The Library
Predicting consumer adoption of branded subscription services : a prospect theory perspective
Tools
Tools
Tools
Day, Steven J. (James), Godsell, Janet, Masi, Donato and Zhang, Wanrong (2020) Predicting consumer adoption of branded subscription services : a prospect theory perspective. Business Strategy and the Environment, 29 (3). pp. 1310-1330. doi:10.1002/bse.2435 ISSN 0964-4733.
|
PDF
WRAP-predicting-consumer-adoption-branded-subscription-services-prospect-theory-perspective-Day-2019.pdf - Accepted Version - Requires a PDF viewer. Download (886Kb) | Preview |
Official URL: https://doi.org/10.1002/bse.2435
Abstract
Drivers of and barriers to consumer adoption of product-service systems (PSS) deviating strongly from the current consumption paradigm remain unidentified. This study quantitatively investigates purchase intentions of a hypothetical branded fashion subscription service. This service features use- and result-oriented PSS attributes in a lack of ownership, newness, and choice, and is investigated from a Prospect Theory perspective using a mixed method design combining an experiment with a survey (n=524). Results show that even if the PSS provider is highly trusted by consumers, this only mitigates some of the worries consumers have about wearing used clothing and being held financially liable for product damage. The only driver of adoption is the opportunity to save money. Additional specific product information is also explored and shows that PSS providers have scope to change consumer perceptions. Overall, it appears that in fashion ownership and choice are lesser issues than the literature suggests, although financial incentives are important. Furthermore having a trusted brand allows a potential PSS provider to alleviate only some of the concerns consumers have. The contribution of this paper lies in its empirical findings as well as in its validation of Prospect Theory as a valid approach to enquiring into reasons for or against consumer adoption of complex PSS such as subscription services.
| Item Type: | Journal Article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
||||||||
| Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||||||
| Library of Congress Subject Headings (LCSH): | Consumption (Economics) , Sustainable development, Resource allocation, Cooperation, Consumer behavior , Business names | ||||||||
| Journal or Publication Title: | Business Strategy and the Environment | ||||||||
| Publisher: | John Wiley & Sons Ltd. | ||||||||
| ISSN: | 0964-4733 | ||||||||
| Official Date: | March 2020 | ||||||||
| Dates: |
|
||||||||
| Volume: | 29 | ||||||||
| Number: | 3 | ||||||||
| Page Range: | pp. 1310-1330 | ||||||||
| DOI: | 10.1002/bse.2435 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | This is the peer reviewed version of the following article: Day, S, Godsell, J, Masi, D, Zhang, W. Predicting consumer adoption of branded subscription services: A prospect theory perspective. Bus Strat Env. 2020; 29: 1310– 1330., which has been published in final form at https://doi.org/10.1002/bse.2435. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 12 December 2019 | ||||||||
| Date of first compliant Open Access: | 20 January 2022 | ||||||||
| Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
 |
View Item |
Downloads
Downloads per month over past year
