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 July 23, 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 July 23, 2014).

Share This




More Science & Society News

Wednesday, July 23, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Courts Conflicted Over Healthcare Law

Courts Conflicted Over Healthcare Law

AP (July 22, 2014) Two federal appeals courts issued conflicting rulings Tuesday on the legality of the federally-run healthcare exchange that operates in 36 states. (July 22) Video provided by AP
Powered by NewsLook.com
What Self-Made Women Need to Know Financially Before Getting Hitched

What Self-Made Women Need to Know Financially Before Getting Hitched

TheStreet (July 21, 2014) Halle Berry was recently ordered to pay her ex-boyfriend Gabriel Aubry $16,000 a month in child support by a California judge for their daughter Nahla. As women make strides in the workforce, they are increasingly left holding the bag when relationships end regardless of marital status. 'What Monied Women Need to Know Before Getting Married or Cohabitating' discusses information such as debt incurred during the marriage is both spouse's responsibility at divorce, whether after ten years of marriage spouses are entitled to half of everything and why property acquired within the marriage is fair game without a pre-nup. Video provided by TheStreet
Powered by NewsLook.com
$23.6 Billion Awarded To Widow In Smoking Lawsuit

$23.6 Billion Awarded To Widow In Smoking Lawsuit

Newsy (July 20, 2014) Cynthia Robinson claims R.J. Reynolds Tobacco Company hid the health and addiction risks of its products, leading to the death of her husband in 1996. Video provided by Newsy
Powered by NewsLook.com
Clock Ticks Down on Internet Speed Debate

Clock Ticks Down on Internet Speed Debate

Reuters - US Online Video (July 18, 2014) The FCC received more than 800,000 comments on whether and how internet speeds should be regulated, even crashing its system. Lily Jamali 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:
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