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The effects of direct experience on consumer product evaluation

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  • de Groot, I. Manon
  • Antonides, Gerrit
  • Read, Daniel
  • Raaij, W. Fred van
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    Abstract

    The effects of different sales strategies on consumer product evaluation were investigated. It was expected that direct product experience could decrease economic product valuation. Experiments 1 and 2 studied the effects of product trials and money-back guarantees on consumer willingness to pay (WTP). It appeared that WTP was significantly lower after a product trial than with a money-back guarantee or normal sale. In Experiment 3 a structural equation model showed that product trials had a positive effect on attitude toward the product. Also, a negative effect on WTP was found when the effect was measured directly, but a positive effect when the effect was measured indirectly (through attitude).

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 38 (2009)
    Issue (Month): 3 (June)
    Pages: 509-518

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    Handle: RePEc:eee:soceco:v:38:y:2009:i:3:p:509-518

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    Web page: http://www.elsevier.com/locate/inca/620175

    Related research

    Keywords: Product trial Willingness to pay Direct experience Product evaluation;

    References

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    1. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
    2. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(6), pages 1325-48, December.
    3. Hoch, Stephen J & Loewenstein, George F, 1991. " Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 17(4), pages 492-507, March.
    4. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 84(3), pages 488-500, August.
    5. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr.
    6. Knetsch, Jack L, 1995. "Asymmetric Valuation of Gains and Losses and Preference Order Assumptions," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 33(1), pages 134-41, January.
    7. Wright, Alice A & Lynch, John G, Jr, 1995. " Communication Effects of Advertising versus Direct Experience When Both Search and Experience Attributes Are Present," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 21(4), pages 708-18, March.
    8. Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
    9. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    10. Mano, Haim & Oliver, Richard L, 1993. " Assessing the Dimensionality and Structure of the Consumption Experience: Evaluation, Feeling, and Satisfaction," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 20(3), pages 451-66, December.
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    Cited by:
    1. Lagerkvist, Carl Johan & Hess, Sebastian & Ngigi, Marther W. & Okello, Julius Juma, 2011. "Consumers’ Willingness to Pay for Food Safety in Nairobi: The Case of Fresh Vegetables," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland, European Association of Agricultural Economists 114409, European Association of Agricultural Economists.

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