Enrique Manzur

Comparative advertising effectiveness in Latin America: evidence from Chile

Purpose – The purpose of this study is to test the viability of comparative advertising in Chile.Design/methodology/approach – Data were collected via controlled experimentation. The study employed a 3 (comparative advertising intensity: noncomparative, indirect comparative, and direct comparative)×2 (product category involvement: low, high)×2 (sponsor brands relative market share: market leader, other brand) between‐subjects factorial design.Findings – The results suggest that direct and indirect comparative advertisements are not more effective than noncomparative advertisements in Chile. Additionally, data do not support the idea that the effect of comparative advertising intensity is moderated by the product category involvement and/or by the sponsor brands relative market share. Since comparative advertising was not shown to be more effective than noncomparative advertising, the authors hypothesize that it is due to cultural biases and the novelty of comparative advertising in Latin America, as exp...

Research Note : Sample size in content analysis of advertising: The case of Chilean consumer magazines

In the absence of studies addressing how to sample advertising in content analysis in a reliable manner, this paper aims to determine the most efficient way to select from a year’s worth of issues for conducting content analysis of advertising in terms of sample size and type. This article specifically examines the cases of three Chilean consumer magazines: Qué Pasa (a weekly news magazine), Cosas (a bimonthly celebrity/interview magazine), and Paula (a monthly women’s magazine). Results show that the most efficient sample size depends on the magazine type/frequency (ranging from 6 to 12) and that stratified random sampling is more efficient than the use of a simple random method.

Los Estudios de Opinión y su Influencia en las Preferencias de las Personas

Resumen es: Este articulo revisa la evidencia existente sobre la influencia que las encuestas tienen en la manifestacion de preferencias tanto en terminos de asumir...

Store price promotion strategies: an empirical study from Chile

Purpose The purpose of this paper is to examine two popular price promotion strategies – price matching guarantees (PMGs) and everyday low prices (EDLP) – and their effects on Chilean consumer behavior in terms of consumer perceptions of low prices, search behavior and purchase intention. Design/methodology/approach A quasi experiment with three scenarios was conducted to test price promotion effects. Subjects were instructed to respond a questionnaire that included the dependent variables. Findings Results show that EDLP and PMG strategies increase perceptions of low prices and affect purchase intentions. These effects are significantly higher for stores offering EDLP than PMG. However, when consumers are exposed to two or more price promotion strategies (rather than one) they reduce their purchase intentions for a specific store and increase their search intentions. Research limitations/implications This is an initial study exploring the effects of price promotion strategies on consumers. Future researc...

Examining the “Decoy” Effect in Substitute and Related Products: Evidence from Chile (Extended Abstract)

Neoclassical economics is based on the premise that models that characterize rational behavior also characterize actual human behavior. Despite its theoretical appeal, the economic theory of the consumer behavior has not found widespread application in marketing. One reason is that many marketing variables fall into the category that behavioral economics refer to as framing. Behavioral economists have shown that often choice depend on the way the problem is presented as much as on the objective characteristics of it. However, within traditional economic theory framing should not alter behavior (Thaler 1987; Bateman et al. 2008; Kahneman 2010).

Endowment effect in Latin America: empirical evidence and implications

Authors from several disciplines—decision sciences, management, marketing, behavioral economics—have documented the existence of anomalies to the standard rational model of human behavior. Among several anomalies, the endowment effect has found substantive support in previous research. Few studies have explored the endowment effect in developing countries. This study reports the results of an experiment conducted in Chile to empirically analyze the endowment effect in an experimental setting. The results support the hypothesis that endowment effects are also applicable to Chilean and Latin American consumers, adding to the growing evidence in favor of quasi-rational models of consumer behavior. Implications for marketing, management and policy-making practices are briefly presented.

Analysis of the AFP Industry Using Customer Lifetime Value

Understanding the long-term price matching effects on consumers is important to evaluate the effectiveness of these policies in stimulating customer retention. In industries with low product differentiation and low consumer involvement (e.g., AFP Industry), it can be seen that choosing a product is based on habitual purchasing behavior (inertia). The objective of this article is to analyze the competitor convenience of improving customer retention by matching the lowest price in the AFP Industry. Results suggest that matching the industry’s price leader reduces the company’s CLV, diminishing competitor incentives to make this marketing effort.

Endowment Effect in Latin America: An Experiment

Authors from several disciplines - decision sciences, management, marketing, behavioral economics - have documented the existence of anomalies to the standard rational model of human behavior. Among several anomalies, the endowment effect is a key finding of this previous research. Few studies have explored the endowment effect in developing countries. This study reports the results of an experiment conducted in Chile to empirically analyze the endowment effect. Findings are consistent with previous international evidence suggesting the ownership itself produces value to consumers (and decision makers). Implications for marketing, management, business education and policy making practices are briefly presented.