Determinants of extended warranty prices for consumer durables

2016 ◽  
Vol 25 (7) ◽  
pp. 687-699 ◽  
Author(s):  
Hooman Estelami ◽  
Peter De Maeyer ◽  
Nicholas Estelami
Keyword(s):  
Durable Goods ◽  
Data Gathering ◽  
Future Research ◽  
Initial Product ◽  
Consumer Durables ◽  
Content Type ◽  
Extended Warranty ◽  
Alternative Means ◽  
Extended Warranties ◽  
Warranty Length

Purpose Research in marketing has extensively examined the signaling effects of product warranties on consumer perceptions. Although this stream of research has focused on initial product warranties offered by the manufacturer, studies of extended warranties, which protect consumers against product breakdowns beyond the warranty constraints of the manufacturer, are relatively scarce. This paper aims to empirically establish the effects of variables which influence the pricing of extended warranties for consumer durables. Design/methodology/approach Using data on over 8,000 product offers in six durable goods categories, drivers of the annual premiums for extended warranties are empirically identified. Bivariate and multi-level hierarchical linear regression methods are used to establish the effects of factors which may drive the prices of extended warranties. Findings The results reveal that the standardized annual premiums for extended warranties systematically vary across product categories and brands and are further affected by the retailer’s decision to use odd price endings for the sold product and the extended warranty. The influences of warranty length and price level of the protected product on extended warranty premiums are also empirically established. Research limitations/implications The findings indicate systematic variations in extended warranty prices as a result of the factors studied. Future research can extend this line of inquiry by utilizing alternative means of data gathering. Practical implications Given that marketers often cross-sell many consumer durable goods with extended warranty policies, and considering the growth in consumer spending in this category, as well as the high retail margins associated with extended warranties, this paper contributes to the understanding of the mechanism by which extended warranty prices are determined in the marketplace. Originality/value This is the first study to examine the determinants of extended warranty prices, as past studies have been normative and non-empirical in nature.

scholarly journals The impact of COVID-19 pandemic on conventional work settings

2020 ◽  
Vol 40 (9/10) ◽  
pp. 909-927
Author(s):  
Randa Diab-Bahman ◽  
Abrar Al-Enzi
Keyword(s):  
Working Conditions ◽  
Good Practice ◽  
Data Gathering ◽  
Phenomenological Approach ◽  
Future Research ◽  
Crowd Sourcing ◽  
Policy Makers ◽  
Content Type ◽  
The Impact ◽  
Insight Into

PurposeTo give insight into human resource (HR) policy makers of the impact of the abrupt change in working conditions as reported from their primary stakeholders – the employees.Design/methodology/approachReported from a first-person point of view, 192 employees from Kuwait who are currently working from home were surveyed as to how the lockdown circumstances have impacted their conventional work expectations. The study compares the old working conditions (OWC) to the current working conditions (CWC) to give insight into the overall sentiments of the abrupt changes to the workplace.FindingsIt was found that most employees agreed that OWC need to be reviewed, and that the general sentiment was almost equally split on the efficiency of CWC in comparison to OWC, yet the majority was enjoying the flexible conditions. Moreover, the majority of respondents found that overall conventional work elements either remained the same or had been impacted positively rather than negatively. Also, if given an option of a hybrid model inclusive of partly working remotely and partly working on-site, a considerable majority reported that they are able to efficiently conduct atleast 80% of their work expectation. Finally, it was found that employee expectation is changing as they consider post COVID-19 conditions.Research limitations/implicationsThis research was conducted using virtual crowd-sourcing methods to administer the survey and may have been enhanced should other methods have been integrated for data gathering. Also, a more comprehensive phenomenological approach could have been incorporated to add a qualitative method to the investigation. This could have freed the results of answer limitation and experience bias. Moreover, it is good practice to involve both quantitative and qualitative elements to any research when possible. Finally, future research can benefit from a bigger pool of participants so as to gain a clearer picture.Originality/valueThis research will give policy makers a look at what needs to be reviewed/changed for a successful roll-out of remote work in accordance with their original strategies.

Facebook as a platform for co-creating music festival experiences

2016 ◽  
Vol 7 (2) ◽  
pp. 84-99 ◽  
Author(s):  
Emma Hoksbergen ◽  
Andrea Insch
Keyword(s):  
Young Adults ◽  
Large Scale ◽  
Small Sample Size ◽  
Small Sample ◽  
Survey Method ◽  
Future Research ◽  
Content Type ◽  
Music Festival ◽  
Alternative Means ◽  
On Line

Purpose The purpose of this paper is to address the need to understand how younger music festival-goers use and engage with a music festival’s Facebook page, and how they perceive this social networking service (SNS) as a potential on-line platform for value co-creation. Design/methodology/approach Face-to-face in-depth interviews were conducted with 16 young adults who attended an annual New Year’s Eve music festival, Rhythm and Vines, in Gisborne, New Zealand. Findings Analysis of the interview data revealed that the majority of participants did not actively engage with this platform and could be categorised as passive viewers or information-seekers. In addition, participants perceived five types of value from using this SNS: functional, social, emotional, interactive and aesthetic value. Even though participants were not segmented due to the small sample size, patterns in their levels of engagement with Facebook, attendance status, reasons for attending the festival and the combinations of forms of value that they perceived were identified. Research limitations/implications Future research should use a large-scale survey method to obtain a representative sample that is generalisable to a specific population of music festival-goers. Practical implications Dominance of features on Facebook providing festival-goers with functional value suggests they prefer a passive or co-optation approach to value co-creation in this context. Due to the limited extent of participants actively co-creating value on this platform, alternative means of encouraging interaction to co-create value with festival-goers should be investigated. Originality/value This study demonstrates that this SNS provides this group of young adults with a means to connect their real-time festival experience, with their on-line Facebook social network during the year.

Cross cultural consensus: development of the universal leadership model

2014 ◽  
Vol 42 (4) ◽  
pp. 240-266 ◽  
Author(s):  
Robert Paul Jones ◽  
Jewon Lyu ◽  
Rodney Runyan ◽  
Ann Fairhurst ◽  
Youn-Kyung Kim ◽  
...  
Keyword(s):  
Data Gathering ◽  
Leadership Role ◽  
Primary Data ◽  
Future Research ◽  
Leadership Model ◽  
Content Type ◽  
Economic Climate ◽  
Leadership Success ◽  
Expatriate Management ◽  
Expatriate Managers

Purpose – Retailers have demonstrated mixed results during international expansions. However, home market saturation and the economic climate are forcing more and more retailers to look beyond their borders for revenue. A critical participant in the internationalizing effort is the expatriate manager. Unfortunately the literature is unclear and at times conflicted over how to select and prepare expatriate management for their leadership role. Therefore, this study was designed with the purpose of uncovering various factors which may lead to expatriate retail management success. Design/methodology/approach – Based on the lack of unanimity in the literature this study adopted a qualitative research methodology in order to develop some consensus regarding successful expatriate leadership attributes. Grounded theory was employed utilizing extensive in-depth interviews as the primary data gathering and analysis tools. Findings – A multi-dimensional construct emerged from the data requiring all dimensions to be utilized for a successful retail expatriate assignment. The construct of “Universal Leadership”, is proposed as formative, comprised of reflective sub-dimensions; Ability, Adaptability, Ambassadorship, and Awareness (Self), which we refer to as the Four A's, for successful expatriate management assignments. Several propositions are put forward as suggestions for future research in the use of the universal leadership model for both selection and training of retail expatriate managers. Originality/value – The study develops a theoretical platform for expatriate leadership success allowing for cultural and business variation. Awareness is introduced as a critical attribute in achieving success as an expatriate success. The universal leadership model proposes attributes beneficial for training and also selection which is critically under examined in the literature.

Markets and market boundaries: a social practice approach

2017 ◽  
Vol 27 (2) ◽  
pp. 408-426 ◽  
Author(s):  
Martyn Gosling ◽  
James Richard ◽  
Yuri Seo
Keyword(s):  
Social Practice ◽  
Future Research ◽  
Competitive Strategies ◽  
Institutional Practices ◽  
Content Type ◽  
Exchange Processes ◽  
The Social ◽  
Practice Approach ◽  
Alternative Means ◽  
Managerial Implications

Purpose The paper contributes to the debate on a general theory of markets. The purpose of this paper is to develop a market practice model based on social practice theories, and explore new ways of describing market boundaries. Design/methodology/approach A conceptual analysis of contemporary marketing directions and market theorizations provides a basis for defining markets and market boundaries in terms of social practices and their performances by market actors. Findings Based on the market performances held in place by institutional practices that define, contextualize and stabilize a market, this paper defines market boundaries by nine specific categories of practices, described here as parameters. Research limitations/implications This is a conceptual paper. Future research using empirical evidence derived from situated investigations should endeavor to refine the model and practices that define market boundaries. Originality/value The paper provides a new conceptualization of markets and market boundaries from the social practice perspective, and advances contemporary market theorizing that puts services at the center of exchange. The paper offers managerial implications by describing alternative means for analyzing markets and developing corresponding competitive strategies. Furthermore, the conception of market boundaries as nine parameters provides insights beyond the geographic and price boundaries typically used to describe market limits and exchange processes when developing policy.

scholarly journals International comparisons of nominal and real construction labour productivity

2018 ◽  
Vol 25 (7) ◽  
pp. 896-915 ◽  
Author(s):  
Fah Choy Chia ◽  
Martin Skitmore ◽  
Jason Gray ◽  
Adrian Bridge
Keyword(s):  
Low Income ◽  
Price Level ◽  
Developing Economies ◽  
Labour Productivity ◽  
International Comparisons ◽  
Initial Approximation ◽  
Future Research ◽  
Middle Income ◽  
Content Type ◽  
Alternative Means

Purpose A comparison of international construction labour productivity (CLP) is carried out by the conventional use of exchange rates to convert national construction output to a common base currency. Such measurement is always distorted by price-level differences between countries and therefore the purpose of this paper is to adopt a purchasing power parities (PPPs) approach, which eliminates price-level differences, as an alternative means of comparing CLP. Design/methodology/approach PPP construction expenditure data from the World Bank’s International Comparison Programme 2011 and employment statistics maintained by the International Labour Organization are used to generate the CLP of 93 matching economies. A one-way analysis of variance is conducted to evaluate the relationship between the development status and the CLPs. Findings The CLPs of developed economies are higher than developing economies in both PPPs (real) and exchange rate (nominal) measurements. The real CLPs are always higher than nominal CLP in high-income, upper-middle-income, lower-middle-income and low-income economies. Both real and nominal CLPs converge along with the economic growth. Research limitations/implications The average figures used in the study may not always be the most representative statistics. The CLPs determined provide an initial approximation for comparison between different economies to gain further insights into the best practices and policies for the more successful economies. Future research is recommended to uncover the underlying factors of CLPs congruence. Originality/value The convergence of real and nominal CLPs when economies transit from a developing to developed status indicates that the construction product has transformed from a commonly understood non-internationally traded product to an internationally traded product.

EXPRESS: A Reference-Dependent-Preferences-Based Model of Extended Warranty Purchase Decisions

2021 ◽  
pp. 002224372110569
Author(s):  
Hyeong-Tak Lee ◽  
Sriram Venkataraman
Keyword(s):  
Automobile Industry ◽  
Loss Aversion ◽  
Durable Goods ◽  
Qualitative Difference ◽  
Theoretical Explanation ◽  
Theory Model ◽  
Macroeconomic Conditions ◽  
Extended Warranty ◽  
Extended Warranties ◽  
Reference Dependent Preferences

Durable goods often come bundled with limited-time and sometimes generous factory/base warranties. Yet a sizable number of durable goods customers purchase extended warranties that they rarely make claims against. This study offers a reference-dependent-preferences-based theoretical explanation of why consumers purchase extended warranties even if their purchased good is already covered by a base warranty. Consistent with our theory of reference-dependent preferences, we show that consumers treat base warranties as a reference point, thereby creating a qualitative difference in the valuation of an extended warranty on the purchased product. Specifically, our theory model predicts that the loss aversion motivation for consumers with base warranties results in these consumers valuing extended warranties more favorably than their peers purchasing identical products without a base warranty. The authors validate the predictions from the theory model using observational data from the automobile industry and show how the reference-dependent-preferences-based effect varies with vehicle quality and with macroeconomic conditions. The analyses reveal autobuyers' elevated loss-aversion motivations and higher price sensitivity during weaker macroeconomic conditions than during more robust macroeconomic conditions. Finally, the authors use the empirical model to identify opportunities for auto dealers to engage in targeted price promotions as a function of prevailing macroeconomic conditions. These findings have important implications for marketing managers, as they provide valuable guidance on when an extended warranty should be promoted, to whom and what extended warranty should be marketed.

Peer assessment through digital storytelling: experiences of pre-service IT teachers

2018 ◽  
Vol 35 (3) ◽  
pp. 217-228 ◽  
Author(s):  
Zeynep Tatli ◽  
Nursel Uğur ◽  
Ünal Çakiroğlu
Keyword(s):  
Personal Development ◽  
Teaching Practices ◽  
Digital Storytelling ◽  
Teaching Practice ◽  
Peer Assessment ◽  
Data Gathering ◽  
Assessment Method ◽  
Content Type ◽  
Alternative Means ◽  
Special Case

Purpose The purpose of this paper is to reveal the contribution of the digital storytelling to the peer assessments experiences of pre-service teachers within the teaching practices. Design/methodology/approach The study is carried out as a special case study. Both qualitative and quantitative data gathering tools were used together to investigate a special case in depth (Yıldırım and Şimşek, 2011; Çepni, 2007). In this study, the case investigated was the process whereby the senior year pre-service teachers enrolled in the faculty of education provided assessments of themselves and their peers through the teaching practice course, using digital storytelling. The contributions of the assessment method employed, in the experiences and personal development of the pre-service teachers, were investigated through interviews with pre-service teachers involved. Findings The results suggested that pre-service teachers’ perspectives were quite positive toward the use of digital storytelling for peer assessment in their teaching practices. The prominent contributions were: they caused easily tolerate personally as they did not take a direct form, and that they considered peer assessment through digital storytelling as an alternative means of assessment to effectively reflect the process. Receiving more detailed feedback about their classroom experiences and their teaching skills was helpful for pre-service IT teachers. Suggestions due to the findings were also included. Originality/value In the study, peer assessment digital stories in the teaching practice courses offers the benefits of confidence with, different perspectives, satisfaction, and objectivity. These benefits can help pre-service teachers to focus on shortcomings regarding their teaching experiences, and take care for the correction. Further studies can be provided about the digital storytelling processes in various assessment processes of the instructions to reveal the potential of digital narratives in other domains as well.

The Economic and Social Background to the Consumer Durables Revolution

2017 ◽  
Author(s):  
Peter Scott
Keyword(s):  
Durable Goods ◽  
Consumer Credit ◽  
Social Background ◽  
Living Standards ◽  
Consumer Expenditure ◽  
Household Demand ◽  
Fertility Rates ◽  
Real Wages ◽  
Consumer Durables ◽  
Technological Improvements

By 1939 rising living standards provided access to an array of durable goods that many people regarded as necessities, but would have been beyond the dreams of their parents twenty-five years earlier. Rising real wages, falling fertility rates, and an expansion and liberalization of consumer credit, collectively made affordable goods that cost several weeks’, months’, or (in the case of housing) years’ income. This chapter examines these trends and then discusses their impacts on household demand for durable goods. For most durables, demand is shown to have risen substantially faster than incomes, producing a major rise in their share of total consumer expenditure. This was partly driven by technological improvements, though successful marketing (both of the goods and the consumer credit that made them affordable) also played a key role.

scholarly journals Advantages and potential challenges of data management in e-maintenance

2019 ◽  
Vol 25 (3) ◽  
pp. 378-396 ◽  
Author(s):  
Arian Razmi-Farooji ◽  
Hanna Kropsu-Vehkaperä ◽  
Janne Härkönen ◽  
Harri Haapasalo
Keyword(s):  
Data Management ◽  
Design Methodology ◽  
Management Practices ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Different Types ◽  
Maintenance Systems ◽  
Industry Leader ◽  
Practical Implications

Purpose The purpose of this paper is twofold: first, to understand data management challenges in e-maintenance systems from a holistically viewpoint through summarizing the earlier scattered research in the field, and second, to present a conceptual approach for addressing these challenges in practice. Design/methodology/approach The study is realized as a combination of a literature review and by the means of analyzing the practices on an industry leader in manufacturing and maintenance services. Findings This research provides a general understanding over data management challenges in e-maintenance and summarizes their associated proposed solutions. In addition, this paper lists and exemplifies different types and sources of data which can be collected in e-maintenance, across different organizational levels. Analyzing the data management practices of an e-maintenance industry leader provides a conceptual approach to address identified challenges in practice. Research limitations/implications Since this paper is based on studying the practices of a single company, it might be limited to generalize the results. Future research topics can focus on each of mentioned data management challenges and also validate the applicability of presented model in other companies and industries. Practical implications Understanding the e-maintenance-related challenges helps maintenance managers and other involved stakeholders in e-maintenance systems to better solve the challenges. Originality/value The so-far literature on e-maintenance has been studied with narrow focus to data and data management in e-maintenance appears as one of the less studied topics in the literature. This research paper contributes to e-maintenance by highlighting the deficiencies of the discussion surrounding the perspectives of data management in e-maintenance by studying all common data management challenges and listing different types of data which need to be acquired in e-maintenance systems.

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