How Biased Household Inventory Estimates Distort Shopping and Storage Decisions  

Oleh:

Chandon, Pierre ; Wansink, Brian

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Marketing (EBSCO) vol. 70 no. 4 (Okt. 2006), page 118-135.
Topik: household; household; inventory; storage decision

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ94.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

The authors develop a model of how consumers estimate the level of product inventory in their household. Two laboratory experiments and two field studies involving 29 product categories show that : 1. consumer anchor their estimates on their average inventory and fail to adjust sufficiently 2. adjustments follow an inelastic psychophysical power function, leading to overestimations of low levels of inventory and understimations of high levels, and 3. adjustments are more elastic and thus more accurate when inventory is salient. Contrary to the assumptions of practitioners and academic modelers, these inventory estimates not actual inventory levels, drive subsequent purchase incidence. Simulation results further show that biased estimates increas overstocking and spoilage among stockout averse consumers but increase stockouts and unmet demand among overstocking averse consumers. By predicting the magnitude, not just the direction, of estimation biases, the model and the results offer new insights into accelerating the consumption of health foods and improving the targeting of stock pilling inducing sales promotions.

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