Premium
The marketing firm: Retailer and consumer contingencies
Author(s) -
Larsen Nils Magne,
Sigurdsson Valdimar,
Breivik Jørgen,
Fagerstrøm Asle,
Foxall Gordon R.
Publication year - 2020
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3053
Subject(s) - trips architecture , business , transaction cost , database transaction , value (mathematics) , marketing , advertising , computer science , finance , machine learning , parallel computing , programming language
Efficiency has emerged as an important consumer value and thus has increased the importance of the in‐store search as one facet of consumer transaction costs. This paper contributes to the development of a marketing theory of the firm by analyzing the consumers' in‐store efficiency ratios and the retailers' natural sources of resistance to offer efficiency to all of their customers. We propose new behavioral metrics for consumer transaction costs. Our data from the behavioral tracking of 497 complete shopping trips reveal more transaction costs for quick shopping trips than for regular shopping trips, which demonstrates friction between retail and consumer transaction costs for quick trips.