A Study on the Effect of Third-Party Award-winning Advertisements on Consumers’ Pre-purchase Intention
2
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
Third-Party awards are becoming increasingly popular. They include the Hit Product of the Year chosen by The Korea Economic Daily, the Best 10 Products of the Year chosen by Sports paper, the best hit product chosen by a consulting firm and the best venture company of the year chosen by the Information and Communication Department. In view of the popularity of such awards, we can ask the following questions: Why does industry like this type of advertisement? Does this type of advertisement influence consumers' purchase intention? And if it does, how? Many researchers have been interested in external cues of product quality by focusing their research efforts on brand, price, producer, warranty etc. However, an important but under-explored area is the role of third parties in signaling product quality. This paper comes from the idea that third-party references may signal the fact that these institutions guarantee the quality of a manufacturer’s brand. We develop related theories to address research questions and drive some research hypotheses based on previous studies dealing source credibility, attribution, and signal theory. We put more emphasis on source credibility. We conducted the research based on 3x2x2 between group factorial design to explore the causal relationship between third-party award-winning advertising (real, fictional, no) and purchase intention of consumers exposed to other information simultaneously, such as product type (experience, search), distribution channel (direct, indirect), and perceived price (high, low). In the case of price, subjects are divided into two groups based on the means of response without extra experimental stimulus. The results are as follows: First, as the source credibility of the third party goes up, consumers' purchase intention would go up. It seems that consumers think about the credibility of a third-party most when they are exposed to a third party award winning advertisement. Second, the product type does moderate the relationship between the third-party’s award-winning advertisement and purchase intention just as the type of the distribution channel does. Consumers' purchase intention goes up higher when they buy experience goods and purchase intention changes significantly when consumers are exposed to direct channel treatment condition. But, perceived price has nothing to do with the context of a third-party winning advertisement in raising consumers’ intention to buy advertised products.
Abstract
Third-Party awards are becoming increasingly popular. They include the Hit Product of the Year chosen by The Korea Economic Daily, the Best 10 Products of the Year chosen by Sports paper, the best hit product chosen by a consulting firm and the best venture company of the year chosen by the Information and Communication Department. In view of the popularity of such awards, we can ask the following questions: Why does industry like this type of advertisement? Does this type of advertisement influence consumers' purchase intention? And if it does, how? Many researchers have been interested in external cues of product quality by focusing their research efforts on brand, price, producer, warranty etc. However, an important but under-explored area is the role of third parties in signaling product quality. This paper comes from the idea that third-party references may signal the fact that these institutions guarantee the quality of a manufacturer’s brand. We develop related theories to address research questions and drive some research hypotheses based on previous studies dealing source credibility, attribution, and signal theory. We put more emphasis on source credibility. We conducted the research based on 3x2x2 between group factorial design to explore the causal relationship between third-party award-winning advertising (real, fictional, no) and purchase intention of consumers exposed to other information simultaneously, such as product type (experience, search), distribution channel (direct, indirect), and perceived price (high, low). In the case of price, subjects are divided into two groups based on the means of response without extra experimental stimulus. The results are as follows: First, as the source credibility of the third party goes up, consumers' purchase intention would go up. It seems that consumers think about the credibility of a third-party most when they are exposed to a third party award winning advertisement. Second, the product type does moderate the relationship between the third-party’s award-winning advertisement and purchase intention just as the type of the distribution channel does. Consumers' purchase intention goes up higher when they buy experience goods and purchase intention changes significantly when consumers are exposed to direct channel treatment condition. But, perceived price has nothing to do with the context of a third-party winning advertisement in raising consumers’ intention to buy advertised products.
참고문헌 (50)
- Bearden, William O., "The Use of Extrinsic Cues to Facilitae Product Adaptation", Journal of Marketing Research, 8, pp.229~239 (1982)
- Beltramini, Richard F., "Comprehension and Perceived Believability of Seals of Approval Information in Advertising", Journal of Advertising, 22, pp.3~13 (1993)
- Boulding, William, "A Consumer-Side Experimental Examination of Signaling Theory: Do Consumers Perceive Warranties as Signals of Quality?", Journal of Consumer Research, 20, pp.111~123 (1993)
- Bursk E.C., "Low-Pressure Selling" (2006), Harvard Business Review
- Chen. Y., "Referral Informediaries", Marketing Science, 21(4), pp.412~434 (2002)
- Chen, Y., "Third-Party Product Review and Firm Marketing Strategy", Marketing Science, 24(2), pp.218~240 (2005)
- Choi, Ho Kyu, "Study on Structural Relationship of Attitude Change through Comparative Advertisement", Korean Advertising Review, 28, pp.171~199 (1995)
- Claxton, John D., "A Taxonomy of Prepurchase Information Gathering Patterns", Journal of Consumer Research, 1, pp.35~43 (1974)
- Dawar, Niraj, "Marketing Universals: Consumers Use of Brand Name, Price, Physical Appearance, and Retailer Reputation As Signals of Product Quality", Journal of Marketing, 28, pp.81~95 (1994)
- Dean, D. H., "Brand Endorsement, Popularity, and Event Sponsorship as Advertising Cues Affecting Consumer Pre- Purchase Attitudes", Journal of Advertising, 28(3), pp.1~12 (1999)
- Dean, D. H., "Third- Party Organization Endorsement of Products: An Advertising Cue Affecting Consumer Prepurchase Evaluation Goods and Services", Journal of Advertising, 30(4), pp.41~57 (2001)
- Dodds, W. B., "Effects of Price, Brand and Store Information on Buyers' Product Evaluations", Journal of Marketing Research, 28, pp.307~319 (1991)
- Eliashberg, J., "Film Critics: Influencers or Predictors?", Journal of Marketing, 61, pp.68~78 (1997)
- Friedman, Hershey H., "Endorser Effectiveness by Product Type", Journal of Advertising Research, 19, pp.63~71 (1979)
- Goldsmith, R. E., "The Impact of Corporate Credibility and Celebrity Credibility on Consumer Reaction to Advertisements and Brands", Journal of Advertising, 29(3), pp.43~54 (2000)
- Heider, Fritz, "The Psychology of Interpersonal Relations" (1958), John Wiley & Sons, Inc
- Hong, Sung-Tai, "Effects of Country-of-Origin and Product-Attribute Information", Journal of Consumer Research, 16, pp.175~177 (1989)
- Hyun, Mu Hawn, "A Study on the Effect of 3rd Party Reference Advertisements on Consumer's Purchase Decision Making in Books" (2001), Kore University Master Dissertation
- Ippolito, Pauline M., "Bonding and Nonbonding Signals of Product Quality", Journal of Business, 64(1), pp.41~60 (1990)
- Jacoby, Jacob, "Linking Brand and Retailer Images: Do the Potential Risks Outweigh the Potential Benefits", Journal of Retailing, 60, pp.105~122 (1984)
- Jacoby, Jacob, "Information Acquisition Behavior in Brand Choice Situations", Journal of Consumer Research, 3, pp.209~216 (1977)
- Jang, Dae Ryun, "Integrated... Advertising Management", pp.150~162 (2001), Hak Hyun Sa
- Kalwani, M. U., "Consumer Price and Promotion Expectations:An Experimental Study", Journal of Marketing Research, 29, pp.90~100 (1992)
- Kim, Tae Young, "Direct Selling and Guideline for Consumer Protection" (2005), Association of Korea Direct Selling
- Kirmani, Amna, "Advertising Repetition as a Signal of Quality:If It's Advertised So Much,Something Must Be Wrong", Journal of Advertising, 26(3), pp.77~86 (1997)
- Krishna, Aradhna, "The Normative Impact of Consumer Price Expectations for Multiple Brands on Consumer Purchase Behavior", Marketing Science, 11, pp.266~286 (1992)
- MacGinnies, Elliott, "Better Liked than Right:Trustworthiness and Expertise as Factors Credibility", Personality and Social Psychology Bulletin, 6, pp.467~472 (1980)
- Mallalieu, Lynnea, "Consumer Perception of Salesperson Influence Strategies:An Examination of the Influence of Consumer Goals", Journal of Consumer Behavior, 5, pp.257~268 (2006)
- Mizerski, Robert W., "The Attributional Process in Consumer Decision Making", Journal of Consumer Research, 2, pp.123~140 (1979)
- Nelson, Phillip, "Advertising as Information", Journal of Political Economy, 22, pp.729~754 (1974)
- Ohanian, Roobina, "The Impact of Celebrity Spokespersons Image on Consumers Intention to Purchase", Journal to Advertising Research, 31, pp.46~54 (1991)
- Olson, J.C., "Price as an Informational Cue: Effects in Product Evaluation. In Consumer and Industrial Buying Behavior", pp.267~286 (1977), North Holland
- Olson, Jerry, "Cue Utilization in the Quality Perception Process", The Third Annual Conference of the Association for Consumer Research, pp.167~179 (1971)
- Park, Chan Su, "A Critical Review and Assessment of 10 Years of New Product Awards from 10 Major Newspapers", Korean Journal of Marketing, 4(4), pp.97~119 (2002)
- Peterson, Robert A., "Effects of Advertised Customer Satisfaction Claims on Consumer Attitudes and Purchase Intention", Journal of Advertising Research, 32, pp.34~40 (1992)
- Pittman T.S., "Motivation, In the Handbook of Social Psychology", pp.549~590 (1998), McGraw Hill
- Rao, A. R., "The Effect of Price,Brand Name,and Store Name on Buyers' Perceptions of Product Quality:An Integrative Review", Journal of Marketing Research, 26, pp.351~357 (1989)
- Rao, A. R., "Signaling Unobservable Product Quality through a Brand Ally", Journal of Marketing Research, 36(2), pp.258~268 (1999)
- Reddy, S., "Exploring the Determinants of Broadway Show Success", Journal of Marketing Research, 35, pp.370~380 (1998)
- Ryu, Gang Seog, "Consumer Responses toward Hit Product Awards:The Moderating Role of Product Knowledge and Brand Strength", Korean Marketing Review, 21(1), pp.57~80 (2006)
- Shaffer, G., "When Good News About Your Rival is Good for You:The Effect of Third-Party Information on the Division of Channel Profits", Marketing Science, 21(3), pp.273~293 (2002)
- Shimp, Rerence A., "Warranty and Other Extrinsic Cue Effects on Consumers Risk Perceptions", of Consumer Research, 9, pp.38~49 (1982)
- Shugan, S. M., "Product Reviews and Marketing Strategy" (2003), Working Paper, University of Florida
- Spence, Michael, "Job Marketing Signaling", Quarterly Journal of Economics, 87, pp.356~374 (1973)
- Szybillo, G. J., "Intrinsic versus Extrinsic Cues as Determinants of Perceived Product Quality", Journal of Applied Psychology, 59(1), pp.74~ (1974)
- Teas, R. K., "The Effect of Extrinsic Prodcut Cues on Consumers' Perceptions of Quality, Sacrifice, and Value", Journal of the Academy of Marketing Science, 28, pp.278~290 (2000)
- Weiner, B., "An Attributional Theory of Motivation and Emotion" (1986), Springer-Verlag
- Winter, R.S., "A Reference Price Model of Brand Choice for Frequently Purchased Products", Journal of Consumer Research, 13, pp.250~256 (1986)
- Zaichkowsky, J.L., "Measuring the Involvement Construct", Journal of Consumer Research, 12, pp.350~ (1985)
- Zeithaml, Valarie A., "Consumer Perceptions of Price,Quality,and Value:A Means-End Model and Synthesis of Evidence", Journal of Marketing, 52, pp.2~1 (1988)