Differential Effects of Subjective Knowledge, Objective Knowledge, and Usage Experience on Decision Making: An Exploratory Investigation

Raju, P. S.; Lonial, Subhash C.; Mangold, W. Glynn

doi:10.1207/s15327663jcp0402_04

Cited by 344 publications

(302 citation statements)

References 23 publications

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“…Naturally occurring correlations between subjective and objective knowledge poses a problem with separating the effect of each knowledge type if both are included in a model (Raju et al, 1995). 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).…”

Section: Consumer Knowledgementioning

confidence: 99%

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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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Section: Consumer Knowledgementioning

confidence: 99%

“…For example, Raju et al (1995) suggest that knowledge types could be manipulated orthogonally to assess their independent effects. Such manipulations may allow a more precise study of the two-way and three-way interaction between other moderator variables as well.…”

Section: Conclusion Practical Implications and Limitationsmentioning

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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“…Each of these types of knowledge influences behaviour in a distinct way. Studies suggest that there is an interplay between subjective knowledge and information search (Brucks 1985, Moorman et al 2004, Raju et al 1995, risk taking (Kwon andLee 2009, Wang 2009), and practical financial decisions (Hadar et al 2013, Robb andWoodyard 2011). Sometimes, the influence of perceived knowledge on behaviour is even stronger than that of factual knowledge (Ellen 1994, Robb andWoodyard 2011).…”

mentioning

confidence: 99%

The Influence of Media Use on Laymen's Monetary Policy Knowledge in Germany

Hayo

Neuenkirch

2015

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. terested in and knowledgeable about the ECB. We conclude that the ECB is not only well advised to continue with education programmes designed to convince the public of the importance of knowing about monetary policy, but to take the gender-specific differences into account in doing so. Terms of use: Documents in

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“…Past research has demonstrated that objective knowledge and subjective knowledge (i) are distinct constructs with unique measures (Brucks 1985;Park, Mothersbaugh, and Feick 1994), (ii) influence search and choice behavior differently (e.g., Radecki and Jaccard 1995;Raju, Lonial, and Mangold 1995), (iii) have unique antecedents (Park et al 1994;Radecki and Jaccard 1995), and (iv) have widely varying correlations (Brucks 1985 [0.54];Ellen 1994 [0.08]; Park et al 1994 [0.65]; Radecki and Jaccard 1995 [0.05]). This article focuses on subjective knowledge.…”

mentioning

confidence: 99%