Product Category Familiarity and Preference Construction

Coupey, Eloïse; Irwin, Julie R.; Payne, John W.

doi:10.1086/209521

Cited by 183 publications

(100 citation statements)

References 2 publications

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“…Indeed, both the heavy and light users of the product category in our research were influenced by perceived relative usage, which is interesting in light of numerous studies showing that experts are less vulnerable to context effects and judgmental biases than are novices (Coupey, Irwin, and Payne 1998;Fox, Ratner, and Lieb 2005;Tanner and Carlson 2009). This previous research is consistent with the idea that contextual influences shape judgments when preferences are constructed rather than stored and that the judgments of novices are more likely to be constructed than those of experts.…”

Section: Related Literaturessupporting

confidence: 87%

Outpacing Others: When Consumers Value Products Based on Relative Usage Frequency

Hamilton¹,

Ratner²,

Thompson³

2011

J Consum Res

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JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. When considering the purchase of a new product, will consumers be more likely to make the purchase if they think about using it every day or if they think about using it every week? From an economic perspective, using a durable product more frequently should increase its perceived value. However, we show that perceived usage frequency relative to other consumers can influence product interest more than absolute usage frequency. In five studies, we use scale labels, advertisements, and customer reviews to invoke either a high-frequency or low-frequency norm. We show that high-frequency cues create less product interest and lower willingness to pay than low-frequency cues because consumers infer that their relative usage frequency will be lower, reducing the product's perceived fit. This effect is moderated by the consumer's perceived similarity to the standard of comparison and the consumer's own characteristics. The University of Chicago PressH ow do consumers decide whether to buy a durable good, and how much they are willing to pay for it? One factor they might consider during the decision process is how often they will use the product. In this article, we examine how cues suggesting that a product is expected to be used more or less frequently affect consumer interest in the product.

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Section: Related Literaturessupporting

confidence: 87%

Outpacing Others: When Consumers Value Products Based on Relative Usage Frequency

Hamilton¹,

Ratner²,

Thompson³

2011

J Consum Res

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show abstract

“…Evidence from past literature contradicts the finding that prior knowledge influences the information acquisition behavior , Kerstetter & Cho, 2004. Some other researchers concluded that there is a negative relationship between prior knowledge and external search (Coupey et al, 1998;Fodness & Murray, 1998). However, in this study, past experience has a positive and significant relationship with the effort of information acquisition behavior.…”

Section: Path Coefficients and Hypotheses Testingcontrasting

confidence: 95%

Determinants of Destination Knowledge Acquisition in Religious Tourism: Perspective of Umrah Travelers

Hassan¹,

Zainal²,

Mohamed³

2015

IJMS

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Religious travel has grown consistently with the growth of the tourism industry worldwide. However, some of the religious based tourism particularly pilgrimage tourism such as Umrah received little attention in the literature although there are 6 million people performing it each year. Thus, this study aims to examine the relationship between the factors influencing information acquisition behavior to gain destination product knowledge in performing Umrah. Survey data from 198 Umrah travelers were analyzed using Partial least squares (PLS) structural equation. The final useful sample consisted of 198 Muslim participants who had travelled to Mecca for Umrah in the last 12 months. Partial least squares (PLS) structural equation was used in data analysis. The results show that the determinants of information search, the purpose of travelling, past experience, quality of information and travel companion affect information acquisition behavior and destination product knowledge. The findings of this study will aid tour operators and travel agents in developing relevant strategies for future business development.

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“…They may also seek variety to produce a portfolio of options as a hedge against future uncertainty. Coupey et al (1998) suggested that consumers' prior knowledge of a product (i.e. familiarity) might also affect the stability of their preferences.…”

Section: Changes In Consumer Preferences Over Timementioning

confidence: 99%

When do changes in consumer preferences make forecasts from choice-based conjoint models unreliable?

Meeran

Jahanbin

Goodwin

et al. 2017

European Journal of Operational Research

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Forecasting the sales or market share of new products is a major challenge as there is little or no sales history with which to estimate levels and trends. Choice-based conjoint (CBC) is one of the most common approaches used to forecast new products' sales. However, the accuracy of forecasts based on CBC models may be reduced when consumers' preferences for the attributes of products are labile. Despite this, there is a lack of research on the extent to which lability can impair accuracy when the coefficients estimated in CBC models are assumed to be constant over time. This paper aims to address this research gap by investigating the prevalence of lability for consumer durable products and its potential impact on the accuracy of forecasts. There are reasons to expect that lability may be particularly evident where a product is subject to rapid technological change and has a short product life-cycle. We carried out a longitudinal survey of the preferences of 161 potential consumers relating to four different types of products. We established that for both functional and innovative products: (i) the CBC models vary significantly over time, indicating changes in consumer preferences and (ii) such changes may cause large differences in forecasts of the probabilities that consumers will purchase particular brands of products. Hence employing models where coefficients do not change over time can potentially lead to inaccurate market share forecasts for high-tech, short life-cycle products that are launched even a short time after the choice-based modelling has been conducted.Key words: Forecasting, New product forecasting, Choice based conjoint, Attribute coefficient change, Longitudinal study 2 When do changes in consumer preferences make forecasts from choice-based conjoint models unreliable? ABSTRACTForecasting the sales or market share of new products is a major challenge as there is little or no sales history with which to estimate levels and trends. Choice-based conjoint (CBC) is one of the most common approaches used to forecast new products' sales. However, the accuracy of forecasts based on CBC models may be reduced when consumers' preferences for the attributes of products are labile. Despite this, there is a lack of research on the extent to which lability can impair accuracy when the coefficients estimated in CBC models are assumed to be constant over time. This paper aims to address this research gap by investigating the prevalence of lability for consumer durable products and its potential impact on the accuracy of forecasts. There are reasons to expect that lability may be particularly evident where a product is subject to rapid technological change and has a short product life-cycle. We carried out a longitudinal survey of the preferences of 161 potential consumers relating to four different types of products. We established that for both functional and innovative products: (i) the CBC models vary significantly over time, indicating changes in consumer preferences and (ii) such changes may ca...

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Product Category Familiarity and Preference Construction

Cited by 183 publications

References 2 publications

Outpacing Others: When Consumers Value Products Based on Relative Usage Frequency

Outpacing Others: When Consumers Value Products Based on Relative Usage Frequency

Determinants of Destination Knowledge Acquisition in Religious Tourism: Perspective of Umrah Travelers

When do changes in consumer preferences make forecasts from choice-based conjoint models unreliable?

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