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Open Access
Article
Publication date: 2 September 2016

Jérôme Boutang and Michel De Lara

In a modern world increasingly perceived as uncertain, the mere purchase of a household cleaning product, or a seemingly harmless bottle of milk, conveys interrogations about…

4703

Abstract

Purpose

In a modern world increasingly perceived as uncertain, the mere purchase of a household cleaning product, or a seemingly harmless bottle of milk, conveys interrogations about potential hazards, from environmental to health impacts. The main purpose of this paper is to suggest that risk could be considered as one of the major dimensions of choice for a wide range of concerns and markets, alongside aspiration/satisfaction, and tackled efficiently by mobilizing the recent findings of cognitive sciences, neurosciences and evolutionary psychology. It is felt that consumer research could benefit more widely from psychological and evolutionary-grounded risk theories.

Design/methodology/approach

In this study, some 50 years of marketing management literature, as well as risk-specialized literature, was examined in an attempt to get a grasp of how risk is handled by consumer sciences and of whether they make some use of the most recent academic works on mental biases, non-mainstream decision-making processes or evolutionary roots of behavior. We then tested and formulated several hypotheses regarding risk profiles and preferences in the sector of insurance, by participating in an Axa Research Fund–Paris School of Economics research project.

Findings

It is suggested that consumer profiles could be enriched by risk-taking attitudes, that risk could be part of the “reason why” of brand positioning, and that brand, as well as public policy communication, could benefit from a targeted use of risk perception biases.

Originality/value

This paper proposes to apply evolutionary-based psychological concepts to build perceptual maps describing people and consumers on both aspiration and risk attitude axis, and to design communication tools according to psychological research on message framing and biases. Such an approach mobilizes not only the recent findings of cognitive sciences and neurosciences but also the understanding of the roots of risk attitudes and perception. Those maps and framing could probably be applied to many sectors, markets and public issues, from commodities to personal products and services (food, luxury goods, electronics, financial products, tourism, design or insurance).

Details

Journal of Centrum Cathedra, vol. 9 no. 1
Type: Research Article
ISSN: 1851-6599

Keywords

Open Access
Article
Publication date: 3 August 2020

Zhigang Cai, Pengzhu Zhang and Xiao Han

The paper is to explore crowdfunding success determinants from the reward menu design aspect, distinguishing from extant studies focusing on characteristics of project creators or…

3833

Abstract

Purpose

The paper is to explore crowdfunding success determinants from the reward menu design aspect, distinguishing from extant studies focusing on characteristics of project creators or crowdfunding projects and funding dynamics. Both the number of reward options and price differentiation of rewards are considered.

Design/methodology/approach

The authors use the quadratic model to identify a curvilinear relationship between the number of reward options and crowdfunding success, by running regressions on data collected from one of the most influential reward-based crowdfunding platforms in China. In addition, they explore the moderating effect of price differentiation on the curvilinear relationship.

Findings

The authors find an inverted U-shape relationship between the number of reward options and the optimal number of options is around 10. In addition, they find that the curvilinear relationship is moderated by reward price differentiation.

Practical implications

This paper has managerial implications for crowdfunding project creators and platform managers. To achieve better crowdfunding outcomes, a proper number of reward options with diversified reward prices should be provided.

Originality/value

The paper contributes to the literatures in antecedents of crowdfunding success from reward menu design aspect based on theories in investment and purchasing decision making. It is different from existing studies focusing on the characteristics of project creators and crowdfunding projects or funding dynamics. It also parallels retirement contribution plan design studies by exploring the reward menu design in the crowdfunding context.

Details

China Finance Review International, vol. 11 no. 2
Type: Research Article
ISSN: 2044-1398

Keywords

Open Access
Article
Publication date: 9 October 2017

Cathy Parker, Nikos Ntounis, Steve Millington, Simon Quin and Fernando Rey Castillo-Villar

The purpose of this paper is to document the results and the impact of the ESRC-funded High Street UK 2020 (HSUK2020), a project designed to take the existing academic knowledge…

16600

Abstract

Purpose

The purpose of this paper is to document the results and the impact of the ESRC-funded High Street UK 2020 (HSUK2020), a project designed to take the existing academic knowledge relating to retail and high street change directly to UK High Streets, to improve local decision-making and, ultimately, their vitality and viability.

Design/methodology/approach

Through a systematic literature review, and by following the tenets of engaged scholarship, the authors identified 201 factors that influence the vitality and viability of town centres. Through the consensus-building Delphi technique, a panel of 20 retail experts identified the top 25 priorities for action.

Findings

Taking a place management approach led to the development of a more strategic framework for regeneration, which consisted of repositioning, reinventing, rebranding and restructuring strategies (4R’s of regeneration). Collaboration with the project towns resulted in identification of the strategy area that would add the most value, and the impact of the 4R’s and the top 25 priorities is demonstrated via numerous town examples.

Originality/value

Knowledge exchange projects, such as High Street UK2020, have an important contribution to make, not by developing even more theory that is unlikely to get utilised, instead their contribution is to bring existing theory into practical use.

Details

Journal of Place Management and Development, vol. 10 no. 4
Type: Research Article
ISSN: 1753-8335

Keywords

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