Marketing

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    Customer participation is no panacea for the development of new products

Customer participation is no panacea for the development of new products

Firms regularly assume that they can improve their innovation performance by involving customers in new product development (NPD) and tapping into customer knowledge about their needs and potential solutions. However, not all firms have benefitted from this practice. We undertook an investigation to explain why the returns from customer participation vary substantially across contexts and what marketers can do to […]

Firms write contracts to exploit consumer overconfidence

Overconfidence is a common error that can lead people to make poor choices because they misforecast future product usage and overestimate their abilities to navigate contract terms. The value of a gym membership depends on how often you think you will go to the gym, and the value of a mobile phone contract depends on how much data you […]

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    Market forces and competition are not necessarily detrimental to sustainability

Market forces and competition are not necessarily detrimental to sustainability

The consumption of sustainable foods and drinks is becoming common in certain categories. This provides us with an opportunity to study markets that have transformed from merely “unsustainable” to “sustainable” consumption. As approximately three fourths of the coffee consumed in the Netherlands is being produced in a sustainable way, the Dutch coffee market is a market from which we […]

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    A fun toy or a useful watch? How do people make purchasing decisions?

A fun toy or a useful watch? How do people make purchasing decisions?

‘Tis the season to shop and ‘tis the time to be torn apart by shopping dilemmas — which “it” items to buy and which ones to forgo?!

Imagine that David is browsing through his favourite retailer’s website and he is stopped dead on his (digital) tracks by scores of must-have items. To make his shopping task easier he decides to […]

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    A mathematician takes issue with supermarket price promotion gambits

A mathematician takes issue with supermarket price promotion gambits

In the spring of 2015, the consumer magazine Which? issued a report claiming that discounts by supermarkets are often misleading. As a mathematician and game theorist, I was asked to comment on this in the BBC radio show “PM” (for “afternoon”) hosted by Eddie Mair on 21 April. I find that the time to contribute in a live broadcast is […]

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    How can businesses measure social media influence to create value?

How can businesses measure social media influence to create value?

In the incredibly fast-paced digital world it is easy to get distracted by the variety of tools that promise businesses success through novel peer-to-peer advertising strategies. Business executives are constantly approached by self-proclaimed social media experts peddling different forms of influencer marketing. However, it is difficult to test the claims marketers make, leaving executives to wonder: which of the […]