Protecting brands from product failure using extended warranties

Karande, Kiran; Gopinath, Mahesh

doi:10.1108/jpbm-09-2018-2019

Cited by 4 publications

(10 citation statements)

References 49 publications

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“…Third, owing to the fear of product failure, customers prefer to shop for known products and brands rather than ventures to purchase a new brand or product (Adapa et al. , 2020; Karande and Gopinath, 2019; Mainardes et al. , 2020; Raithel et al.…”

Section: Thematic Analysis Resultsmentioning

confidence: 99%

“…These days I limit mostly to regular repeat purchases" (PI30, 34, male). Third, owing to the fear of product failure, customers prefer to shop for known products and brands rather than ventures to purchase a new brand or product (Adapa et al, 2020;Karande and Gopinath, 2019;Mainardes et al, 2020;Raithel et al, 2021). "During the pandemic, I would not like a product to fail.…”

Section: Thematic Analysis Resultsmentioning

confidence: 99%

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Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Nigam

Behl

Pereira

et al. 2022

IMDS

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PurposeThe paper explores how consumer behavior for purchasing impulse products changed in the complex and disruptive (emergency) situation of the COVID-19 pandemic when the customer is shopping in-home and not visiting the offline stores in an emerging economy context. This paper further explores how digital transformations like the use of blockchain technology can aid offline/omnichannel retailers in reviving sales via permission marketing for impulse products.Design/methodology/approachThe authors followed a qualitative research design and conducted 24 personal interviews with millennials and 15 interviews with offline/omnichannel retailers from an emerging economy. The data collected were analyzed using the thematic analysis procedure.FindingsThe authors discuss their findings under three themes – customers' conscious impulse buying during the pandemic, customers' unconscious impulse buying during the pandemic, and a viable solution for retailers in response to the pandemic.Practical implicationsThe authors suggest that marketers primarily from an offline/omnichannel store should adapt to permission marketing and use technologies like blockchain for the digital transformation of their marketing strategies. Doing so can help offline retailers minimize future damages in the retail sector during emergency situations.Originality/valueThis paper is one of the first that explores how impulse – pure, suggestion, planned and reminder – purchases got affected during the COVID-19 pandemic disruptions in an emerging economy. This paper is also one of the first to explore the role of permission marketing and digital transformation by the use of blockchain in helping offline retailers in forming swift trust and practice trust-based marketing.

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Section: Thematic Analysis Resultsmentioning

confidence: 99%

Section: Thematic Analysis Resultsmentioning

confidence: 99%

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Nigam

Behl

Pereira

et al. 2022

IMDS

View full text Add to dashboard Cite

show abstract

“…Product warranty has two main objectives for the retailer, namely promotional and protective objectives (Kiran & Mahesh, 2019). The purpose of the promotional objectives is to encourage the customer's purchase decision, as warranties usually promise better performance and satisfaction during a significant part of the product's life.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Extended Warranty and Its Impact on Perception in Sales Promotion of Durables

Dunković,

Knežević

2023

Business, Management and Economics Engineering

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Purpose – The aim of the paper is to determine the perception of extended warranty when communicated by retailer during the sales promotion of durable products (e.g. refrigerators). We consider perception as five signals or conceptual dimensions in retail context. The research question is: What perception creates the extended warranty? The dimensions studied can increase or decrease the value and therefore attractiveness of the product. In this sense, extended warranties are a tool that retailers can use to change customers’ attitudes towards a product. There is little primary research that shows how communication of extended warranties influences customer perception and which signals are relevant to customers and retailers. Research methodology – A survey was conducted on a sample of 180 respondents. The measurement model includes extended warranty as a construct with five observed variables related to customer sentiment (risk relief, no cost, quality, price and brand). Each sentiment signal is tested as a separate hypothesis. The model was tested with SEM and CFA was used to interpret the data. Findings – In advertising theory, the extended warranty is seen as a signal of better quality and reliability, but we have shown that it creates a sense of risk relief in the purchase decision. Research limitations – Extended warranties can give rise to perceptions other than those examined in the measurement model. For different categories of consumer goods, the warranty features can be perceived differently. Practical implications – Retailers design promotional activities by communicating extended warranty to customers. As a result, they do not perceive promoted object as a more expensive due to warranty provision, even though it offers value to customers. Originality/Value – The originality of the article lies in the different perceptions that arise when customers are confronted with an extended warranty as part of the product promotion in a store. The empirical model proposes a construct of perception of the extended warranty mediated by a unique combination of signals such as risk relief, no cost sentiment, quality, price, and brand value. Only two signals, namely risk relief and quality, influence purchase intention.

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“…These different “thought worlds” can reduce the sharing of knowledge between the different parties involved in the PD process, resulting in deficit rather than enhancement of the new product development (NPD) process. Therefore, despite the heavy cost of research and development (R&D), many products fail in the market (Karande and Gopinath, 2019; Pitta and Pitta, 2012).…”

Section: Introductionmentioning

confidence: 99%

The missing link in the evolution of product design: a strategy roadmap towards product development success

Sameti

2022

JPBM

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Purpose The literature on product design/development (PD) has attempted to understand the consumer but has not provided a comprehensive framework for product marketers and designers. Thus, this paper aims to compile and link the main topics in the literature on PD to create a foundation for strategic development in this field. Design/methodology/approach This research adopted a “fit-for-purpose” methodology, a cross-referencing method and a meta-narrative approach that are appropriate for reviewing studies in a field involving complex topics and areas in which the literature is still developing. Findings To enhance the quality of product development, there is a need for PD strategy based on a clear understanding of many factors: the consumer; the complex interrelations among a product’s values, dimensions and personalities; PD theories; and other related variables. Practical implications This study found that PD studies should concentrate more on codifying strategies to enhance product development success. This is particularly important in view of consumers’ varied and changeable tastes in the global market and the differing insights of product marketers and designers. Originality/value This comprehensive systematic review is a unique study that contributes to future business-to-consumer and business-to-business research by compiling scattered and hidden strategies, theories and variables in the PD/development literature.

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Protecting brands from product failure using extended warranties

Cited by 4 publications

References 49 publications

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Extended Warranty and Its Impact on Perception in Sales Promotion of Durables

The missing link in the evolution of product design: a strategy roadmap towards product development success

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