Elisabeth Brüggen

A Critical Comparison of Offline Focus Groups, Online Focus Groups and E-Delphi

The boom in online marketing research represents one of the fastest-growing segments of the research industry. Although the design and quality of online surveys has received widespread attention, l...

Extreme makeover: short- and long-term effects of a remodeled servicescape

Using survey and transaction data from a natural experiment in a fast-food chain, the authors investigate the effects of store remodeling. They test (1) short- and long-term effects on customers’ cognitions, affect, and behavioral intentions; (2) the moderating impact of spontaneous versus planned and group versus single-customer store visits; and (3) the differential effects on two store performance measures: average customer spending and store traffic. The results show that, in line with adaptation-level theory, short-term remodeling effects lose strength in the long run (i.e., after six months). Furthermore, customers on a spontaneous trip or in a group tend to be more responsive to store remodeling than customers on a planned trip or alone. Finally, whereas average spending increases in the short run and then returns to the baseline, store traffic initially remains unaffected and even shows a dip in the long run. These findings imply that ignoring the time-variant character of remodeling effects, the nature of customers’ store visits, or the impact on store traffic may lead to inappropriate allocation of marketing resources.

Individual differences in motivation to participate in online panels: the effect on reponse rate and reponse quality perceptions

The majority of online research is now conducted via discontinuous online access panels, which promise high response rates, sampling control, access to populations that are hard to reach, and detailed information about respondents. To sustain a critical mass of respondents, overcome panel attrition and recruit new panel members, marketers must understand how they can predict and explain what motivates people to participate repeatedly in online surveys. Using the newly developed survey participation inventory (SPI) measure, we identify three clusters of participants, characterised as voicing assistants, reward seekers and intrinsics. Our results suggest that most online surveys are filled out by intrinsically motivated respondents that show higher participation rates, response effort and performance; incentives do not offer an important response motive.

Well-Appreciated but (Too) Difficult Pensions Choices? Insights from the Swedish Premium Pension System

We analyze preferences and beliefs of members in a DC pension scheme from Sweden, one of the first countries that launched choice-based funded individual pension accounts. Based on a survey among 2,646 members, we study the effect of choice overload, risk tolerance, and subjective knowledge on choice behavior and financial well-being. We find that more risk-averse and less knowledgeable members tend to invest in the default fund – a fund that is, however, one of the riskiest options on the choice menu. On top of this mismatch between members’ risk preferences and their investment choices, we find those members are more likely to feel negative about their future financial well-being. We also find a positive correlation between financial well-being and choice appreciation, whereas the act of choosing a fund has only minor impact.

The Retirement Belief Model: Understanding the Search for Pension Information

Many individuals avoid information relevant for retirement planning. This behavior is worrying as pension systems shift risks and responsibilities to individuals. Individuals who avoid pension information fail to discover whether they save too little for retirement, negatively affecting their long-run financial well-being. We generate knowledge about the factors that stimulate or hinder the search for pension information. Using an interdisciplinary lens, we develop a unifying model - the Retirement Belief Model (RBM) - and empirically validate it with field data from the Netherlands and United Kingdom. We find that the RBM core beliefs (susceptibility, severity, benefits, barriers, and self-efficacy) as well as trust and emotions significantly explain search for pension information. Our findings help both pension providers and policy makers in improving pension communication by stressing, for example, the benefits of information acquisition and designing segment specific approaches.

Life events and participant engagement in pension plans

We study the use of life events (e.g., getting married, starting a new job) for effective pension communication. Pension plan participants are often not open to pension communication, nor do they engage in pension planning. Overcoming this lack of engagement is important: participants should form realistic expectations about their retirement finances, discover pension gaps early enough to be able to take appropriate action, and experience less negative emotions and retirement anxiety in case of unwarranted pessimistic expectations. Sending pension-related information when important life events take place is often suggested to enhance the effectiveness of communication. Life events may represent teachable moments and thus lead to more openness to pension communication and planning. In this paper, we first review the literature on life events as teachable moments. Second, we provide an overview of life events that are especially suited to increase engagement. Third, we present empirical evidence on life events and participant engagement. Finally, we derive implications for theory as well as practice. Overall, we find that in theory life events appear to be good points to improve communications. The evidence from in-depth interviews with experts and pension plan participants, as well as survey data from participants, shows mixed results. It seems that several major challenges need to be addressed for successfully using of life events.

Framing the Future: Using Investment and Assurance Frames to Encourage Retirement Information Search

Many pension plan participants are inactive. They do not look up information on their retirement income and discover pension gaps too late to take action. We analyze how pension communication framing interventions motivate participants to acquire retirement income information. First, we show that classical loss frames (vs. gain) are an effective intervention, but also evoke negative perceptions and evaluations. Second, we develop new frames (assurance, investment) tapping into the same psychological mechanisms while avoiding loss wording. Based on a field experiment with 7,315 pension plan participants we find assurance framing to be an effective intervention that also avoids evoking negative evaluations.