Interactive Decision AIDS: Effects on Consumers, Retailers, and Manufacturers

ISBN-13: 9783824480203 / Angielski / Miękka / 2003 / 156 str.

Mazar, Nina

Opis

In a time where the Internet and online retailing play a proliferating role in the world-wide economy, it is of major concern to understand e-commerce's advantages and pitfalls. Only then retailers and manufacturers can act effectively in this extremely competitive market. In this context interactive decision aids, or so called smart agents, are becoming more and more important. While it is known that their key advantage lies in offering various levels of interac- tivity with which information can be tailored to each consumer's idiosyncratic needs, little is known about its particular advantages for consumers, retailers, or manufacturer when com- pared to the alternative of offline shopping. Nina Maiar's work targets exactly this shortcoming. To be more precise, she deals with one of the currently most feasible interactive decision aids in order to show its usefulness for dif- ferent product categories and effects on all actors in the market. Based on profound findings from research on constructive consumer preferences and economics of information, Nina Maiar analyses the consequences in an experimental simulation and demonstrates the deci- sion aid's effectiveness and boundaries.

Spis treści

Advantages and pitfalls of eCommerce for retailers The theoretical concept of the adaptive decision maker The role of interactive decision aids in eCommerce An empirical comparison of shopping online with an interactive comparison matrix and offline without any aid Managerial implications for retailers and manufacturers Further research questions in the context of the interactive comparison matrix

O autorze

Dr. Nina Mazar promovierte bei Prof. Dr. Andreas Herrmann am Lehrstuhl für allgemeine Betriebswirtschaftslehre und Marketing I der Universität Mainz. Sie ist Post-Doktorandin und Lehrbeauftragte für Marketing, insbesondere Marketing Management, Consumer Behavior, Decision Making, Behavioral Economics und eCommerce an der MIT Sloan School of Management sowie Teil der eRationality Group im MIT Medialab in Cambridge, USA.

Blurb

It is accepted that interactive decision aids, also referred to as agents, are the central component of e-commerce. However, little is known about their advantages and pitfalls for consumers, retailers, and manufacturers in the context of different types of product or attribute categories. How can we then apply these tools effectively?

Nina Mazar examines the effects of an interactive tool that can tailor information extremely fast: the interactive comparison matrix (CM). It provides product related information in a 'product by attribute' matrix and allows products to be sorted by any attribute. The author shows that the interactive CM has the potential to represent a useful and practicable solution matching the needs of both consumers and online retailers. On the one hand, it increases consumers' welfare, and hence might be a solution to escape the threat of increased price fixation of consumers shopping online. On the other hand, it offers retailers the possibility to systematically influence consumers' preference construction and choice. In addition, since retailers' incentives affect the derived demand for manufacturers' brands, these two results show that manufacturers can face a very different situation in an artificial marketplace.