NDLI: Consumer informedness and diverse consumer purchasing behaviors: traditional mass-market, trading down, and trading out into the long tail

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Consumer informedness and diverse consumer purchasing behaviors: traditional mass-market, trading down, and trading out into the long tail

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Consumer informedness and diverse consumer purchasing behaviors: traditional mass-market, trading down, and trading out into the long tail

Content Provider	ACM Digital Library
Author	Clemons, Eric K.
Abstract	Anderson describes "The Long Tail" in online retailing and Silverstein and Fiske describe "Trading Up" to luxury goods. A more complete explanation of consumer behavior is based on informedness and pursuit of products that truly meet individual wants and needs, cravings and longings. As truly informed consumers are increasingly able to find exactly what they want and willing to pay premium prices to obtain products with perfect fit for them, companies have responded with new product portfolio strategies and new pricing strategies, based on the concepts of resonance marketing and hyperdifferentiation. This is consumers' pursuit of products that better for them. It is not trading up, but trading out. Consumers use information in different ways in different shopping experiences. In product categories where consumers exhibit extreme differences in preferences and where they also seek delight, such as the selection of new craft beers, the number of delighted reviewers and the strength of positive reviews are the best predictors of success. In contrast, when consumers seek to avoid disaster in an online shopping experience, such as when consumers shop for an unfamiliar discount hotel online, it is the absence of truly negative reviews that offers the best predictor of online sales success.
Starting Page	1
Ending Page	2
Page Count	2
File Format	PDF
ISBN	9781595937001
DOI	10.1145/1282100.1282102
Language	English
Publisher	Association for Computing Machinery (ACM)
Publisher Date	2007-08-19
Publisher Place	New York
Access Restriction	Subscribed
Content Type	Text
Resource Type	Article

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