Marketing

While customer management has become a top priority for practitioners and academics, little is known about how managers actually make customer management decisions. Our study addresses this gap and uses the adaptive decision maker as well as the fast and frugal heuristics frameworks to gain a better understanding of managerial decision making. Using the process-tracing tool MouselabWEB, we presented sales managers in retail banking with three typical customer management prediction tasks.

We show that counting downward while performing a task shortens the perceived duration of the task compared to counting upward. People perceive that less time has elapsed when they were counting downward versus upward while using a product (Studies 1 and 3) or watching geometrical shapes (Study 2). The counting direction effect is obtained using both prospective and retrospective time judgments (Study 3), but only when the count range begins with the number “1” (Study 2).

How are the designs of corporate buildings used to create meaning and project a corporate image and personality" We distinguish functionalist architecture ("form follows function"), which focuses on the primary, utilitarian function of a building, from experiential architecture ("from function to form"), which uses the form of a building to communicate symbolically about the organization.

This chapter provides a critical review of the emerging field of consumer experience and experiential marketing.

Can event marketing contribute to brand equity? A field study with consumers participating in different types of events indicates that event attendance increases brand equity and that brand experience is the most important mediator. Brand attitudes mediate the relation between events and brand equity only for certain types of events (namely, trade and street events, but not pop-up shops and sponsored events). Implications of the results for event marketing theory and practice are discussed.

We present a method that dynamically designs elicitation questions for estimating preferences, focusing on the parameters of cumulative prospect theory and time discounting models. Typically these parameters are elicited by presenting decision makers with a series of choices between alternatives, gambles or delayed payments. The method dynamically (i.e., adaptively) designs such choices to optimize the information provided by each choice, while leveraging the distribution of the parameters across decision makers (heterogeneity) and capturing response error.

As noted by Samuelson in his introduction of the Strong Independence axiom, essentially the same set of axioms rationalize an Expected Utility representation of preferences over lotteries with (i) a scalar payoff such as money and (ii) vector payoffs such as quantities of different commodities. Assume a two-good setting, where an individual's preferences satisfy the Strong Independence axiom for lotteries paying off quantities of each good separately.

Traditional advertising, such as TV and print advertising, primarily builds awareness of a firm's product among consumers, whereas sponsored search advertising on a search engine can target consumers closer to making a purchase because they reveal their interest by searching for a relevant keyword.