Featured Research

from universities, journals, and other organizations

How do consumers create markets? The case of the minimoto

Date:
October 15, 2013
Source:
Journal of Consumer Research, Inc.
Summary:
Consumers have the power to do more than just respond to products that companies put on the market; they can actually change and develop new markets.

Consumers have the power to do more than just respond to products that companies put on the market; they can actually change and develop new markets, according to a new study in the Journal of Consumer Research.

“Firm-centric models of market development view consumers as relatively passive, downstream actors, whose agency and ability to affect a market are limited to decision making in a realm of choices controlled by marketing institutions,” write authors Diane M. Martin and John W. Schouten (both Aalto University). “Recently consumer culture scholars have explored the power of various kinds of consumer resistance to change markets or develop new ones.”

The authors studied the emergence and growth of a new market within the motorcycle industry, the minimoto. The original minimoto is a child’s minibike that has been modified significantly to be ridden and raced by adults. Minimoto aficionados are passionate about the bikes, and there is currently a thriving global market for parts to modify stock minibikes from major manufacturers such as Honda, Kawasaki, and Yamaha.

The mainstream motorcycle industry has always viewed minimotos as a niche product in a shrinking segment of dirt bikes. The authors explain the emergence of the minimoto market as a process in three stages: consumer innovation, where creative consumers mobilize available objects and other resources to overcome barriers; community formation, when creative consumers engage other people in the same activities, leading to the development of products, practices, and infrastructures; and a final stage of market emergence.

“Such organic market emergence distributes the risk and the investment of market building broadly among consumers rather than concentrating it at the level of the firm,” the authors write. “And it offers insight into the kinds of actors that have the power to shift markets in fundamental ways.”


Story Source:

The above story is based on materials provided by Journal of Consumer Research, Inc.. Note: Materials may be edited for content and length.


Journal Reference:

  1. Diane M. Martin and John W. Schouten. Consumption-Driven Market Emergence. Journal of Consumer Research, February 2014

Cite This Page:

Journal of Consumer Research, Inc.. "How do consumers create markets? The case of the minimoto." ScienceDaily. ScienceDaily, 15 October 2013. <www.sciencedaily.com/releases/2013/10/131015123433.htm>.
Journal of Consumer Research, Inc.. (2013, October 15). How do consumers create markets? The case of the minimoto. ScienceDaily. Retrieved April 21, 2014 from www.sciencedaily.com/releases/2013/10/131015123433.htm
Journal of Consumer Research, Inc.. "How do consumers create markets? The case of the minimoto." ScienceDaily. www.sciencedaily.com/releases/2013/10/131015123433.htm (accessed April 21, 2014).

Share This



More Science & Society News

Monday, April 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Drought Concerns May Hurt Lake Tourism

Drought Concerns May Hurt Lake Tourism

AP (Apr. 18, 2014) Operators of recreational businesses on western reservoirs worry that ongoing drought concerns will keep boaters and other visitors from flocking to the popular summer attractions. (April 18) Video provided by AP
Powered by NewsLook.com
Small Reactors Could Be Future of Nuclear Energy

Small Reactors Could Be Future of Nuclear Energy

AP (Apr. 17, 2014) After the Fukushima nuclear disaster, the industry fell under intense scrutiny. Now, small underground nuclear power plants are being considered as the possible future of the nuclear energy. (April 17) Video provided by AP
Powered by NewsLook.com
Heartbleed Hack Leads To Arrest

Heartbleed Hack Leads To Arrest

Newsy (Apr. 17, 2014) A 19-year-old computer science student has been arrested in relation to a data breach of 900 social insurance numbers from Canada's revenue agency. Video provided by Newsy
Powered by NewsLook.com
Scientists Create Stem Cells From Adult Skin Cells

Scientists Create Stem Cells From Adult Skin Cells

Newsy (Apr. 17, 2014) The breakthrough could mean a cure for some serious diseases and even the possibility of human cloning, but it's all still a way off. Video provided by Newsy
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:
from the past week

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