Consumer knowledge measures as predictors in product evaluation

Cordell, Victor V.

doi:10.1002/(sici)1520-6793(199705)14:3<241::aid-mar3>3.0.co;2-b

Cited by 125 publications

(98 citation statements)

References 31 publications

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“…Tables 2 and 3 about here ___________________________ Further, to test the postulates that an individual's performance-and preference-related uncertainty are positively related to his/her reservation price range, we developed measures of performance-and preference-based uncertainty as follows (see Table 3 for details). The six items were drawn from Urbany, Dickson, and Wilk ie (1989) and Cordell (1997). Principal components analysis followed by Varimax rotation suggested two factors, corresponding to performance-and preference-related uncertainty, with reasonably strong convergent and discriminant validity.…”

Section: Resultsmentioning

confidence: 99%

Reservation Price as a Range: An Incentive-Compatible Measurement Approach

Wang

Venkatesh²,

Chatterjee³

2007

Journal of Marketing Research

128

110

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Drawing on the literature on buyers' uncertainty in preference and product knowledge, the authors make, and empirically test, the proposition that an individual consumer's reservation price for a product is more meaningfully and accurately represented as a range than as a single point. Given this conceptualization, they propose an approach for incentive compatible elicitation of an individual's reservation price range (ICERANGE) that builds on the Becker, DeGroot, and Marschak (BDM, 1964) point-of-purchase method. Two empirical applications of the approach provide an assessment of its practicality and its predictive performance relative to current methodologies for reservation price elicitation. Results demonstrate that the proposed method significantly outperforms the benchmark approaches in terms of predictive validity, while yielding valuable incremental information about uncertainty in product valuation.

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Section: Resultsmentioning

confidence: 99%

Reservation Price as a Range: An Incentive-Compatible Measurement Approach

Wang

Venkatesh²,

Chatterjee³

2007

Journal of Marketing Research

128

110

View full text Add to dashboard Cite

show abstract

“…In addition, the moderator effect of subjective knowledge on its consequences is difficult to isolate with the ones of other constructs which it relates, such as accessibility or certainty because both subjective knowledge and these related constructs are all consequences of objective knowledge (Smith et al, 2008). Thus, in this study, consumer knowledge as a moderator is defined as objective evaluations about the familiarity and expertise that the person has with a product category (Alba and Hutchison, 1987;Cordell, 1997;Klerch and Sweeney, 2007).…”

Section: Consumer Knowledgementioning

confidence: 99%

“…Knowledge is often measured either objectively or subjectively (Cordell, 1997). While subjective knowledge refers to a person's perception of the amount of knowledge he or she has about an object and activity, objective knowledge pertains more to the actual amount of knowledge that the person stores in his or her memory (Klerch and Sweeney, 2007).…”

Section: Consumer Knowledgementioning

confidence: 99%

The moderator effects of perceived risk, objective knowledge and certainty in the satisfaction‐loyalty relationship

Tuu¹,

Olsen

Linh³

2011

Journal of Consumer Marketing

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The moderator effects of perceived risk, objective knowledge and certainty in the satisfaction-loyalty relationship Abstract Purpose -This study discusses and tests the combined role of perceived risk, objective knowledge and certainty as moderators in the satisfaction-loyalty relationship.Design/methodology/approach -The authors use survey data of 387 Vietnamese consumers in a food context. A structural equation modelling (SEM) approach for moderator analysis with latent constructs is used to test the hypotheses.Findings -Perceived risk is a barrier in the forming of loyalty with a negative moderating effect on the satisfaction-loyalty relationship. However, the satisfaction-loyalty relationship is stronger when objective knowledge and certainty increase.Research limitations/implications -Our object and setting is limited to one product category in one market. In addition, other moderators (e.g., situation and ambivalence) can be added. The nature of causality is problematic due to the use of survey design.Practical implications -Customer management based on satisfaction is not sufficient to keep customers' loyalty, especially in the situations of highly perceived risk and uncertainty. Marketing strategies, which reduce consumers' risks, consolidate their confidence and educate them with relevant knowledge, may be effective strategies to increase their loyalty.Originality/value -The study fills several gaps in the present literature. First, it overcomes some shortcomings of previous studies of moderators in the satisfaction-loyalty relationship by testing the combined role of three important moderators. Second, it tests the moderator effect of objective knowledge and adds an additional explanation to previous studies. While some previous studies suggest a negative moderator effect of subjective knowledge, this paper argues for and confirms a positive moderator effect of objective 3 knowledge on this relationship. Finally, it uses SEM for moderator analysis with latent constructs.

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“…For Fairtrade, despite the recession, sales of Fairtrade products rose 12% in 2009, an estimated £799 million (Clarke, 2010). In view of the trends, generally speaking, the increased consumption is a positive correlation between consumers' consciousness and their knowledge on the ethical attributes, and their willingness to pay (Cordell, 1997).…”

Section: Fairtradementioning

confidence: 99%

Consumers' willingness to pay for ethical attributes

Mai¹

2014

Marketing Intelligence &Amp; Planning

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The aggregated result shows that although consumers are willing to pay more for the product with ethical attributes than the one that is without, still around a half of them are not willing to pay more. In terms of demographics, the results show no significant differences between the two genders or different age groups in their willingness to pay for ethical attributes. As might be expected, willingness to pay was correlated with the level of consciousness of the ethical attributes.Originality/Value: The findings of this study help management to think practically about the value consumers willing to pay for the selected attributes. The results show a significant synergy in a combination of ethical attributes in products.

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Consumer knowledge measures as predictors in product evaluation

Cited by 125 publications

References 31 publications

Reservation Price as a Range: An Incentive-Compatible Measurement Approach

Reservation Price as a Range: An Incentive-Compatible Measurement Approach

The moderator effects of perceived risk, objective knowledge and certainty in the satisfaction‐loyalty relationship

Consumers' willingness to pay for ethical attributes

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