TY - GEN A1 - Pannhorst, Matthias A1 - Dost, Florian T1 - A Life-Course View on Ageing Consumers: Old-Age Trajectories and Gender Differences T2 - Applied Research in Quality of Life N2 - This study presents a dynamic, model-based view of consumers’ ageing developments, focused on gender differences, to uncover the pathways and socioeconomic transitions that female and male consumers take through old age. The analysis of longitudinal survey data spanning 15 years uses a latent Markov dynamic cluster model with transitions over time. The resulting life courses allow an exploration of lifestyle-related changes in multiple consumer well-being variables beyond age 50. Substantial well-being differences appear in the ageing paths of men and women. In both cases, a dominant chronological sequence through old age is complemented by less common transitions, rarely associated with advanced age. Although the model does not use chronological age as an independent variable, it outperforms purely agebased, or age- cohort-, and period-based models in predicting old-age consumer wellbeing. These results highlight the importance of considering within-cohort diversity when modelling the accompaniments of old age: while some older consumers enjoy active lifestyles, others of similar age succumb to depression and loneliness, rendering age an insufficient predictor of well-being states. In the future, the presented model could be matched with other, even cross-sectional, consumer survey data to help predict various dynamics in the ageing consumer population. KW - Ageing consumers KW - Consumer well-being Y1 - 2022 UR - https://doi-org.manchester.idm.oclc.org/10.1007/s11482-021-09934-6 U6 - https://doi.org/10.1007/s11482-021-09934-6 SN - 1871-2576 SN - 1871-2584 VL - 17 IS - 2 SP - 1157 EP - 1180 ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Analysing and visualising bike-sharing demand with outliers T2 - Discover Data N2 - Bike-sharing is a popular component of sustainable urban mobility. It requires anticipatory planning, e.g. of station locations and inventory, to balance expected demand and capacity. However, external factors such as extreme weather or glitches in public transport, can cause demand to deviate from baseline levels. Identifying such outliers keeps historic data reliable and improves forecasts. In this paper we show how outliers can be identified by clustering stations and applying a functional depth analysis. We apply our analysis techniques to the Washington D.C. Capital Bikeshare data set as the running example throughout the paper, but our methodology is general by design. Furthermore, we offer an array of meaningful visualisations to communicate findings and highlight patterns in demand. Last but not least, we formulate managerial recommendations on how to use both the demand forecast and the identified outliers in the bike-sharing planning process. KW - Analytics KW - Outlier Detection KW - Data Visualization Y1 - 2023 UR - https://link.springer.com/article/10.1007/s44248-023-00001-z U6 - https://doi.org/10.1007/s44248-023-00001-z SN - 2731-6955 IS - 1 ER - TY - GEN A1 - Bogodistov, Yevgen A1 - Dost, Florian T1 - Proximity Begins with a Smile, But Which One? Associating Non-duchenne Smiles with Higher Psychological Distance T2 - Frontiers in Psychology Y1 - 2017 U6 - https://doi.org/10.3389/fpsyg.2017.01374 SN - 1664-1078 IS - 8 ER - TY - GEN A1 - Reichstein, Thomas A1 - Brusch, Ines A1 - Dost, Florian A1 - Brusch, Michael ED - Cross, Samantha ED - Saboo, Alok T1 - Captivate Your Audience: Suggestions for Enhancing Social Media Engagement Through Captions T2 - AMA Winter Academic Conference Proceedings, St. Pete Beach, Florida, on February 23-25, 2024 N2 - Engagement is important for the success of social media offers. Accordingly, the goal of responsible social media managers is to generate the maximum engagement with their content. Extant research has already addressed the factors that are related to the creation of compelling content. However, very little attention has been paid to the caption, and thus to a part of the social media post that can be easily changed. Our aim is to measure the impact of caption characteristics on engagement. We use, text length, number of emojis, and hashtags as caption variables, as well as comments, likes, and shares as engagement variables. In two different datasets, one from a merchandise online store (Facebook, Study 1) and another from a travel influencer (Instagram, Study 2) we find a similar robust result: the analyses reveal s a non-linear relationship between caption text length and engagement that follows an inverted U-shape. It follows that, contrary to previous assumptions, longer captions of around 600 characters should be used to in¬crease engagement. Estimations show that an increase in engagement of about 20% is possible. Y1 - 2024 UR - https://www.ama.org/wp-content/uploads/2024/02/2024-Winter-AMA-Proceedings_Feb-28-2024.pdf SN - 978-0-87757-018-9 SP - 570 EP - 572 PB - American Marketing Association CY - Chicago, IL ER - TY - GEN A1 - Urbig, Diemo A1 - Dost, Florian A1 - Geiger, Ingmar T1 - Entrepreneurs misdiagnosing their ventures’ innovativeness: The roles of causation and effectuation T2 - 26th Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs, 2023 N2 - This text discusses the concept of misdiagnosis in entrepreneurial ventures, where managers' unrealistic optimism can lead to misaligned strategies and late pivots. The study explores the connection between misdiagnosis and decision logics (effectuation and causation) through motivated reasoning and beliefs. The researchers conducted a study with 266 ventures from innovative industries and measured misdiagnosis by comparing managers' judgments with external experts' assessments of venture innovativeness. The results show that causation logic positively influences misdiagnosis, but this effect is reduced when coupled with flexibility. The study highlights the importance of objective performance measures and suggests that motivated reasoning and beliefs explain the link between causation logic and misdiagnosis. Additionally, older and larger ventures with a prevalence of causation logic may experience more misdiagnosis and potential delays in innovation efforts. Flexibility is crucial for older ventures to remain innovative. KW - Entreprenuership KW - Effectuation KW - Overconfidence KW - Miscalibration Y1 - 2023 UR - https://www.researchgate.net/publication/379155859 UR - https://www.fgf-ev.de/wp-content/uploads/2023/09/G-Forum-2023-Programmgeruest_18-09-2023_Internet.pdf ER - TY - GEN A1 - Reichstein, Thomas A1 - Brusch, Ines A1 - Dost, Florian A1 - Brusch, Michael T1 - How To Optimize Your Social Media Caption To Generate More Engagement :) #Captionize #SocialMedia T2 - Proceedings of the European Marketing Academy, EMAC 2023 Annual, Odense, Denmark, May 24, 2023 N2 - Maximizing engagement is an important issue for social media managers. Science has already provided guidance on how to make content more engaging. However, one easy-to-edit part of the social media post has received little attention: The caption. We show that the caption has an underestimated impact on engagement and we specifically address text length. The relationship between text length and engagement is not linear as described in previous literature but follows an inverted U-shape. Using field data, we estimate the optimal length of captions and provide surprising results. We show that captions are mostly too short instead of too long and that an optimal length can increase the engagement rate by up to 17%. Y1 - 2023 UR - https://proceedings.emac-online.org/index.cfm?abstractid=A2023-114288&How%20To%20Optimize%20Your%20Social%20Media%20Caption%20To%20Gener PB - European Marketing Academy ER - TY - GEN A1 - Reichstein, Thomas A1 - Brusch, Ines A1 - Dost, Florian A1 - Brusch, Michael T1 - Maximizing Engagement Through Caption Optimization: Insights from Social Media Field Data T2 - 2023 ISMS Marketing Science Conference Proceedings N2 - Social media managers are constantly seeking ways to maximize engagement with their content. While prior research has shed light on strategies for creating engaging content, the impact of captions on engagement has been under-explored. Our study focuses specifically on the relationship between caption length and engagement in social media posts. Contrary to previous literature, we find that the relationship between caption length and engagement follows an inverted U-shape. Using field data from an omnichannel retailer (Facebook) and a travel influencer (Instagram), we determine the optimal caption length for maximizing engagement and present surprising results. Our results are robust for different model and identification specifications, indicating that captions are often too short, rather than too long, and that optimizing caption length in our case can increase engagement by up to 25%. These findings have important implications for social media managers and influencers seeking to enhance the impact of their posts. Y1 - 2023 UR - https://www.researchgate.net/publication/379237977 ER - TY - GEN A1 - Phieler, Ulrike A1 - Dost, Florian T1 - Does It Pay to Increase Public Messages in Nano-Influencer Campaigns? Investigating the Optimal Public Message Share for Sales and Return-On-Investment T2 - 2023 ISMS Marketing Science Conference Proceedings N2 - Online influencer marketing has matured, and many managers now seek better performance with nano-influencers in seeding campaigns. Compared to macro-influencers, nano-influencers create more private (direct online or offline) brand messages that supposedly deliver more “persuasive punch”. But such private messages lack the usual online tracking per message, forcing managers to ask nano-influencers for self-reports, or to estimate sales at a campaign level if they want to assess their own decisions. Therefore, little is known about how to set up effective nano-influencer campaigns: does it pay to increase the public message share in nano-influencer activity, in order to benefit from private and public influencer activity? Or does it defeat its purpose, diminishing nano-influencers’ persuasiveness and total campaign results? This study analyses a unique campaign-level data set of various seeded marketing campaigns comprising the activity of 700,000 nano-influencers. We model the impact of nano-influencers’ activity on incremental sales and return-on-investment (ROI) at the campaign level. To answer our questions, we include effects of public message share and optimal public message share and their interaction with activity; instrumenting both for identification, and controlling for campaign, marketing, and brand context. We find conditional optimal public message shares for both sales and ROI. The average campaign benefits most when increasing influencer activity (through design or incentives) at public message shares between 4% and 5%. This shows the importance of striking the right balance between nano� influencers’ online and offline activity, and suggests a similar balance for combining nano- and macro-influencers in future campaign formats Y1 - 2023 UR - https://www.researchgate.net/publication/379237391_Does_It_Pay_to_Increase_Public_Messages_in_Nano-Influencer_Campaigns_Investigating_the_Optimal_Public_Message_Share_for_Sales_and_Return-On-Investment PB - INFORMS ER - TY - GEN A1 - Phieler, Ulrike A1 - Dost, Florian T1 - Does It Pay to Increase Public Messages in Nano-Influencer Campaigns? Investigating the Optimal Public Message Share for Sales and Return-On-Investment T2 - 2023 ISMS Marketing Science Conference Proceedings N2 - Online influencer marketing has matured, and many managers now seek better performance with nano-influencers in seeding campaigns. Compared to macro-influencers, nano-influencers create more private (direct online or offline) brand messages that supposedly deliver more “persuasive punch”. But such private messages lack the usual online tracking per message, forcing managers to ask nano-influencers for self-reports, or to estimate sales at a campaign level if they want to assess their own decisions. Therefore, little is known about how to set up effective nano-influencer campaigns: does it pay to increase the public message share in nano-influencer activity, in order to benefit from private and public influencer activity? Or does it defeat its purpose, diminishing nano-influencers’ persuasiveness and total campaign results? This study analyses a unique campaign-level data set of various seeded marketing campaigns comprising the activity of 700,000 nano-influencers. We model the impact of nano-influencers’ activity on incremental sales and return-on-investment (ROI) at the campaign level. To answer our questions, we include effects of public message share and optimal public message share and their interaction with activity; instrumenting both for identification, and controlling for campaign, marketing, and brand context. We find conditional optimal public message shares for both sales and ROI. The average campaign benefits most when increasing influencer activity (through design or incentives) at public message shares between 4% and 5%. This shows the importance of striking the right balance between nano-influencers’ online and offline activity, and suggests a similar balance for combining nano- and macro-influencers in future campaign formats. Y1 - 2023 UR - https://www.researchgate.net/publication/379237391_Does_It_Pay_to_Increase_Public_Messages_in_Nano-Influencer_Campaigns_Investigating_the_Optimal_Public_Message_Share_for_Sales_and_Return-On-Investment ER - TY - GEN A1 - Boden, Joe A1 - Maier, Erik A1 - Dost, Florian T1 - The Effect of Electronic Shelf Labels on Store Revenue T2 - International Journal of Electronic Commerce N2 - Today’s retailers have a strategic imperative to integrate their channels. Some have implemented electronic shelf labels (ESL) to replace paper tags to technologically enable the omnichannel transformation by aligning the presentation of price and product information between online and offline channels. However, consumer reactions to ESL are yet unexplored. They could be positive or negative: on one hand, the fear of frequent price changes, a known phenomenon in e-commerce, could spread to offline channels and reduce consumer purchase intent and overall revenue; on the other hand, ESL could prevent showrooming by signaling price consistency and offering consistent information (e.g., including reviews) between the on- and offline channels. We explore a retailer data set that allows isolating the “mere ESL effect”, as the retailer’s pricing strategy remained unchanged over the introduction of ESL (i.e., no dynamic pricing), but the presentation of the price and product information was integrated through ESL. A difference-in-difference analysis establishes that revenue in product categories in which ESL was introduced grows at the expense of those product categories in which it was not introduced. Visitor numbers are not affected by introducing ESL. This finding supports the adoption of e-commerce capabilities in a brick-and-mortar store as it could help prevent shopper behavior aimed at exploiting channel differences (i.e., showrooming for price or more information). KW - multichannel retailing KW - online retail KW - pricing Y1 - 2020 U6 - https://doi.org/10.1080/10864415.2020.1806472 SN - 1557-9301 SN - 1086-4415 VL - 24 IS - 4 SP - 527 EP - 550 ER - TY - GEN A1 - Dost, Florian A1 - Phieler, Ulrike T1 - How To Set Up Seeded Marketing Campaigns with Offline-Focused Nano-Influencers That Create Engagement, Sales, and Return-On-Investment T2 - Reconnecting and reconceiving the marketplace : AMA Winter Academic Conference 2023 : AMA educators proceedings volume 34 : online, 6 February, Nashville, Tennessee, USA, 10 - 12 February 2023, part 1 N2 - Marketers know the majority of impactful product and brand recommendations happen in offline conversations. To become part of these conversations, marketers increasingly utilize thousands of nano-influencers---ordinary consumers who “buzz” about a brand---with specialized marketing formats: seeded marketing campaigns (SMCs). The idea is to equip a large number of nano-influencers with the product or brand to be marketed, then encourage them to share their brand experiences and excitement with their peers. Overall, the created seed activity from SMCs has been shown to increase sales (Dost et al. 2019, Chae et al. 2017, Godes and Mayzlin 2009) at comparably low cost, which makes SMCs an attractive marketing mix addition for managers. The key challenge with SMCs, and a major difference to marketing campaigns with professional online influencers, is that nano-influencer activity is not contractually specified, and managers cannot economically engage with thousands of nano-influencers individually. Instead, managers have to rely on their initial campaign setup decisions to activate nano-influencers. SMC setup comprises SMC size and selection (how many nano-influencers, and who from where to select?), SMC content (which products and incentives to send the nano-influencers?), and SMC timing (how long should the campaign run?). Managers actively seek advice from literature to improve their setup decisions; however, extant research offers them only incomplete setup recommendations. This leaves managers at a loss and complicates result- and cost-conscious campaigns set-ups. With a unique dataset of 148 SMCs comprising the activity of nearly 700,000 nano� influencers and covering about a twentieth of all SMCs in the EU during data collection, we comprehensively model how setup decisions affect all relevant campaign outcomes---seed activity, sales, cost, and return-on-investment---while considering marketing and brand context. Our cross-campaign data enables a comparison of various SMC setups to find out which of managers' available setup decisions aid in planning effective and/or efficient SMCs. Results show that campaign success lies mostly in managers' hands, as setup decisions show the highest impact on campaign outcomes. Brand context plays only a minor role---contrasting organic word-of-mouth settings. Marketing context, such as parallel advertising or product price, matter differently, depending on the campaign goal. We identify trade-offs between effective brand building (maximum seed activity), effective promotion (maximum sales), and efficient (maximum return-on-investment) campaigns, reconciling conflicting suggestions from extant research. Our model predicts that managers could increase seed activity by 97%, sales by 162%, or return-on-investment by 100% compared to current practice. Y1 - 2023 UR - https://www.ama.org/wp-content/uploads/2023/04/2023-Winter-AMA-Proceedings-4.19-1.pdf SN - 978-0-87757-015-8 SP - 194 EP - 196 PB - American Marketing Association CY - Chicago, ILL. ER - TY - GEN A1 - Dost, Florian A1 - Maier, Erik T1 - Promoting Price Discounts across Channels: The Role of Discount Level and Product Sales Frequency T2 - Proceedings of the European Marketing Academy, EMAC 2023 Annual, Odense, Denmark, May 24, 2023 N2 - The most common promotional activity are price discounts, and retailers have to choose whether to further promote their price discounts with ads in offline (e.g., print) or online (e.g., banner ads) channels. However, retail managers lack guidance for which promotional channel (offline or online) would support price discounts best and what types of products (high or low sales frequency) would benefit most. Using a field experiment, we disentangle the interacting effects of price discounts (at various discount levels) and their supporting promotional channel. We find that digi-tal promotions of price discounts are more effective than non-digital print campaigns to increase sales beyond the base price discount effect. In addition, the product’s sales frequency matters: rela-tively, digital promotions best support price-discounted low-sales-frequency products, and steeply discounted high-sales-frequency products receive additional support from offline ads. Y1 - 2023 UR - https://proceedings.emac-online.org/index.cfm?abstractid=A2023-114395&Promoting%20Price%20Discounts%20across%20Channels:%20The%20Rol SN - 2709-1589 PB - European Marketing Academy ER - TY - GEN A1 - Schmidt, Lennard A1 - Maier, Erik A1 - Dost, Florian T1 - Location-Based Interactions with Geographically Targeted Advertising T2 - Proceedings of the European Marketing Academy, Budapest, May 24 - 27, 2022 Y1 - 2022 UR - http://proceedings.emac-online.org/index.cfm?abstractid=A2022-107729&Location-Based%20Interactions%20with%20Geographically%20Ta PB - European Marketing Academy ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Analysing and visualising bike sharing demand with outliers T2 - arXiv N2 - Bike-sharing is a popular component of sustainable urban mobility. It requires anticipatory planning, e.g. of terminal locations and inventory, to balance expected demand and capacity. However, external factors such as extreme weather or glitches in public transport, can cause demand to deviate from baseline levels. Identifying such outliers keeps historic data reliable and improves forecasts. In this paper we show how outliers can be identified by clustering terminals and applying a functional depth analysis. We apply our analysis techniques to the Washington D.C. Capital Bikeshare data set as the running example throughout the paper, but our methodology is general by design. Furthermore, we offer an array of meaningful visualisations to communicate findings and highlight patterns in demand. Last but not least, we formulate managerial recommendations on how to use both the demand forecast and the identified outliers in the bike-sharing planning process. Y1 - 2022 U6 - https://doi.org/10.48550/arXiv.2204.06112 SP - 1 EP - 45 ER - TY - GEN A1 - Schmidt, Lennard A1 - Maier, Erik A1 - Dost, Florian T1 - Challenging the Location Paradigm: Parsimoniously Predicting Store Performance with Urban Scaling T2 - Proceedings of the European Marketing Academy (EMAC), 50th Annual Conference N2 - Location is considered the most important driver of retail store performance; hence, retailers invest in extensive location research, utilizing expensive rich data. This research proposes an alternative, singular, freely obtainable predictor for location potentials. Drawing on the system scaling literature outside of marketing, we suggest that measures of the urban scale in a store’s trading area are a substitute for a multitude of traditional location measures, such as demographic or socio-economic variables. We demonstrate that our scale measure, the route factor calculated from road map data, performs on par with a common set of traditional predictors in a large dataset of supermarket sales. Moreover, our theory correctly predicts, and the analysis shows, a collinearity problem that has gone unrecognized in traditional store performance models. We validate our approach on a second variety-store dataset that covers a wider range of location conditions for generalizability. KW - urban scaling KW - location KW - the place P Y1 - 2021 UR - http://proceedings.emac-online.org/index.cfm?abstractid=A2021-93928&Challenging%20the%20Location%20Paradigm:%20Parsimoniously SP - 1 EP - 10 ER - TY - GEN A1 - Dost, Florian A1 - Schmidt, Lennard A1 - Maier, Erik T1 - The Filter Curve: Uncovering p-Hacking from filtering T2 - Proceedings of the European Marketing Academy (EMAC), 50th Annual Conference N2 - Many empirical studies filter participants (e.g., for incorrect attention checks or quick re-sponses), especially when using participant pools such as Amazon MTurk. Yet, there is no consensus on whether and how to filter. This might originate from different perspectives on filtering participants: it may be evaluated positively (e.g., as it might be necessary to prevent inattentive participants from biasing results) or negatively (e.g., as it may enable p-hacking). This research aims to bridge these opposites: first, we empirically compare the effects of different filters and filter levels on validity, reliability, power and effects sizes of the results. Second, we introduce the Filter Curve and our R-package “FiltR” as a means to recognize filtering which might be used to p-hack results. We suggest that filtering is not per se bad – although some filters decrease reliability and validity – but that researchers should be trans-parent in how sensitive results are for different filter combinations. KW - p hacking Y1 - 2021 UR - http://proceedings.emac-online.org/index.cfm?abstractid=A2021-94598&The%20Filter%20Curve:%20Uncovering%20p-Hacking%20from%20filter SP - 1 EP - 8 ER - TY - GEN A1 - Werner, Bastian A1 - Dost, Florian T1 - Behavioral Pricing and Innovative Pricing Mechanisms in Purchase Decisions- a Review and Recommandations for Future Research T2 - Proceedings of the European Marketing Academy, EMAC 2023 Annual, Odense, Denmark, May 24, 2023 KW - Pricing Y1 - 2023 UR - https://proceedings.emac-online.org/index.cfm?abstractid=A2023-114482&Behavioral%20Pricing%20and%20Innovative%20Pricing%20Mechanis ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Identifying and responding to outlier demand in revenue management T2 - European Journal of Operational Research N2 - Revenue management strongly relies on accurate forecasts. Thus, when extraordinary events cause outlier demand, revenue management systems need to recognise this and adapt both forecast and controls. Many passenger transport service providers, such as railways and airlines, control the sale of tickets through revenue management. State-of-the-art systems in these industries rely on analyst expertise to identify outlier demand both online (within the booking horizon) and offline (in hindsight). So far, little research focuses on automating and evaluating the detection of outlier demand in this context. To remedy this, we propose a novel approach, which detects outliers using functional data analysis in combination with time series extrapolation. We evaluate the approach in a simulation framework, which generates outliers by varying the demand model. The results show that functional outlier detection yields better detection rates than alternative approaches for both online and offline analyses. Depending on the category of outliers, extrapolation further increases online detection performance. We also apply the procedure to a set of empirical data to demonstrate its practical implications. By evaluating the full feedback-driven system of forecast and optimisation, we generate insight on the asymmetric effects of positive and negative demand outliers. We show that identifying instances of outlier demand and adjusting the forecast in a timely fashion substantially increases revenue compared to what is earned when ignoring outliers. Y1 - 2021 U6 - https://doi.org/10.1016/j.ejor.2021.01.002 VL - 293 IS - 3 SP - 1015 EP - 1030 ER - TY - GEN A1 - Geiger, Ingmar A1 - Dost, Florian A1 - Schönhoff, Alejandro A1 - Kleinaltenkamp, Michael T1 - Which types of multi-stage marketing increase direct customers’ willingness-to-pay? Evidence from a scenario-based experiment in a B2B setting T2 - Industrial Marketing Management Y1 - 2015 U6 - https://doi.org/10.1016/j.indmarman.2015.02.042 SN - 0019-8501 VL - 47 IS - 2 SP - 175 EP - 189 ER - TY - GEN A1 - Dost, Florian A1 - Geiger, Ingmar T1 - Value-based pricing in competitive situations with multi-product price-response maps T2 - Journal of Business Research Y1 - 2017 U6 - https://doi.org/10.1016/j.jbusres.2017.01.004 SN - 0148- 2963 VL - 76 SP - 219 EP - 236 ER - TY - GEN A1 - Maier, Erik A1 - Dost, Florian T1 - The positive effect of contextual image backgrounds on fluency and liking T2 - Journal of Retailing and Consumer Services Y1 - 2018 U6 - https://doi.org/10.1016/j.jretconser.2017.09.003 SN - 0969-6989 VL - 40 SP - 109 EP - 116 ER - TY - GEN A1 - Frese, Tobias A1 - Geiger, Ingmar A1 - Dost, Florian T1 - An empirical investigation of determinants of effectual and causal decision logics in online and high-tech start-up firms T2 - Small Business Economics Y1 - 2020 U6 - https://doi.org/10.1007/s11187-019-00147-8 SN - 1573-0913 VL - 54 IS - 3 SP - 641 EP - 664 ER - TY - GEN A1 - Pannhorst, Matthias A1 - Dost, Florian T1 - Marketing innovations to old-age consumers: A dynamic Bass model for different life stages T2 - Technological Forecasting and Social Change Y1 - 2019 U6 - https://doi.org/10.1016/j.techfore.2018.12.022 SN - ‎0040-1625 VL - 140 IS - 2 SP - 315 EP - 327 ER - TY - GEN A1 - Dost, Florian A1 - Maier, Erik T1 - E-Commerce Effects on Energy Consumption – A Multi-Year Ecosystem-Level Assessment T2 - Journal of Industrial Ecology Y1 - 2018 U6 - https://doi.org/10.1111/jiec.12639 SN - 1530-9290 VL - 22 IS - 4 SP - 799 EP - 812 ER - TY - GEN A1 - Dost, Florian A1 - Sievert, Jens A1 - Kassim, David T1 - Revisiting firm-created word of mouth: High-value versus low-value seed selection T2 - International Journal of Research in Marketing Y1 - 2016 U6 - https://doi.org/10.1016/j.ijresmar.2016.01.002 SN - 0167-8116 VL - 33 IS - 1 SP - 236 EP - 239 ER - TY - GEN A1 - Dost, Florian A1 - Phieler, Ulrike A1 - Haenlein, Michael A1 - Libai, Barak T1 - Seeding as Part of the Marketing Mix: Word-of-Mouth Program Interactions for Fast Moving Consumer Goods T2 - Journal of Marketing Y1 - 2019 U6 - https://doi.org/10.1177/0022242918817000 SN - 0022-2429 VL - 83 IS - 2 SP - 62 EP - 81 ER - TY - GEN A1 - Tarrahi, Farid A1 - Eisend, Martin A1 - Dost, Florian T1 - A meta-analysis of price change fairness perceptions T2 - International Journal of Research in Marketing Y1 - 2016 U6 - https://doi.org/10.1016/j.ijresmar.2015.10.004 SN - 0167-8116 VL - 33 IS - 1 SP - 199 EP - 203 ER - TY - GEN A1 - Söllner, Johanna A1 - Dost, Florian T1 - Exploring the Selective Use of Ad Blockers and Testing Banner Appeals to Reduce Ad Blocking T2 - Journal of Advertising Y1 - 2019 U6 - https://doi.org/10.1080/00913367.2019.1613699 SN - 1557-7805 VL - 48 IS - 3 SP - 302 EP - 312 ER - TY - GEN A1 - Dost, Florian T1 - A non-linear causal network of marketing channel system structure T2 - Journal of Retailing and Consumer Services Y1 - 2015 U6 - https://doi.org/10.1016/j.jretconser.2014.11.005 SN - 0969-6989 VL - 23 SP - 49 EP - 57 ER - TY - GEN A1 - Maier, Erik A1 - Dost, Florian T1 - Fluent Contextual Image Backgrounds Enhance Mental Imagery and Evaluations of Experience Products T2 - Journal of Retailing and Consumer Services Y1 - 2018 U6 - https://doi.org/https://doi.org/10.1016/j.jretconser.2018.09.006 SN - 0969-6989 VL - 45 SP - 207 EP - 220 ER - TY - GEN A1 - Lau, Vanessa A1 - Dost, Florian T1 - Approaching Very Old People: Rely on Traditions and Don't Forget to Call T2 - Proceedings of the International Conference Marketing Trends N2 - Recent findings show that individuals aged 55 and older use more and more online media and digital technologies; however, this may be biased as only those using these media and technologies may be reacting to the surveys documenting the proliferation of digital media. This might be particularly pronounced for older people affected by one or several divides, such as the urban-rural digital divide, economic divides, or the grey divide between young and old demographics. Here, we design a project to survey them—with the help of a citizen science approach in several small German cities. Results show fewer online and digital information sources and communication channels are used than expected, except for messengers. Interestingly, there is substantial heterogeneity within the older group, as adults aged 52 to 74 and those aged 74 to 85 differ in media use and preference. KW - older adults KW - information search medium KW - communication behavior KW - rural areas Y1 - 2024 UR - https://archives.marketing-trends-congress.com/2024/pages/PDF/31.pdf SN - 978-2-490372-18-8 ER - TY - GEN A1 - Schmidt, Lennard A1 - Dost, Florian A1 - Maier, Erik T1 - Filtering Survey Responses from Crowdsourcing Platforms: Current Heuristics and Alternative Approaches T2 - International Conference on Information Systems N2 - Information Systems research continues to rely on survey participants from crowdsourcing platforms (e.g., Amazon MTurk). Satisficing behavior of these survey participants may reduce attention and threaten validity. To address this, the current research paradigm mandates excluding participants through filtering heuristics (e.g., time, instructional manipulation checks). Yet, both the selection of the filter and the filtering threshold are not standardized. This flexibility may lead to suboptimal filtering and potentially “p-hacking”, as researchers can pick the most “successful” filter. This research is the first to tests a comprehensive set of established and new filters against key metrics (validity, reliability, effect size, power). Additionally, we introduce a multivariate machine learning approach to identify inattentive participants. We find that while filtering heuristics require high filter levels (33% or 66% of participants), machine learning filters are often superior, especially at lower filter levels. Their “black box” character may also help prevent strategic filtering. KW - Survey Research KW - Filtering KW - Amazon MTurk KW - Reliability KW - Validity KW - Effect Size Y1 - 2019 UR - https://aisel.aisnet.org/icis2019/research_methods/research_methods/8 ER - TY - GEN A1 - Wilken, Robert A1 - Schmitt, Julien A1 - Dost, Florian A1 - Bürgin, David T1 - Does the presentation of true costs at the point of purchase nudge consumers toward sustainable product options? T2 - Marketing Letters N2 - Do true cost campaigns (TCCs)—which display prices at the point of purchase that include social and environmental negative externalities—nudge consumers toward more expensive sustainable products? From a theoretical point of view, the answer is promising: Communicating true costs means introducing external reference prices that provide a benchmark for consumers to assess price acceptability. Showing true costs triggers a general reference to the price of sustainability, and the higher price of sustainable products becomes at least partially explained by their lower “hidden costs” (i.e., costs to compensate for all environmental and social impacts). In two empirical studies, we demonstrate that for TCCs to be effective, the hidden costs for the sustainable products must be lower than those for the conventional alternatives. Interestingly, under this condition, TCCs have an effect in markets characterized by a larger (study 1) and a smaller (study 2) green gap. In both studies, we find that increased perceived price fairness explains the effect of TCCs, as measured by the relative preference for the sustainable compared to the conventional product. In addition, we see that the price difference between the two products plays a significant role in forming this preference judgment, independent of other factors included in the model and especially independent of TCC. KW - Marketing KW - Economics and Econometrics KW - Business and International Management Y1 - 2024 U6 - https://doi.org/10.1007/s11002-023-09713-3 SN - 0923-0645 SP - 1 EP - 14 ER - TY - GEN A1 - Dost, Florian A1 - Maier, Erik A1 - Bijmolt, Tammo T1 - Empirical Dynamic Modelling For Exploring Complex Time Series T2 - 2022 ISMS Marketing Science Conference Proceedings N2 - Many research problems are characterized by complex relationships between time series variables, such as simultaneity (e.g., feedback loops between communication channels) and state-dependence (e.g., marketing interactions with observed and unobserved sales channel variables). We introduce empirical dynamic models (EDM) to management science and marketing research. EDM is a nonlinear methodology that helps researchers to investigate simultaneous (i.e., bidirectional and same-period) and state-dependent (i.e., nonlinear and interacting) relationships with aggregate time series data. The authors demonstrate EDM capabilities and boundaries within the challenging omnichannel case. To study omnichannel systems, researchers often must rely on aggregate data: Despite more individual tracking, the data is often not available for offline channels or comprehensively integrated across channels. A simulation study, that derives aggregate time series from an individual data generation mechanism, explores conditions and boundaries under which EDM is suitable for identifying relationships between variables (i.e. in the Granger sense), predicting variable evolution (i.e. in the Machine Learning sense), and attributing marginal effects from one variable on another (i.e. in the Neyman-Rubin sense). We benchmark EDM against vector autoregression, regression, and machine learning models and provide application criteria for EDM. Next, we confirm the capabilities of EDM in an empirical investigation of interrelated brick-and-mortar, online, and mobile channels from a large European fashion retailer, finding evidence for mostly synergetic but strongly state-dependent relationships among the channels. Y1 - 2022 UR - https://www.researchgate.net/publication/379237908 ER - TY - GEN A1 - Dost, Florian A1 - Maier, Erik A1 - Bijmolt, Tammo T1 - Empirical Dynamic Modelling for Exploring Complex Time Series in Management and Marketing Research T2 - SSRN eLibrary N2 - Many research problems are characterized by complex relationships between time series variables, such as simultaneity (e.g., feedback loops between communication channels) and state-dependence (e.g., marketing interactions with observed and unobserved sales channel variables). The authors introduce empirical dynamic models (EDM) to management and marketing research. EDM is a nonlinear methodology that helps researchers to investigate simultaneous (i.e., bidirectional and same-period) and state-dependent (i.e., nonlinear and interacting) relationships with aggregate time series data. The authors demonstrate EDM capabilities and boundaries within the challenging omnichannel case. To study omnichannel systems, researchers often must rely on aggregate data: Despite more individual tracking, the data is often not available for offline channels or comprehensively integrated across channels. A simulation study, that derives aggregate time series from an individual data generation mechanism, explores conditions and boundaries under which EDM is suitable for identifying, predicting and attributing relationships between variables. We benchmark EDM against vector autoregression, regression, and machine learning models and provide application criteria for EDM. Next, the authors confirm the capabilities of EDM in an empirical investigation of interrelated brick-and-mortar, online, and mobile channels from a large European fashion retailer, finding evidence for mostly synergetic but strongly state-dependent relationships among the channels. KW - Empirical dynamic models KW - nonlinear time series models KW - omnichannel system KW - customer journey Y1 - 2022 U6 - https://doi.org/10.2139/ssrn.4036834 SN - 1556-5068 SP - 1 EP - 49 ER - TY - GEN A1 - Schmidt, Lennard A1 - Maier, Erik A1 - Dost, Florian T1 - Retail Location Assessment with Urban Scaling T2 - SSRN eLibrary N2 - Location is an impactful but irrevocable driver of retail store performance. Unless retailers rely on their gut feelings for finding high potential locations, they have to invest in extensive location research, calibrating performance models on expensive rich data (e.g., income or education of households in each prospective trading area). To prevent “the death of the high street”, also public administrators care for location potentials. This research proposes a parsimonious new model for location potentials, drawing from emerging urban scaling literature outside of marketing. We show that a measure of the local urban scale explains stores’ sales, local competitive intensity, and defining aspects of store lifecycles (managers’ location choice, sales ramp-up to a steady state after opening, store closure). We demonstrate these capabilities of the scaling approach using six datasets, including data from two retail chains (grocery and variety stores), public data, map data, and an experiment with retail managers. Our parsimonious model compares well to more complex multivariate benchmarks and remains more robust across modeling choices. We put forth a scale measure that can be cheaply obtained from map data, offering accessible applications for retail and public policy managers (e.g., “heat maps” across all potential locations in a city) and to marketing research in general (e.g., as input or control variable for geo or mobile marketing). Y1 - 2021 U6 - https://doi.org/10.2139/ssrn.3738003 SN - 1556-5068 SP - 1 EP - 70 ER - TY - GEN A1 - Dost, Florian A1 - Wilken, Robert A1 - Eisenbeiß, Maik A1 - Skiera, Bernd T1 - On the Edge of Buying – A Targeting Approach Based on Consumers’ Willingness-to-pay Ranges T2 - Journal of Retailing Y1 - 2014 U6 - https://doi.org/10.1016/j.jretai.2014.03.007 SN - 0022-4359 VL - 90 IS - 3 SP - 393 EP - 407 ER - TY - GEN A1 - Maier, Erik A1 - Wilken, Robert A1 - Dost, Florian T1 - The double benefits of consumer certainty: combining risk and range effects T2 - Marketing Letters Y1 - 2015 U6 - https://doi.org/10.1007/s11002-014-9282-5 SN - 1573-059X VL - 26 IS - 4 SP - 473 EP - 488 ER - TY - GEN A1 - Dost, Florian A1 - Wilken, Robert T1 - Measuring Willingness to Pay as a Range, Revisited: When Should We Care? T2 - International Journal of Research in Marketing Y1 - 2012 U6 - https://doi.org/10.1016/j.ijresmar.2011.09.003 SN - 0167-8116 VL - 29 IS - 2 SP - 148 EP - 166 ER - TY - GEN A1 - Werner, Bastian A1 - Dost, Florian A1 - Ahmed, Sheraz T1 - Der Einfluss von partizipativen Preismechanismen auf die Kaufentscheidung ein empirischer Vergleich von PWYW , PYP und Festpreis am Beispiel dreier Konsumprodukte T2 - Proceedings International Marketing Trends Conference 2024, Venice N2 - In a time of inflation, stagnant sales, and intense global competition, companies must differentiate themselves from their rivals to gain a competitive advantage. One intriguing strategy for this is the emerging Pick-Your-Price (PYP) mechanism, which, similar to the well-known Pay-What-You-Want (PWYW), is considered a participative pricing mechanism that enables buyers to significantly impact the price. Buyers prefer actively participating in the pricing process instead of passively accepting fixed prices. Their participation also enhances perceptions of fairness and satisfaction. However, which pricing mechanism - fixed price, PWYP, or PYP - should companies use to optimize purchase intent and expected payments? To address this, an online experiment was carried out, and ANOVA and mediation analysis were employed. This research investigates pricing strategies implemented on products of varying price levels (deodorant, smartphone, car) to evaluate their effects on purchase intention, expected payment, and buyers' perceptions of control, effort, and fairness throughout the purchase process. Results indicate that PWYW generates higher ratings for price control, cognitive effort, and purchase intention, while the highest payment expectation comes from PYP. Furthermore, the study shows that perceived control most significantly influences purchase intention and expected payment, followed by effort and fairness. We discuss implications for both researchers and practitioners. N2 - In Zeiten von Inflation, stagnierenden Umsätzen und intensivem globalen Wettbewerb müssen Unternehmen sich von ihren Konkurrenten abheben, um Wettbewerbsvorteile zu erzielen . Ein interessanter Ansatz hierbei ist der neu entstandene Pick Your Price (PYP) Mechanismus, der ähnlich wie das bekannte Pay What You Want (PWYW) als partizipativer Preisbildungsmechanismus gilt und den Käufern die Möglichkeit g ibt den Preis massiv zu beeinflussen Käufer bevorzugen eine aktive Beteiligung am Preisbildungsprozess anstelle des passiven Akzeptierens fester Preise. Eine Teilnahme der Käufer an diesem Prozess erhöht zudem ihre Wahrnehmung von Fairness und Zufriedenheit. Allerdings stellt sich die Frage, welcher Preismechanismus Festpreis, PWYP oder PYP von Unternehmen genutzt werden sollte, um die Kaufabsicht und erwarteten Zahlungen zu optimieren. Um diese Frage zu beantworten, wurde ein Online Experiment durchgeführt und mittels ANOVA und Mediationsanalyse ausgewertet. Die se Studie vergl eicht d ie genannten Strategien anhand von Produkten mit unterschiedlichen Preisniveaus (Deodorant, Smartphone, Auto). Ziel war es, die Auswirkungen der Preismechanismen auf die Kaufabsicht, die erwarteten Zahlungen und die Wahrnehmung der Käufer in Bezug auf Kontrolle , A ufwand und Fairness, während des Kaufprozesses zu bewerten. Die Ergebnisse zeigen, dass PWYW die höchsten Werte für Preiskontrolle, kognitiven Aufwand und Kaufabsicht liefert. Die höchste Zahlungserwartung wurde hingegen für PYP ermittelt. Darüber hinaus zeigt diese Stud ie, dass die wahrgenommene Kontrolle die Kaufabsicht und die erwartete Zahlung am stärksten beeinflusst , gefolgt von Aufwand und Fairness. Weiterhin werden Erkenntnisse für Forscher und Praktiker diskutiert. T2 - The Influence of Participative Pricing Mechanisms on Purchase Decisions - an empirical Comparison of PWYW, PYP, and Fixed Price using three selected consumer products KW - Participative Pricing Mechanismse KW - Purchase Decision KW - PWYW KW - PYP KW - Pricing Y1 - 2024 UR - https://archives.marketing-trends-congress.com/2024/pages/PDF/111.pdf SN - 978-2-490372-18-8 ER - TY - GEN A1 - Reichstein, Thomas A1 - Dost, Florian T1 - Attention please! How attention drives social media engagement T2 - Proceedings International Marketing Trends Conference 2024, Venice N2 - Social media has become an integral part of Internet usage, with billions of users worldwide. Therefore, it is increasingly important for marketers to understand how to optimize one of the most important variables for success: Engagement. This study examines the relationship between user attention and engagement on social media, considering the effect of caption text length and emojis. Using an eye-tracking experiment, we measure user attention and engagement (likes, clicks, comments) for 161 social media posts. Our results confirm that attention affects engagement. Furthermore, we show that text length and emojis moderate this relationship. This study makes an important contribution to understanding one of the most important mechanisms for driving engagement. KW - Eye-Tracking KW - Social Media KW - Engagement Y1 - 2024 UR - https://archives.marketing-trends-congress.com/2024/pages/PDF/37.pdf SN - 978-2-490372-18-8 ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Detecting outlier demand in railway networks T2 - 5th AIRO Young Workshop at Università degli Studi di Napoli Federico II, Italy N2 - Transport service providers, such as airlines and railways, often use revenue manage-ment to control offers and demand in mobility networks. Such systems rely on accu-rate demand forecasts as input for the underlying optimisation models. When changes in the market place cause demand to deviate from the expected values, revenue man-agement controls no longer fit for the resulting outliers. Analysts can intervene if they deem the demand forecast to be inaccurate. However, existing research on judgemen-tal forecasting highlights fallibility and bias when human decision makers are not sys-tematically supported in such tasks. This motivates the need for automated alerts to highlight outliers and thereby support analysts. Network effects complicate the problem of detecting outlier demand in practice. Pas-sengers often book travel itineraries that stretch across multiple legs of a network. Thereby, they requests products that require multiple resources – seats on several legs. In the rail and long-distance coach industries, the large number of possible itiner-aries makes it likely for outlier demand to affect multiple legs. At the same time, outli-er demand from a single itinerary may be difficult to recognise as it mixes with regular demand on individual legs. To support outlier detection in transport networks, we pre-sent a method to aggregates outlier detection across highly correlated legs. We propose to use the results of this analysis to construct a ranked alert list that can support ana-lyst decision making. We show that by aggregating we are able to improve detection performance compared to considering each leg in isolation. Y1 - 2021 UR - https://nrennie.rbind.io/talks/2021-february-airoyoung/slides.pdf VL - 5 ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Detecting outlying demand in multi-leg bookings for transportation networks T2 - 31st European Conference on Operational Research (EURO) Proceedings N2 - Network effects complicate transport demand forecasting in general and outlier detection in particular. For example, a sudden increase in demand for a specific destination will not only affect the legs arriving at that destination, but also connected legs nearby in the network. Network effects are particularly strong when service providers, such as railway or coach companies, offer many multi-leg itineraries. In such situations, automated alerts can help analysts to adjust demand forecasts and enable reliable planning. In this presentation, we outline a novel two-step method for automatically detecting outlying demand from transportation network book� ings. The first step clusters network legs according to the observed booking patterns. The second step identifies outliers within each cluster to create a ranked alert list of affected legs. We illustrate the method using empirical data obtained from Deutsche Bahn. In addition, we present a detailed simulation study that quantifies the improvement from the clustering step and implications of ranking to measure the criticality of the outliers. Our results show that the proposed approach outperforms independently analysing each leg, especially in highly connected networks where most passengers book multi-leg itineraries. Y1 - 2021 UR - https://www.euro-online.org/conf/admin/tmp/program-euro31.pdf UR - https://nrennie.rbind.io/talks/2021-july-euro2021/slides.pdf VL - 31 ER - TY - GEN A1 - Dost, Florian T1 - Bidirectional Links between Aggregate Advertising and Goods Consumption at the National Level T2 - 46th Eurasia Business and Economics Society Conference Book N2 - A longstanding question in marketing and economics is whether all of advertising affects aggregate consumption. If it does not, the advertising–consumption system would be a zero-sum game; if it does, advertising can grow markets and represents an economic force of interest for marketing, economics, and public policy. Ashley, Granger, and Schmalensee (1980) test advertising’s potential causal impact on aggregate goods consumption. Challenging prior empirical studies that suggested advertising drives aggregate consumption (Taylor & Weiserbs, 1972), Ashley et al. show that advertising does not influence consumption; rather, consumption causes advertising in a landmark methodological study of the Granger causality test. Yet recent conceptualizations suggests this empirical result and especially the linear autoregression-based Granger method to be inconclusive. Wilkie and Moore (1999) propose a complex aggregate systems view to discussing macro impacts of marketing, and in such systems the Granger tests typically fails (Sugihara et al. 2012). The present research extends prior studies with a new more appropriate nonlinear method (convergence cross-mapping) to test the causal links between television or digital advertising and three types of aggregate consumption—durables, non-durables, and service consumption. The novel test, unlike the Granger causality test, confirms the existence of a bidirectional causal link between advertising and aggregate goods consumption. Specifically, and similar to the brand level, advertising effects on consumption are stronger for durable than for non-durable goods. KW - Marketing System, Aggregate Consumption, Convergent Cross-Mapping Y1 - 2024 UR - http://www.karyailmiah.trisakti.ac.id/uploads/kilmiah/dosen/46th_EBES_Conference_Program_and_Abstract_Book_(1).pdf SN - 978-605-71739-6-6 SP - 99 PB - EBES CY - Istanbul - Turkey ET - 1 ER - TY - GEN A1 - Peng, Yingying A1 - Dost, Florian A1 - Lukas, Bryan A1 - Homburg, Christian ED - Cross, Samantha ED - Saboo, Alok T1 - Four Types of Information Interplay in Product Reviews and their Sales Effects T2 - 2024 AMA Winter Academic Conference Proceedings N2 - Consumer decision-making is influenced by user-generated information in reviews of products and services. We predict that sales levels are associated with two forms, respectively, of information inconsistency (confliction and competition) and consistency (confirmation and complementary) often found in product and service reviews. For our investigation, we classified information contained in tablet computer reviews as conflicting, competing, confirming, or complementing using BERT (Bidirectional Encoder Representations from Transformers) and word2vec (Word to Vector) techniques. Estimating an aggregated-level sales rank model over a 24-week period on reviews and sales data obtained from Amazon, we show that variations in tablet sales can be partially explained with our information classification. These findings provide new insights for user-generated content research. Y1 - 2024 UR - https://www.ama.org/wp-content/uploads/2024/02/2024-Winter-AMA-Proceedings_Feb-28-2024.pdf SN - 978-0-87757-018-9 SP - 604 EP - 606 ER - TY - GEN A1 - Rennie, Nicola A1 - Cleophas, Catherine A1 - Sykulski, Adam A1 - Dost, Florian T1 - Outlier detection in network revenue management T2 - OR Spectrum N2 - This paper presents an automated approach for providing ranked lists of outliers in observed demand to support analysts in network revenue management. Such network revenue management, e.g. for railway itineraries, needs accurate demand forecasts. However, demand outliers across or in parts of a network complicate accurate demand forecasting, and the network structure makes such demand outliers hard to detect. We propose a two-step approach combining clustering with functional outlier detection to identify outlying demand from network bookings observed on the leg level. The first step clusters legs to appropriately partition and pools booking patterns. The second step identifies outliers within each cluster and uses a novel aggregation method across legs to create a ranked alert list of affected instances. Our method outperforms analyses that consider leg data without regard for network implications and offers a computationally efficient alternative to storing and analysing all data on the itinerary level, especially in highly-connected networks where most customers book multi-leg products. A simulation study demonstrates the robustness of the approach and quantifies the potential revenue benefits from adjusting demand forecasts for offer optimisation. Finally, we illustrate the applicability based on empirical data obtained from Deutsche Bahn. KW - Analytics KW - Forecasting KW - Outlier Detection KW - Clustering Y1 - 2023 U6 - https://doi.org/10.1007/s00291-023-00714-2 SN - 0171-6468 ER - TY - CHAP A1 - Dost, Florian A1 - Wilken, Robert ED - Enke, Margit ED - Geigenmüller, Anja ED - Leischnig, Alexander T1 - A Behavioral Approach to Pricing in Commodity Markets: Dual Processing of Prices within and around Willingness-to-Pay Ranges T2 - Commodity Marketing - Strategies, Concepts, and Cases N2 - Many behavioral heuristics are fast and frugal ways for buyers to cope with uncertainty. Therefore, the extent to which pricing can rely on heuristic consumer reactions depends on the specifics and the extent of uncertainties in the market. In markets with a high degree of commoditization, uncertainties about the product are by definition low. However, as buyers are also uncertain about their own preferences, behavioral approaches can explain consumer reactions to price, even in a context of commoditization. In this chapter, we propose and test a dual process framework for pricing around buyers’ reservation prices. Such a dual process includes both rational and heuristic modes of choice. According to our framework, reactions to prices are more or less influenced by heuristic choice, depending on their relation to a buyers’ reservation price. This framework can explain the interrelations between rational and heuristic modes of choice, willingness-to-pay ranges, and latitudes of price acceptance. We also base a set of pricing and combined price-and-communication strategies on this framework. One interesting implication is that these pricing strategies are specific to target groups among buyers: as preferences and reservation prices are heterogeneous even in commodity markets, there are different potential buyers with a more rational or more heuristic mode of choice, for every price imaginable. KW - WTP range KW - dual process pricing Y1 - 2022 SN - 978-3-030-90656-6 SN - 978-3-030-90657-3 U6 - https://doi.org/10.1007/978-3-030-90657-3_6 SN - 2192-8096 SN - 2192-810X SP - 105 EP - 117 PB - Springer CY - Wiesbaden ET - 1st edition ER - TY - GEN A1 - Isaak, Karina A1 - Wilken, Robert A1 - Dost, Florian A1 - Bürgin, David T1 - Improving pricing scope through consumers’ construal level – evidence based on consumers’ willingness-to-pay ranges T2 - Die Unternehmung N2 - How can the pricing scope be further leveraged in times of increased price transparency and growing price awareness on the consumer side? To answer this question, this paper uses the concept of willingness-to-pay ranges (as opposed to points). Three quantit� ative studies show that various marketing activities that allow con� sumers to assess a product on a more abstract (less concrete) level shift the upper limits of the intervals upwards and thus increase the scope for price setting. These (price) upper limits are particularly high when the central product advantages are emphasized. Y1 - 2020 U6 - https://doi.org/10.5771/0042-059X-2020-4-365 SN - 0042-059X SN - 0042-059x VL - 74 IS - 4 SP - 365 EP - 383 ER -