand elasticities and the decrease in willingness to pay in response to either an E. coli (Class I) or antibiotic residue (Class II) recall. We compare and contrast two competing behavioral frameworks, Random Utility and Regret Minimizing. Modeling behavior using the random regret framework is found to be more powerful for assessing consumer responses. In addition, we explore if different groups of consumers exist that either maximize utility or minimize regret. Consumer devaluations of E. coli (Class I) are 40-65% larger than antibiotic residue (Class II). Approximately 60% of consumers are identified as regret minimizers and 40% were identified as utility maximizers. While industry response and government policy recommendations differed conditional on modeling framework, the regret minimizing framework required smaller price discounts than regret minimizing to maintain the same level of market share.

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Section: Stated Choice Experimentsmentioning

confidence: 99%

Consumer Reactions to E. Coli and Antibiotic Residue Recalls: Utility Maximization vs. Regret Minimization

Dennis¹,

Ajewole²,

Bergtold³

et al. 2020

Front. Vet. Sci.

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show abstract

“…In such circumstances, the situational approach is particularly important, so the producer needs to know and understand the specifics of his target audience at any given time. [4] In economically developed countries, most consumers have equal access to the same set of goods and services. [5] Personification is possible only through the formation of a unique combination for the individual.…”

Section: Methodsmentioning

confidence: 99%

The role of the concept of corporate social responsibility in promoting goods and services in the economically developed countries

Андриянова

Кручинина

2020

SHS Web of Conf.

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As companies lost their reputation amid ethical scandals, socio- ethical marketing as well as social responsibility concept, became vital components and a fundamental difference of successful companies. This shift towards socially responsible marketing is indicative of shifting the focus from production and goods/services to the consumer and his philosophy of life, as well as to social ethics. However, with the changing environment especially in digitization encompassing all spheres of society, companies also have to improve their marketing tools including marketing communications as a key factor in the formation of the socially oriented relationships between manufacturer and consumer.

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“…But this is just the way it looks [3]. A more detailed analysis reveals that digital marketing contributes to a qualitative change in manufacturers and consumers' relationship [4]. This is particularly evident in the economically developed countries' markets, which have a high quality of life, human development, and digital marketing.…”

Section: Message Generation and Its Transmission To The Addresseementioning

confidence: 99%

The Role of Digital Marketing in Creating an Information System Conducive to Social Development

Андриянова¹,

Кручинина²

2021

Advances in Social Science, Education and Humanities Research

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Digital marketing tools and technologies are an integral part of all spheres of life in the modern world. In economically developed countries, digital technologies are a tool for influencing both manufacturers of goods and services and consumers. This article discusses the impact of digital marketing tools on production processes, the company's performance and public processes. One of the critical changes that digital marketing has brought is scaling up and strengthening information exchange between consumer and manufacturer and involving manufacturers in solving the most pressing social issues.

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Advancing Non-compensatory Choice Models in Marketing

Cited by 20 publications

References 67 publications

Consumer Reactions to E. Coli and Antibiotic Residue Recalls: Utility Maximization vs. Regret Minimization

Consumer Reactions to E. Coli and Antibiotic Residue Recalls: Utility Maximization vs. Regret Minimization

The role of the concept of corporate social responsibility in promoting goods and services in the economically developed countries

The Role of Digital Marketing in Creating an Information System Conducive to Social Development

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