nep-mkt New Economics Papers
on Marketing
Issue of 2020‒05‒04
two papers chosen by
Marco Novarese
Università del Piemonte Orientale

  1. Visual Elicitation of Brand Perception By Daria Dzyabura; Renana Peres
  2. Attention to online sales: The role of brand image concerns By Dertwinkel-Kalt, Markus; Köster, Mats

  1. By: Daria Dzyabura (New Economic School, Moscow, Russia); Renana Peres (Hebrew University of Jerusalem, Israel)
    Abstract: Understanding how consumers perceive brands is at the core of effective brand management. In this paper, we present the Brand Visual Elicitation Platform (B-VEP), an electronic tool we developed that allows consumers to create online collages of images that represent how they view a brand. Respondents select images for the collage from a searchable repository of tens of thousands of images. We implement an unsupervised machine-learning approach to analyze the collages and elicit the associations they describe. We demonstrate the platform’s operation by collecting large, unaided, directly elicited data for 303 large US brands from 1,851 respondents. Using machine learning and image-processing approaches to extract from these images systematic content associations, we obtain a rich set of associations for each brand. We combine the collage-making task with well-established brand-perception measures such as brand personality and brand equity, and suggest various applications for brand management.
    Keywords: Image processing, machine learning, branding, brand associations, brand collages, Latent Dirichlet Allocation
    Date: 2019–12
  2. By: Dertwinkel-Kalt, Markus; Köster, Mats
    Abstract: We provide a novel intuition for why manufacturers restrict their retailers' ability to resell brandproducts online. Our approach builds on models of limited attention according to which pricedisparities across distribution channels guide a consumer's attention toward prices and lower herappreciation for quality. Thus, absent vertical restraints, one out of two distortions - a quality ora participation distortion - can arise in equilibrium. We show that, by ruling out both distortions,vertical restraints can be socially desirable, but can also hurt consumers through higher retail prices.Thereby, we identify a novel trade-off between efficiency and consumer surplus.
    Keywords: Limited Attention,Online Sales,Antitrust,Vertical Restraints
    JEL: D21 K21 L42
    Date: 2020

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