On the Edge of Buying:A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges

Dost, Florian and Wilken, Robert and Eisenbeiss, Maik and Skiera, Bernd (2014) On the Edge of Buying:A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges. Journal of Retailing, 90 (3). pp. 393-407. ISSN 0022-4359

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Abstract

Targeting the “right” consumers is a core part of marketing. Whereas existing techniques to identify these consumers use demographic or psychographic variables or behaviors such as response probabilities, a proposed new targeting approach builds on consumers’ incremental responses to identify them by their willingness-to-pay (WTP) ranges. These WTP ranges reveal a consumer as a definite buyer, a definite non-buyer, or an indecisive buyer. The proposed theoretical framework indicates that indecisive buyers offer the highest incremental responses to targeted marketing mix activities and thus should be the most preferred targeting group. A sequence of three laboratory experimental studies validates the proposed approach for targeted price discounts and non-price tactics. In addition, a large-scale field experiment involving a consumer engagement campaign that includes observed purchase behavior demonstrates the high external validity and applicability of this approach.

Item Type: Journal Article
Journal or Publication Title: Journal of Retailing
Uncontrolled Keywords: /dk/atira/pure/subjectarea/asjc/1400/1406
Subjects:
Departments: Lancaster University Management School > Management Science
ID Code: 87724
Deposited By: ep_importer_pure
Deposited On: 13 Sep 2017 10:10
Refereed?: Yes
Published?: Published
Last Modified: 01 Jan 2020 10:26
URI: https://eprints.lancs.ac.uk/id/eprint/87724

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