Conference Sessions - Jesse H. Jones Graduate School of ...

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TD10 MARKETING SCIENCE CONFERENCE – 2011 ■ TD10 Founders IV Consumer Behavior: Decision Making Contributed Session Chair: Berna Basar, Research Assistant, Okan University, Akfirat Kampusu Formula1 Pisti Yani, Istanbul, Turkey, berna.basar@okan.edu.tr 1 - Consumer Gratitude and Customer Loyalty: Moderating Effect of Stage of Relationship, Gender and Age Prem Dewani, Doctoral Student, Indian Institute of Management, Ahmedabad, Vastrapur, Ahmedabad, Gujarat, Ahmedabad, 380015, India, premd@iimahd.ernet.in, Anurag Kansal Most theories of relationship marketing (RM) emphasize the mediating role of trust and commitment in business relationships. In spite of the acknowledgement of reciprocity and gratitude as a basis of relationships, applications of gratitude have been limited to explain theories of psychology and sociology. Role of consumer gratitude in developing and maintaining long term business relations are at fledging stage in marketing literature. Paper explains and empirically validates the mediating role of consumer gratitude (along with trust and commitment) in RM investment, customer purchase intention & customer loyalty. Paper further attempts to find the role of stage of relationship, gender and age of customer as moderators of RM investments and consumer gratitude. Confirmatory Factor Analysis (CFA) is done on a sample of 282 participants (140 female and 142 male). The proposed model shows a good model fit (> 0.92) for both combined data set and for male & female data set separately. The mediating role of consumer gratitude in RM investment and Customer Purchase Intension & Customer loyalty is validated empirically. Further, series of Analysis of Variance (ANOVA) is done to validate the moderating effect of stage of relationship, gender and age of customer on customer gratitude. It is found that age of relationship, gender of the customer and age of customers significantly affect consumer gratitude for a given RM investment. It is concluded that gratitude plays key role in development and maintenance of relations and stage of relationship, gender and age of customers are found important segmentation variables. Managerial implications and theoretical contribution of the study are also discussed. 2 - Impact of Visual and Tactile Input on Variety Seeking Behavior Subhash Jha, Visiting Research Scholar, The University of Memphis, 208 Windover Road, Apartment 1, Memphis, TN, 38111, United States of America, subhashjha.iimt@gmail.com, S. (Sivkumaran) Bhardawaj Sensory aspects have proved to be the underpinnings of many feeling based hedonic behaviors in the consumer behavior literature; however there has been little empirical research on the impact of sensory stimuli on variety seeking behavior. Variety seeking behavior is a kind of low-effort feelings-based decision-making, which largely get manifested in affective laden consumption. Prior research on variety seeking is limited to the impact of taste sense only and largely igroned the potential impact of other senses such as touch, vision, smell and sound. Hence, the present work is developed on a Stimulus Organism Response theory to addresses this gap with a conceptual framework incorporating three set of variables related to individuals, products and stores capturing two important sensory dimensions i.e. touch and vision. It provides a more comprehensive depiction of how variety seeking behavior is theoretically related to tactile and visual dimensions of a product and store. Two studies are proposed to be conducted among retail shoppers- a lab experiment and a mall intercept survey- to test the hypotheses. The findings of this work will make a strong theoretical contribution by paving the way for greater understanding of these two common but distinct and complex behaviors from a sensory marketing perspective. It will help marketing managers carefully design the sensory stimuli of a retail store to encourage variety seeking behavior. At the end, it outlines the limitations of research findings and possible avenues for future research. 3 - Turkish Gift Buying Attitudes in Today’s Marketing Environment Berna Basar, Research Assistant, Okan University, Akfirat Kampusu Formula1 Pisti Yani, Istanbul, Turkey, berna.basar@okan.edu.tr, A. Banu Elmadag Bas This study examines gift selection behavior of Y Generation in Turkey’s marketing environment. The motives and factors influencing the gift giving decisions of adults have been explored using qualitative data. Previous studies have not focused on the relation between the gift buying habits and buyers’ reaction to marketing elements in Turkey. In order to get insight about gifting habits of Y Generation, thirty two indepth interviews were carried out. Besides its availability, this group has been chosen since the technology, mass marketing, and popular culture in which today’s youth grew up, differentiated Y Generation from previous youth cultures. Giving gifts to parents and/or romantic partners are considered to be the most important gift giving occasions. While the gifts bought for family members are more utilitarian, bought without any price limit and without reciprocal obligation; gifts bought for romantic others are more expressive, customized and requires some amount of reciprocity. In addition to that, male participants spend the highest amount of money on gifts when they are buying a wedding gift to their romantic partner. Although there is no consensus on the importance of brand name in gift giving, quality is considered as a gift selection criteria by most of the participants. These participants prefer to buy gifts according to the quality standards set within their environment. It is also obvious that some brand stores deliver high quality gifts in the eyes of the customers. 32 ■ TD11 Champions Center I Advertising Content Contributed Session Chair: Larry Garber, Associate Professor, Elon University, 2075 Campus Box, Elon, NC, 27244, United States of America, lgarber@elon.edu 1 - The Role of Brand Construal and Affect Valence in Comparative Advertising Ying Ho, Assistant Professor, University of Macau, Faculty of Business Administration, Taipa, Macau, yingho@umac.mo, Candy K. Y. Ho Comparative advertising is often used to persuade consumers that the advertised brand is relatively superior to its competitors. Focusing on how the advertised brand is compared with its competitors, this research argues that the comparison process may affect the way the advertised brand is construed and hence the persuasiveness of comparative advertisements with different affective appeals. We propose that when consumers are prompted to construe the advertised brand at a low (high) level, negative (positive) affect advertisements induce higher brand evaluation. Our argument is based on the construal fit explanation (Kim et al. 2009; Wong 2009; Zhao and Xie 2010), where a match of the construal level of an object and that of processing style increases the perceived relevance and processing fluency of the information, thereby increasing information persuasiveness. On one hand, with reference to the construal level theory (Trope and Liberman 2000), we argue that the advertised brand can be construed at different levels depending on how the comparison is framed in the comparative advertisement (e.g., comparison within a general product category versus comparison with a specific brand; comparison of feasibility versus desirability features, etc.) On the other hand, research on affect and information processing (e.g., Gasper and Clore 2002) suggests that positive versus negative affect prompts global versus local information processing. We propose that the low versus high construal level of advertised brand will cause a match/mismatch with the processing style prompted by negative versus positive affect advertisements, thereby leading to differential ad persuasiveness. 2 - The Influence of Product-placement Clutter and Other Context Variables on Brand Attitude and Memory Pola Gupta, Professor of Marketing, Wright State University, Department of Marketing, 3640 Colonel Glenn Hwy., Dayton, OH, 45435, United States of America, pola.gupta@wright.edu In response to viewers’ resentment of ad cluster, the decline in free time due to other competing options such as cell phones, text messaging, satellite dishes and the Internet, television advertisers are coming up with more creative and deceptive antizapping strategies (e.g., product placements). With product placements, the ads are camouflaged because of their seamless integration with the programming content. The growth in the body of literature addressing product placements has revealed multiple variables that affect consumer response to placements. Although the clutter in product placements is widely reported in popular press, its effect on brand attitude and memory has not yet been investigated. This research attempts to fill that void by examining the different effects of product placement clutter on memory and attitude. The proposed research will also assess the impact of demographic variables (age, gender, education, income, culture) on perceived product placement clutter in movies, T.V. shows and game shows. Several hypotheses relating to clutter in product placement are proposed in this study. 3 - The Effects of Shape Complexity and Presentation Larry Garber, Associate Professor, Elon University, 2075 Campus Box, Elon, NC, 27244, United States of America, lgarber@elon.edu, Eva Hyatt, Unal Boya In a recent study (Garber, Hyatt and Boya 2009), we found evidence that packages of simple form, such as cylinders, appear larger than packages of equal volume and complex form; that is, those exhibiting distinct contiguous parts such as caps and necks, shoulders, bodies and feet. This result is directly opposite of results of two prior studies (Folkes and Matta 2004; Raghubir and Krishna 1999), who find that packages of complex form appear larger than packages of equal volume but simple form. In both experiments, packages were presented serially in pairs. The purpose of the present series of studies is to provide an explanation by specifying the conditions under which our result or the opposite will occur. Subjects estimated the relative volumes of packages whose shapes ranged from the simple to the complex, presented in a succession of contexts that also ranged in level of visual complexity. Results indicate that shape complexity significantly affects volume appearance independently of height, though the direction of the effect (i.e., which shape type appears larger than the other) depends upon the complexity of the context in which the packages are presented. This reversal suggests that the volume estimation strategies employed by consumers change, becoming more heuristic due to the cognitive effort required when the context in which volume estimation takes place becomes sufficiently visually complex. Theoretical and managerial implications are discussed, as well as future research directions.
■ TD12 Champions Center II Bidding Contributed Session Chair: Ming Cheng, PhD Student, Rutgers Business School, 1 Washington Park, Newark, NJ, 07102, United States of America, mindych@pegasus.rutgers.edu 1 - Coordinating Traditional and Search Advertising Alex Kim, Purdue University, 403 W. State St, West Lafayette, IN, United States of America, kimaj@purdue.edu, Subramanian Balachander Search advertising is a rapidly growing form of online advertising. Unlike traditional media advertising, which is typically sold on the basis of audience demographics, search advertising is sold on the basis of the keyword through an auction. The new world of search advertising raises questions about how media planners should incorporate this in their decision-making. In choosing traditional advertising media, firms typically use measures like CPM (cost-per-thousand consumers reached) to compare different media. However, the question arises as to whether such measures can translate seamlessly to search advertising. i.e., can firms use CPM from traditional media to decide whether to participate and how much to bid in search advertising? In this paper, we analyze this critical issue using a vertically differentiated duopoly model in which firms make decisions on coordinating traditional and search advertising. We find interestingly that firms should not use CPM from traditional media in search advertising. We find that firms may undertake search advertising even if the minimum cost of search advertising exceeds CPM in traditional media. The reason is because of the strategic benefits firms expect to derive from undertaking search advertising. The firm can derive strategic benefits by pre-empting competitors in expanding the awareness through search advertising. On the other hand, the firm may also raise competitors’ cost for a keyword even if it loses the auction. However, we also find that the pursuit of these strategic benefits can result in a prisoner’s dilemma in which the firms’ profits are decreased with search advertising. 2 - Modeling Price Dynamics in Simultaneous Auctions: A Bayesian Factor Analytic Approach Norris Bruce, Associate Professor, The University of Texas at Dallas, 800 West Campbell Road, Richardson, TX, 75080-3021, United States of America, norris.bruce@utdallas.edu Auctions have become ubiquitous, partly because of the popularity of internet auctions and that of auctioning public assets, such as oil and gas exploration rights, bus routes, and spectrum licenses. This ubiquity has given us rich sources of data, and the chance but also the challenge to create statistical methods to study features, such as an auction’s price dynamics and the factors that may influence the evolution of prices in various types of auctions. This work thus presents a Bayesian dynamic factor model to study price dynamics in a simultaneous auction; a format in which the seller offers multiple items for sale at the same time, and participants bid over multiple rounds for the items in which they are interested. The factor approach decomposes each bid into two components: 1) temporal component that varies over the rounds, driven by interactions among bidders; and 2) a cross-sectional component that measures how each item and relatedness among items influence willingness to pay. The sequential Bayesian approach helps mitigate the missing or partially observed data problem: here the fact that participants may bid on a subset of the available items in each round, and bid only in a subset of the rounds. Finally, I apply the factor model to a particular example, FCC spectrum auctions, and identify it by exploiting the format of the auction itself: i.e. the fact that participants can bid on multiple items in the each round. The main results reveal the bidding behaviors of the participants, showing how their bids evolve over time as function of not only design variables and temporal competition, but also their desire to acquire related items. 3 - An Investigation of Market Learning and its Implications for an IP Auction House Joseph Derby, Doctoral Student, Texas Tech University, Rawls College of Business, Lubbock, TX, 79409, United States of America, joseph.derby@ttu.edu, Mayukh Dass In this paper, we study how firms modify their operations based on their market learning and how such changes affect their future performance. The focus here is on Intellectual Property (IP) auction house called Ocean Tomo, which recently started selling IP through organized auctions. With IP representing 70% of the asset values, it has become a major influence in the success of US corporations. We collected data from eight IP auctions held between 2006-2008 and longitudinally examine the evolution of IP exchanges. In particular, we examine how the effects of various drivers including market characteristics, product characteristics, and seller characteristics on IP valuation changed over time. Next, we investigate the apparent changes made by the auction house overtime, and how such changes affected the auction outcomes. We conclude by drawing implications for service organizations such as the auction house, which operate businesses in two-sided markets. MARKETING SCIENCE CONFERENCE – 2011 TD13 33 4 - An Empirical Investigation of Sponsored Search Engine Advertising Pricing Ming Cheng, PhD Student, Rutgers Business School, 1 Washington Park, Newark, NJ, 07102, United States of America, mindych@pegasus.rutgers.edu, Lei Wang, S. Chan Choi Search engine advertising has become a popular way of advertising. Advertisers need to choose a selection of keywords and decide the bidding price for each keyword. Optimizing these decisions can significantly improve the effectiveness of search engine advertising. In this paper, we build an empirical model to describe how keyword selection and bidding price affect different levels of consumer interest. Using data from a leading search engine company in Asia, we study the heterogeneous effects across industries and identify factors that influence advertisers’ optimal keyword selection and bidding strategy. ■ TD13 Champions Center III Quantifying the Profit Impact of Marketing IV Cluster: Special Sessions Invited Session Chair: Xueming Luo, Eunice & James L. West Distinguished Professor of Marketing, The University of Texas at Arlington, Arlington, TX, United States of America, luoxm@uta.edu 1 - The More Efficient the Better: Advertising Efficiency and its Impact on Firm’s Financial Performance Jin-Woo Kim, University of Texas at Arlington, Arlingron, TX, United States of America, jkim@uta.edu, Traci Freling Since there has been a call for more financial accountability in marketing, emphasis has been placed on determining the impacts of marketing activities including customer satisfaction, new product development, corporate social responsibility, and brand equity. Prior research suggests that advertising is positively related to firms’ financial performance. However, several investigations empirically demonstrated that efficiency in marketing can improve a firm’s financial rewards. The current study examines how the stock market reacts to advertising efficiency and advertising effectiveness in the context of Super Bowl advertising. Data Envelopment Analysis (DEA) was used to assess advertising efficiency (advertising executional efficiency). Three advertising executional factors were considered as DEA inputs: (1) advertising length (minutes); (2) frequency (count); and (3) number of brands promoted. Two types of advertising effectiveness were included as DEA outputs: (1) Ad Meter ratings; and (2) Nielsen rating. An event study was conducted to estimate the abnormal stock returns of Super Bowl advertisers. Event study results show that Super Bowl advertising from 2004 to 2008 is positively related to abnormal stock returns for advertisers. Finally, cross-sectional regression analysis was applied to test the impact of advertising efficiency on Super Bowl advertisers’ cumulative abnormal returns. Preliminary results show that ad efficiency is positively associated with abnormal return while Ad Meter and Nielsen ratings are not related to abnormal returns. The findings suggest that being efficient is more important in generating positive abnormal returns. 2 - Marketing Spending, Analyst Coverage, and Firm Performance in the IPO Market Monica Fine, Florida Atlantic University, Boca Raton, FL, United States of America, mfine8@fau.edu, Kimberly Gleason Research linking marketing to financial outputs has been gaining significance in the marketing discipline. Marketing is being forced to speak the language of finance and relate expenditures to measures of firm performance (McAlister et al. 2007). Research in marketing often looks at soft measures of sales or customer satisfaction, but tends to ignore the actual impact on the bottom line (hard measures) (Joshi et al. 2010). This research investigates the effects of marketing spending and analyst coverage during IPOs. This paper contributes by investigating advertising’s impact on analyst coverage instead of focusing on soft measures such as customer satisfaction (Ngobo et al. 2009) or media coverage (Rinallo et al. 2009). Theories from marketing and finance, market-based assets theory and signaling theory respectively, serve as the conceptual basis of this paper. Our research questions include: Does marketing spending send a signal to analyst and investors about the financial health of the firm? Does marketing spending lead to more analyst coverage? Lower forecast error? And More favorable analyst coverage? We will also investigate the possibility of marketing spending and analyst coverage joint determination in the model. Therefore, we will test to see if the two variables are endogenous. Our test and previous research will produce skewed results if endogeneity is an issue. Thus, after controlling for the endogeneity of marketing spending and analyst coverage we will uncover more accurate results. Analyst coverage is often found to be endogenous, but to our knowledge marketing spending and analyst coverage have not been tested for endogeneity.
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