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Regulatory focus and decision rules: Are prevention-focused consumers regret minimizers?

机译:监管重点和决策规则:预防专注的消费者后悔最小化?

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摘要

The Random Regret Minimization (RRM) discrete choice model, which assumes the emotional rationality of a decision maker, is introduced into consumer decision making. The potential consumer-specific drivers of the decision rules between utility maximization and regret minimization are scrutinized to better understand con-sumer decision-making processes. Drawing on Regulatory Focus Theory (RFT), we predict that chronically prevention-focused consumers are more likely to be regret minimizers, as they are more inclined to minimize negative outcomes, and that chronically promotion-focused consumers are more likely to be utility maximizers, as they are more inclined to maximize their opportunities and outcomes. Employing a finite mixture modeling approach, we find empirical support for the hypotheses. We also find a significant portion of regret-minimizing consumers showing different preferences for product design. The empirical findings highlight the importance of incorporating consumer segments with different decision rules as different marketing strategies may be required for product design and positioning.
机译:随机遗憾最小化(RRM)离散选择模型,旨在决策者的情感合理性,被引入消费者决策。审查效果最大化和后悔最小化之间的决策规则的潜在消费者特定驱动因素,以更好地理解Con-Sumer决策过程。在监管焦点理论(RFT)上,我们预测,长期预防的消费者更有可能是遗憾的,因为它们更倾向于尽量减少负面结果,并且长期促进的消费者更有可能是效用最大化的消费者,因为他们更倾向于最大化他们的机会和结果。采用有限的混合物建模方法,我们发现对假设的实证支持。我们还发现一部分后悔 - 最大限度地减少消费者,为产品设计显示不同的偏好。实证发现强调了将消费者细分与不同决策规则纳入不同决策规则的重要性,因为产品设计和定位可能需要不同的营销策略。

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