Understanding Consumer Loss Perception : Navigating the Divide Between Loss Aversion and Decayed-Loss Neglect
- 주제(키워드) Prospect theory , legitimate peripheral participation , experience , perceived value , product lifespan , internal reference price
- 주제(DDC) 658.4038
- 발행기관 아주대학교 일반대학원
- 지도교수 Cheul Rhee
- 발행년도 2024
- 학위수여년월 2024. 2
- 학위명 박사
- 학과 및 전공 일반대학원 경영정보학과
- 실제URI http://www.dcollection.net/handler/ajou/000000033419
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
Following the principles of Loss Aversion in Prospect Theory, consumers often invest significant time and effort in searching for favorable deals to avoid potential losses that may occur from purchasing the same product at a higher price. Interestingly, they sometimes neglect a product in good condition, which contradicts this theory because it loses its value completely. This study suggests a new conceptual model that integrates the 'Legitimate Peripheral Participation (LPP) framework.' It improves understanding of the process through which consumers continuously reconstruct their perception of value through the interaction between their experiences and value perception in products throughout the entire product lifecycle. The study involved 480 participants from an online crowdsourcing platform who were asked to recall and respond regarding various stages of a product's lifespan. Study 1 indicates that customers are willing to pay to prices nearly equivalent to the original for brand-new products, yet they view the value of second-hand items as markedly less. This phenomenon is named "Decayed-Loss Neglect," indicating a decreased sensitivity to loss after purchase. This finding also suggests the possibility of heightened consumer sensitivity to intangible benefits such as positive memories and post-purchase familiarity. Study 2 formulated hypotheses and models for different time periods of a product's lifespan. Structural equation modeling was employed to assess the impact of perceived value from one stage on the consumer experience in the following stage, as well as how this experience influences the product's perceived value during that stage. The findings reveal that factors related to the initial purchase do not significantly influence consumers' perceptions of a product's value. Direct consumer experiences, which are significantly influenced by the value perceptions formed in earlier stages, play a crucial role in reconstructing the product's value. Emotional and utilitarian values have a significant impact on the continued use of the product, while social value notably influences the intention to resell in the second-hand market. These insights provide valuable guidance for businesses in aligning their strategies with consumer perceptions and behaviors, and they contribute significantly to academic discussions on consumer behavior.
more목차
1. Introduction 1
1.1. Research background and purpose 1
1.2. Scope of research 5
1.3. Research methods 7
2. Theoretical Considerations 9
2.1. Product lifespan 9
2.2. Prospect theory 20
2.3. Legitimate peripheral participation model 26
2.4. Product purchase 33
2.5. Indirect experience 41
2.6. Direct experience 45
2.7. Perceived value 49
2.8. Sustained use and product disposing 66
3. New conceptual model and cognitive progress 76
3.1. Conceptual model 76
3.1.1 Initial access 76
3.1.2 Initial motivation 76
3.1.3 Situated learning: Direct experience and Indirect experience 77
3.1.4 Value reconstruction: Value perception 79
3.1.5 Internal reference price 80
3.1.6 Sustained use and product neglect 81
3.2. Cognitive process 83
4. Study 1 89
4.1. Internal Reference price 89
4.2. Hypotheses 93
4.3. Data and samples 95
4.3.1 Survey participants 95
4.3.2 Sample and data collection method 95
4.4. Research result 98
5. Study 2 105
5.1. Hypotheses and research model 105
5.1.1 Time period A 105
5.1.2 Time period B-part 1 108
5.1.3 Time period B-part 2 109
5.1.4 Time period C-part 1 111
5.1.5 Time period C-part 2 112
5.1.6 Time period D-part 1 115
5.1.7 Time period D-part 2 117
5.2. Operational definition of variables and measurements 121
5.3. Data and samples 127
5.3.1 Survey participants 127
5.3.2 Sample and data collection method 128
5.4. Factor analysis and reliability assessment 130
5.4.1 Time period A 131
5.4.2 Time period B-part 1 133
5.4.3 Time period B-part 2 134
5.4.4 Time period C-part 1 137
5.4.5 Time period C-part 2 138
5.4.6 Time period D-part 1 141
5.4.7 Time period D-part 2 144
5.5. Common method bias 148
5.6. Research result 153
5.5.1 Time period A 153
5.5.2 Time period B-part 1 157
5.5.3 Time period B-part 2 158
5.5.4 Time period C-part 1 160
5.5.5 Time period C-part 2 162
5.5.6 Time period D-part 1 167
5.5.7 Time period D-part 2 169
5.7. Summary of research result 176
6. Conclusion and Discussion 186
6.1. Conclusion 186
6.2. Research contribution 186
6.2.1 Academic implication 186
6.2.2 Managerial implication 188
6.3. Discussion 192
Reference 196
Appendix 207
