Tuition Myopia: Myopic Focus on the Costs of Higher Education Induces Intertemporal TradeoffsJun 21, 2019 Haewon Yoon, Yang Yang, and Carey Morewedge, 2019, 19-120-06
Is calculating lifetime ROI the right way to think about the cost of a college education? 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. But 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, 19-119-06
Two scales offer precise measures of CX performance across the consumer journey. Based on eight studies with nearly 3000 participants, researchers develop an 18-item text-based scale and an icon-based scale that captures six CX dimensions.
Last Place Aversion in QueuesMay 17, 2019 Ryan W. Buell, 2019, 19-118-05
Last-place aversion is consequential for customer satisfaction and firm profits - customers who are last in line are twice as likely to switch or renege from the queue. Queue transparency can help. So can "eliminating" last place - experimentally ensuring that no one ever perceived themselves to be in last place reduced defections by 43.5%.
Lead by Example? Custom-Made Examples Created by Close Others Lead Consumers to Make Dissimilar ChoicesMay 15, 2019 Jennifer K. D’Angelo, Kristin Diehl, and Lisa A. Cavanaugh, 2019, 19-117-05
In eight studies, researchers offer novel evidence on how examples shape customization choices. Their findings predict that seeing a friend's customized sneakers would lead you to customize your own sneakers to be *less* similar - even sacrificing your own preferences in order to be unique.
Good Vibrations: Consumer Responses to Technology-Mediated Haptic FeedbackApr 12, 2019 Rhonda Hadi and Ana Valenzuela, 2019, 19-116-04
Mobile marketers and gadget designers, take note: In the right setting - such as physical fitness and health contexts, haptic feedback may be an easy way to positively influence consumers’ responses to the message and the sender. Paired with an encouraging message, a vibrotactile alert can create a sense of “social presence” in what may otherwise feel like a cold technological exchange.