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

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On the Edge of Buying : A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges. / Dost, Florian; Wilken, Robert; Eisenbeiss, Maik; Skiera, Bernd.

In: Journal of Retailing, Vol. 90, No. 3, 09.2014, p. 393-407.

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Dost, Florian ; Wilken, Robert ; Eisenbeiss, Maik ; Skiera, Bernd. / On the Edge of Buying : A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges. In: Journal of Retailing. 2014 ; Vol. 90, No. 3. pp. 393-407.

Bibtex

@article{12b78457c9c1400781cf7a55a23830f0,
title = "On the Edge of Buying: A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges",
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{\textquoteright} 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.",
author = "Florian Dost and Robert Wilken and Maik Eisenbeiss and Bernd Skiera",
year = "2014",
month = sep,
doi = "10.1016/j.jretai.2014.03.007",
language = "English",
volume = "90",
pages = "393--407",
journal = "Journal of Retailing",
issn = "0022-4359",
publisher = "Elsevier BV",
number = "3",

}

RIS

TY - JOUR

T1 - On the Edge of Buying

T2 - A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges

AU - Dost, Florian

AU - Wilken, Robert

AU - Eisenbeiss, Maik

AU - Skiera, Bernd

PY - 2014/9

Y1 - 2014/9

N2 - 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.

AB - 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.

U2 - 10.1016/j.jretai.2014.03.007

DO - 10.1016/j.jretai.2014.03.007

M3 - Journal article

VL - 90

SP - 393

EP - 407

JO - Journal of Retailing

JF - Journal of Retailing

SN - 0022-4359

IS - 3

ER -