Featured Research

from universities, journals, and other organizations

iPhone 5: Consumers focus too much on having the latest features, finds new study

Date:
September 21, 2012
Source:
Washington University in St. Louis
Summary:
More than 2 million consumers got to gloat Friday about their shrewdness in procuring an iPhone 5, with its larger screen and 200 additional features through its new operating system. But once the novelty wears off, will they still enjoy their purchase? It depends on why they bought it, says new research.

More than 2 million consumers got to gloat Friday about their shrewdness in procuring an iPhone 5, with its larger screen and 200 additional features through its new operating system.

Related Articles


But once the novelty wears off, will they still enjoy their purchase?

It depends on why they bought it, says new research from a marketing professor at Olin Business School at Washington University in St. Louis.

Across five studies and four product domains, Joseph K. Goodman, PhD, assistant professor of marketing, found that consumers fail to estimate their feature usage rate before purchasing multifunctional products, which negatively affects product satisfaction.

The study, "Having Versus Consuming: Failure to Estimate Usage Frequency Makes Consumers Prefer Multi-feature Products," is forthcoming in the Journal of Marketing Research.

"We propose that consumers focus on having features instead of elaborating on how often a feature will be used, and this can lead to a decrease in product satisfaction," Goodman says.

He and his co-author, Caglar Irmak, PhD, assistant professor at the University of South Carolina, show that this shift in preferences is due to a change in elaboration from using to having features.

The pair identifies three key moderators to this effect: need for cognition, feature trivialness and materialism.

"Consumers focus too much on just having the latest features, and don't spend time elaborating on how often they will use the features," Goodman says "When they do actually elaborating on usage, then they tend to buy lowered featured products, and they tend to be more satisfied with their purchase, regardless of whether they buy a high or low feature product.

What should consumers do?

"Our findings can't tell consumers what to buy, but they do suggest that consumers should at least stop and consider how often they are going to use each new additional feature before they make their decision," Goodman says. "This little act of consideration can lead to greater satisfaction down the road."


Story Source:

The above story is based on materials provided by Washington University in St. Louis. The original article was written by Neil Schoenherr. Note: Materials may be edited for content and length.


Cite This Page:

Washington University in St. Louis. "iPhone 5: Consumers focus too much on having the latest features, finds new study." ScienceDaily. ScienceDaily, 21 September 2012. <www.sciencedaily.com/releases/2012/09/120921123952.htm>.
Washington University in St. Louis. (2012, September 21). iPhone 5: Consumers focus too much on having the latest features, finds new study. ScienceDaily. Retrieved April 19, 2015 from www.sciencedaily.com/releases/2012/09/120921123952.htm
Washington University in St. Louis. "iPhone 5: Consumers focus too much on having the latest features, finds new study." ScienceDaily. www.sciencedaily.com/releases/2012/09/120921123952.htm (accessed April 19, 2015).

Share This


More From ScienceDaily



More Science & Society News

Sunday, April 19, 2015

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

L.A. Water Cops Remind Residents of Water Conservation

L.A. Water Cops Remind Residents of Water Conservation

Reuters - US Online Video (Apr. 18, 2015) "Water cops" in Los Angeles remind the public about water conservation methods amid California&apos;s prolonged drought. Julie Noce reports. Video provided by Reuters
Powered by NewsLook.com
Dr. Oz Under Fire For 'Quack Treatments' Yet Again

Dr. Oz Under Fire For 'Quack Treatments' Yet Again

Newsy (Apr. 17, 2015) Ten doctors signed a letter urging Columbia University to drop Dr. Oz as vice chair of its department of surgery, saying he plugs "quack" treatments. Video provided by Newsy
Powered by NewsLook.com
WikiLeaks Refuses To Let Sony Hack Die, Posts Database

WikiLeaks Refuses To Let Sony Hack Die, Posts Database

Newsy (Apr. 17, 2015) WikiLeaks&apos; Julian Assange says the hacked emails and documents "belong in the public domain." Video provided by Newsy
Powered by NewsLook.com
Cybercrime Could Cost $400 Bln

Cybercrime Could Cost $400 Bln

Reuters - Business Video Online (Apr. 16, 2015) Representatives from around 160 countries gather at the Hague to discuss cyber space and cyber security, including the dilemmas and challenges regarding the evolution of the internet. Ciara Lee reports. Video provided by Reuters
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Science & Society

Business & Industry

Education & Learning

In Other News

... from NewsDaily.com

Science News

    Health News

      Environment News

        Technology News



          Save/Print:
          Share:

          Free Subscriptions


          Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

          Get Social & Mobile


          Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

          Have Feedback?


          Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
          Mobile: iPhone Android Web
          Follow: Facebook Twitter Google+
          Subscribe: RSS Feeds Email Newsletters
          Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins