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Perceived financial constraints and normative influence: discretionary purchase decisions across cultures.

ABSTRACT: Five studies examine how perceived financial constraints and abundance determine when consumers will engage in solitary or social purchases. When financially constrained, consumers prefer solitary (vs. social) purchases. We also identify self-construal as a moderator of how consumers spend their discretionary income. While independent consumers prefer solitary (vs. social) purchases, interdependent consumers prefer social (vs. solitary) purchases. Interestingly, when consumers have adequate discretionary income, independent as well as interdependent consumers have similar preferences for solitary and social purchases. In addition, for interdependent consumers, communal norms mediate the preference for social purchases. Finally, for independent consumers, making the communal norm salient reverses their preference for solitary purchases, resulting in a preference for social purchases. Our findings suggest how managers can effectively promote different types of purchases under varying financial resource conditions in their global communication strategy.

Supplementary information

The online version contains supplementary material available at 10.1007/s11747-021-00814-x.

SUBMITTER: Malika M

PROVIDER: S-EPMC8507509 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature

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Perceived financial constraints and normative influence: discretionary purchase decisions across cultures.

Malika Malika M Maheswaran Durairaj D Jain Shailendra Pratap SP

Journal of the Academy of Marketing Science 20211012 2

Five studies examine how perceived financial constraints and abundance determine when consumers will engage in solitary or social purchases. When financially constrained, consumers prefer solitary (vs. social) purchases. We also identify self-construal as a moderator of how consumers spend their discretionary income. While independent consumers prefer solitary (vs. social) purchases, interdependent consumers prefer social (vs. solitary) purchases. Interestingly, when consumers have adequate disc ...[more]

PMID: 34658458

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Project description:BackgroundConsumers' access to cannabis has been considerably expanded in US states where recreational cannabis was legalized and commercialized. However, little is known about the important factors influencing consumers' purchase decisions in cannabis retail dispensaries. This study examined cannabis users' perceptions of the relative importance of policy-relevant factors when they made cannabis purchase decisions.MethodsAn online survey was administered to 817 adult cannabis users in seven states in the US (California, Colorado, Maine, Massachusetts, Nevada, Oregon, and Washington) that had approved cannabis commercialization by the time of interview in January 2018. Twenty policy-relevant cannabis attributes were evaluated, including those pertaining to product characteristics, quality, package characteristics, price and free sample, store characteristics, and restrictions on use. A best-worst scaling experiment was employed, which asked respondents to select the most and the least important attributes in a choice scenario. Each respondent answered 10 choice scenarios, each including a random combination of four attributes out of the 20. The relative importance of each attribute was evaluated using hierarchical Bayesian estimation of mixed logit models.ResultsOverall, 'quality', 'strain type', 'price', 'THC' (tetrahydrocannabinol) and 'pesticide' were the top five important attributes affecting cannabis users' willingness to buy cannabis in a dispensary. These five attributes jointly accounted for approximately half of the total importance. In subsample analysis, both recreational and dual-purpose users attached higher importance to 'quality', 'THC', and 'price', whereas medical users tended to think 'CBD' (cannabidiol) and 'pesticide' were more important. All cannabis users perceived 'package' to be the least important attribute. Gender had no major differences in perceptions.ConclusionsCannabis users in general perceived product characteristics, quality, and price to be important factors in their willingness to buy cannabis in dispensaries. There were heterogeneities in the perceptions by cannabis use purposes. The findings might deserve consideration in cannabis policy design.

Dataset Information

Perceived financial constraints and normative influence: discretionary purchase decisions across cultures.

Supplementary information

Publications

Perceived financial constraints and normative influence: discretionary purchase decisions across cultures.

Similar Datasets

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