Difference in Attribute Importance for Different Industrial Products

Lehmann, Donald R.; O’Shaughnessy, John

doi:10.1177/002224297403800208

Cited by 97 publications

(71 citation statements)

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“…Some studies have shown that at least a third of the riskreducing strategies examined involved information gathering (Hawes and Barnhouse, 1987;Sweeney et al, 1973). Many researchers (Cardozo and Cagley, 1971;Choffray and Johnson, 1979;Demsey, 1918;Gronhaug, 1975;Hakansson and Wootz, 1975;Lehmann and O'Shaughnessy, 1974), suggest that buyers engage in greater information search, in general, and greater external search, in particular, when the buying situation engenders a higher degree of decision risk and/or turbulence (i.e. conflict, uncertainty, lack of consensus).…”

Section: Information Gatheringmentioning

confidence: 99%

Organizational Risk Perception and Reduction: A Literature Review

Mitchell

1995

British J of Management

266

188

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Despite there being a considerable literature concerning risk in organizational buyer behaviour, necessary reviews of the area are not easy to find. This article attempts to organize, describe and appraise the current literature with a view to gaining a critical perspective for the benefit of future researchers. The discussion begins with the way managers view risk and factors which affect that perception and then considers the role of various risk reducing strategies employed in the organizational setting. Comments are made on the state of the literature and the further research required.

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Section: Information Gatheringmentioning

confidence: 99%

Organizational Risk Perception and Reduction: A Literature Review

Mitchell

1995

British J of Management

266

188

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“…Our experience surveys reaffirmed the importance of suppliers having in place a feedback mechanism to continually gauge how well the supplier is meeting customer requirements along the "key buying criteria" in buyersupplier relations (e.g., Cannon and Perreault, 1999;Lehmann and O'Shaughnessy, 1974;Lewis, 1995;Shapiro et al, 2004). That is, a vendor must engage in continuous performance assessment along such metrics as defect rates, on-time delivery, cycle time, and so on.…”

Section: Imparting Theory Onto the Vocmentioning

confidence: 64%

Explicating Hearing the Voice of the Customer as a Manifestation of Customer Focus and Assessing its Consequences

Bharadwaj¹,

Nevin²,

Wallman³

2012

J of Product Innov Manag

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It is often asserted that hearing the voice of the customer (VOC) can generate meaningful product and process innovation. Minimal empirical attention has, however, been devoted to evaluating this claim. The paucity of academic research exists, in part, due to the lack of an underlying conceptual foundation for the VOC concept. An opportunity thereby exists to impart theory, and evaluate whether hearing the VOC can indeed lead to favorable consequences. This research construes customer focus as a market‐sensing capability which manifests itself in the key organizational processes (i.e., intelligence generation and continual performance assessment) and values (i.e., a customer orientation serves as the guiding principle) that allow the VOC to be heard throughout the organization. Those manifestations are hypothesized to impact positions (i.e., relative [task‐related] performance) and outcomes (i.e., customer loyalty). The results based on data obtained from a cross‐sectional survey research design fielded in a supplier‐business customer context provide empirical support for the favorable consequences of being customer‐focused, and support the need to consider moderating variables. This paper advances theory by (1) answering the call to examine the capabilities that underlie a customer‐focused organization; (2) establishing empirical support for the (a) linkage between hearing the VOC and acting on that information, (b) elusive relationship between acting on the VOC and future buyer intentions, and (c) sources→positions→outcomes model as a path to achieving competitive advantage; (3) demonstrating that being customer‐focused does not have a direct effect on customer loyalty, thereby revealing a result different than that obtained in the consumer empowerment literature; and (4) demonstrating the importance of key moderators, namely (a) that relative (operational) performance has a strong positive effect on loyalty in relationships characterized by lower switching costs, and (b) that the effect of customer focus may lessen over time, implying that core capabilities may evolve into core rigidities. Additionally, this research contributes to business practice by providing managers with an understanding of how to hear the VOC throughout the firm (i.e., how to become a customer‐focused organization), and offering guidance on how to manage buyer–seller relationships.

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“…Technical uncertainty. Moller and Laaksonen (1986) and Lehmann and O'Shaughnessy (1974) recognize technical uncertainty as the chance that the product will not perform as expected, a particular concern in new task situations where there is no past experience in buying and product knowledge is very low. We incorporate technical uncertainty about the product at two levels (low and high).…”

Section: Perceived Riskmentioning

confidence: 99%

“…Financial commitment required in the buying decision corresponds to the fust half of Sheth's definition of perceived risk-that is, it reflects the magnitude of the adverse consequences of a wrong choice. Several researchers have identified fmancial commitment as a factor in buying decisions ( Lehmann and O'Shaughnessy 1974;Moller and Laaksonen 1986;Webster and Wind 1972). We specify two levels of financial commitment (low and high).…”

Section: Perceived Riskmentioning

confidence: 99%

Developing and Testing a Contingency Paradigm of Group Choice in Organizational Buying

Wilson

Lilien²,

Wilson

1991

Journal of Marketing Research

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The outhors develop a contingency pclrodigm involving two situational factors (the nature of the buying task and the degree of perceived risk) to explain the predictive abilities of seven formal models of group choice and to ree how the mechanism of buying center choice is affected by situation01 foctors. In an empirical test of the mcdels and the paradigm involving 104 procurement decisions made by buying centers, they found that the paradigm dms significantly better than any single model in terms of predicting group choice. The contingency paradigm predicted accurately in 49% of the cases whereas the bast olternotive single model predicted correctly in only 20% of the cases. The results provide empirical suppart for several p r o p asitions in the organizational buying behavior literoture.

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Difference in Attribute Importance for Different Industrial Products

Cited by 97 publications

References 0 publications

Organizational Risk Perception and Reduction: A Literature Review

Organizational Risk Perception and Reduction: A Literature Review

Explicating Hearing the Voice of the Customer as a Manifestation of Customer Focus and Assessing its Consequences

Developing and Testing a Contingency Paradigm of Group Choice in Organizational Buying

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