Selling in the Digital AgeJul 16, 2019 Michael Ahearne, Zachary Hall, Partha Krishnamurthy, and Mohsen Pourmasoudi, 2019, 19-123-07
Today, thanks to the internet, many people know a lot about what they want to buy. What happens when they encounter salespeople whose approaches assume that they are uninformed, uncertain, and undecided? Data from 356 sales encounters shows a drop in purchase likelihood, sales revenue, and customer satisfaction when salespeople deploy "classic" sales models.
The Causal Effect of Service Satisfaction on Customer LoyaltyJul 8, 2019 Guofang Huang and K. Sudhir, 2019, 19-122
What is the real value of customer satisfaction and loyalty? The authors use an instrumental variables approach to overcome common methods bias and measurement error. They find that firms may be underestimating the gains in customer lifetime value from improving service satisfaction.
Not All Debt Is Created Equal: On the Mental Accounting of Debt FormsJun 26, 2019 Eesha Sharma, Stephanie Tully, and Cynthia Cryder, 2019, 19-121
Changes in marketing communications, product design, or nudges can encourage consumers to think about credit as “money to be repaid" rather than "money to be spent."
Tuition Myopia: Myopic Focus on the Costs of Higher Education Induces Intertemporal TradeoffsJun 21, 2019 Haewon Yoon, Yang Yang, and Carey Morewedge, 2019, 19-120
Six studies show that financially-impatient consumers prefer low-cost, low-return colleges over high-cost, high-return colleges, thus failing to maximize their lifetime earnings. Changing the way financial information is presented may correct this "myopia."
Measuring Customer Experiences: A Text-Based and Pictorial ScaleJun 10, 2019 Markus Gahler, Jan F. Klein, and Michael Paul, 2019, 19-119
These two scales - one text-based and one icon-based - can provide marketers precise measures of CX performance in real time.