Search results

For several years, the classic car market has been attracting considerable media and public attention, but the research literature is virtually nonexistent. The purpose of this paper is to address the factors that determine the values of classic car models and explain the remarkable price differences among them.

The paper develops and tests a set of research hypotheses about the effects of model characteristics on market values in the context of a generalized hedonic price model that also accounts for heterogeneity among classic car brands.

It is demonstrated that classic car model values reside at several levels and are determined by observable characteristics pertaining to aesthetics, rarity, engineering and performance. In addition, we show that classic car marques play a critical role in the determination of model values and account for considerable variation in values, even after controlling for observable model attributes

This is one of the first empirical studies to address classic car model value formation. The findings reveal how measurable, observable factors determine classic car model values and augment our understanding of a very interesting but understudied market.

Nutrition labelling of food products has received considerable attention in the marketing literature due to increasing consumer interest in health and diet issues. Nutrition labelling of food products is intended to enable informed consumer choices and stimulate the consumption and production of healthful products. Reviews nutrition labelling research, organises the literature, and discusses implications for policy makers, managers and researchers. Analysis of the literature suggests heterogeneous utilisation and comprehension of on‐pack nutrition information by consumers. The effectiveness of nutrition labelling depends also on the organisation and presentation of the information, implying the importance of regulatory issues. The topic is rich in public and marketing policy implications and provides several opportunities for further research.

The purpose of this paper is to consider how product characteristics, segment differences, and brand‐name effects determine the price structure of the new car market.

The authors design and implement a hedonic price model that includes functional characteristics and addresses segment and brand heterogeneity.

The application of the model to an extensive dataset supports the hypotheses of segment differences and brand‐name effects. In mainstream segments automobile prices are determined more completely by functional characteristics. In high‐end segments carmakers follow implicit premium pricing strategies. The brand‐name effects reflect the incremental value added to a car by its brand name. Prestige brands not only earn brand‐name premia but also seize high‐margin market segments.

Several issues await investigation including possible discrepancies between the primary and secondary market, inter‐temporal change, and differences in attribute value across segments and marques.

The study has clear implications for auto manufactures, distributors and advertisers. It demonstrates the role of brands, segments, and observed product differences in the price structure of the automobile market. The proposed approach also allows managers to appraise new concepts and determine market‐driven prices.

The paper provides new interesting insights into critical issues for pricing strategy and brand management. It demonstrates the return on investment in brand building and identifies considerable opportunities for future research.

The automobile industry is a key contributor to the GDP in most developed countries. Whilst studies have mainly focused on new car markets, this research aims to investigate how consumers' socio-demographic profile impacts on the decision to buy used or new cars across different automobile segments.

The study focuses on a major car market in Europe, France. The data were obtained from the French Institute of Statistics (INSEE), consisting of a representative sample of 1,967 French households who bought a new or used car within a year of this study. The paper is based on random utility theory and applies multinomial logit modeling.

The findings suggest that economic, individual, household characteristics impact on car segment choice, as well as the decision of whether to buy a new or a used car.

This is one of the few studies investigating the demand for new and used cars in conjunction across car segments in a European context. It provides important insights into consumer choice in a mature market.

The study investigates the cross-format shopping behaviour in the apparel sector. The purpose of this paper is to relate the number of store formats patronized to a set of consumer characteristics under a unifying theoretical framework emphasising cost-benefit analysis.

The research involved questionnaire telephone surveys from a sample of 1,722 apparel shoppers in a European region.

Among shoppers’ socio-demographic characteristics, age, gender, employment status and citizenship were found to have an impact on multi-store format patronage patterns for apparel purchases. Moreover, the store format preference and the sale proneness proved to be additional determinants of cross-format mobility.

The findings provide retail managers with valuable insights for effective marketing strategies aimed to exploit customer loyalty potential.

Despite consumers’ regular use of various alternative store formats for apparel purchases, literature on the determinants of cross-format mobility is scarce. Addressing the inter-type cross-shopping behaviour of consumers from a cost-benefit viewpoint, this study makes a new contribution in the area of customer loyalty and the complementarity and substitutability of store formats.

The purpose of this paper is to develop a comprehensive set of grocery store attributes that can be standardized and used in empirical research aiming at increasing retailers’ understanding of determinants of grocery store choice, and assessing how the relative importance of the attributes is affected by consumer socio-demographic characteristics and shopping behaviour.

An internet survey of 1,575 Swedish consumers was conducted. A large set of attributes was rated by the participants on seven-point scales with respect to their importance for choice of grocery store. Principal component analysis (PCA) resulted in a reduced set of reliably measured aggregated attributes. This set included the attractiveness attributes price level, supply range, supply quality, service quality, storescape quality, facilities for childcare, and closeness to other stores, and the accessibility attributes easy access by car, easy access by other travel modes, and availability (closeness to store and opening hours).

The results showed that accessibility by car is the most important grocery store attribute, storescape quality and availability the next most important and facilities for childcare the least important. It was also found that socio-demographic factors and shopping behaviour have an impact on the importance of the store attributes.

A comprehensive set of attractiveness and accessibility attributes of grocery stores that can be standardized and used in empirical research is established. The results are valid for the Swedish-European conditions that differ from the conditions in North America where most previous research has been conducted. The results reveal the relative importance grocery-shopping consumers place on controllable attractiveness attributes compared to uncontrollable accessibility attributes as well as the relative importance of the attributes within each category.

Many consumer choice situations are characterized by the simultaneous demand for multiple alternatives that are imperfect substitutes for one another. A simple and parsimonious multiple discrete-continuous extreme value (MDCEV) econometric approach to handle such multiple discreteness was formulated by Bhat (2005) within the broader Kuhn–Tucker (KT) multiple discrete-continuous economic consumer demand model of Wales and Woodland (1983). In this chapter, the focus is on presenting the basic MDCEV model structure, discussing its estimation and use in prediction, formulating extensions of the basic MDCEV structure, and presenting applications of the model. The paper examines several issues associated with the MDCEV model and other extant KT multiple discrete-continuous models. Specifically, the paper discusses the utility function form that enables clarity in the role of each parameter in the utility specification, presents identification considerations associated with both the utility functional form as well as the stochastic nature of the utility specification, extends the MDCEV model to the case of price variation across goods and to general error covariance structures, discusses the relationship between earlier KT-based multiple discrete-continuous models, and illustrates the many technical nuances and identification considerations of the multiple discrete-continuous model structure. Finally, we discuss the many applications of MDCEV model and its extensions in various fields.

The purpose of this paper is to investigate the relationship between switching intention and actual behaviour in the grocery shopping context. In particular, the study examines how switching intention drives customers to either replace the current store or cross to others. In addition, the study examines the role of cross-shopping in total-switching behaviour.

The study employs data collected from a sample consisting of 247 food grocery shoppers. The conceptual framework and hypothesis were analysed using the partial least squares approach.

The empirical results support the author’s claim that the research approach applied in this study better explains the switching intention–actual behaviour relationship. Specifically, the analysis provides strong support for the effect of switching intention and various moderating barriers on both cross-shopping and total-switching behaviour. Additionally, the study results point to the positive relationship between cross-shopping and total-switching, indicating that crossing to competing stores is the first step towards utilising the total-switching behaviour.

Implications for food retail providers are identified, together with a discussion of the study’s limitations and avenues for future research.

The study extends previous research in that it proposed and tested a conceptual framework for investigating the relationship between switching-intention and actual behaviour, claiming that switching intention drives customers to either replace their current store or cross to others, whereas the crossing pattern is a predictor of the total-switching behaviour.

The purpose of this paper is to examine consumer behavior towards Greek convenience stores chains and to determine the criteria on which store selection is based. The paper also analyses the stores’ position in the retail sector.

A random sample of 360 convenience store consumers was surveyed across four major cities. Data were collected through personal interviews, using a structured questionnaire. Statistical analysis was applied to further evaluate the information.

Consumers choose convenience stores mainly to cover their daily needs and save time on shopping, despite their dissatisfaction with the provided services. The survey also identified the characteristics of convenience store customers and their preferences.

The principal contribution of the present research is its focus on consumer behavior towards convenience stores in Greece.

The purpose of this paper is to profile grocery retailers in terms of seven value types based on Holbrook’s value typology; to link these value types to three key outcomes (i.e. satisfaction, repurchase intention, and word-of-mouth); and to evaluate the impact of the retail format on performance and importance of the seven value types.

For each retail format, the authors administered a consumer survey, resulting in an aggregate sample of 392 respondents. The authors used partial least squares structural equations modeling to test the relationships between the value types and key outcomes (i.e. importance) and ANOVAs to examine cross-format differences between latent variable scores of the value types (i.e. performance).

The three retail formats included in the study perform differently on Holbrook’s value types (e.g. non-discounters excel in terms of aesthetic value and play, compared to hard and soft discounters). Furthermore, this study reveals that the strategic importance of each value type depends on the key outcome (e.g. whereas efficiency is the main source of satisfaction, play mainly drives the other two outcomes).

The authors randomly assigned respondents to one of the three retail formats irrespective of their personal preference or patronage. To conduct value-based segmentation, respondents should evaluate either their preferred format or all supermarkets.

This study offers positioning advice to retail managers, according to their format and strategic objectives.

Unlike previous research, this paper provides a cross-format comparison of retailers based on a three-dimensional value typology and its key outcomes.