{"title":"Awe helps NFTs. The added value of object-inspired awe for blockchain-based digital art","authors":"Jana-Verena Gerhart , Aysu Senyuz , Bernadette Kamleitner","doi":"10.1016/j.ijresmar.2025.05.002","DOIUrl":"10.1016/j.ijresmar.2025.05.002","url":null,"abstract":"<div><div>Blockchain technology plays a crucial role in digital art markets, where products are often purchased for their strong emotional benefits. This research explores whether object-inspired awe impacts artwork valuation in digital markets. Through eight studies, including real auction data from Christie’s and seven pre-registered experiments, the authors find that object-inspired awe increases consumer valuation of digital art. Notably, the positive relationship between object-inspired awe and valuation is strengthened when a blockchain ownership certificate is present (versus absent), and attenuated when the ownership status is semi-fungible (versus non-fungible). These findings are in line with a process wherein awe influences valuation by enhancing consumers’ sense of meaning with regard to an artwork. In sum, this research underscores the benefits of focusing on emotion in the context of blockchain-enabled digital goods, and reveals novel insights on the effect of object-inspired awe.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 626-643"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chenming Peng , Martin Eisend , Diandian Xiang , Zengxiang Chen , Hong Zhao
{"title":"A meta-analysis of corporate social responsibility effects: The role of stakeholder type and country factors","authors":"Chenming Peng , Martin Eisend , Diandian Xiang , Zengxiang Chen , Hong Zhao","doi":"10.1016/j.ijresmar.2024.11.003","DOIUrl":"10.1016/j.ijresmar.2024.11.003","url":null,"abstract":"<div><div><span><span>Although research indicates that corporate social responsibility<span> (CSR) can yield positive consumer responses, the challenge remains for companies, especially multinational ones, to effectively tailor CSR activities across different countries to achieve favorable outcomes. To address this, we classify CSR activities based on </span></span>stakeholder theory into core and extended CSR types. We then introduce a </span><em>meta</em><span>-analytic framework that incorporates five country factors to examine how they affect the differential effects of these CSR types. Using a dataset comprising 940 effect sizes from 202 papers across 43 countries on six continents, we find that core CSR generally elicits more positive consumer responses than extended CSR, and that this effect is moderated by country factors. The positive differential effect of core over extended CSR is greater in societies that prioritize secular-rational values over traditional values, and survival values over self-expression values. Additionally, this positive differential effect increases with greater internet penetration but decreases with higher national economic growth rates and tertiary school enrollment. These findings advance the understanding of cross-country differences in CSR effects and types, offering valuable insights for international marketing managers.</span></div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 809-826"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145050460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Non-Fungible Tokens (NFTs) as digital brand extensions: Evidence on financial performance and parent-brand spillovers","authors":"Leif Brandes, Katharina Dölp","doi":"10.1016/j.ijresmar.2025.01.001","DOIUrl":"10.1016/j.ijresmar.2025.01.001","url":null,"abstract":"<div><div>Fueled by new technologies, such as blockchain and Web3, brands are increasingly extending into the digital space. One such novel extension is the non-fungible token (NFT). Numerous examples indicate that brands’ market performance with NFTs varies widely in terms of short-term revenues and spillovers to the parent brand. However, little is known about the factors that are associated with a successful performance. The goal of our research was to identify those factors. Regarding short-term revenues, we empirically tested the value of several possible success drivers; these drivers reflected a combination of the most important success factors for physical brand extensions (e.g., extension fit, brand equity) and value drivers for NFTs (e.g., added NFT utility, number of NFTs in the campaign). Using a novel dataset of 450 NFT campaigns, we document that both types of variables help to predict financial revenues from brand-related NFTs. Going beyond the short-term financial results of NFT campaigns, we also report experimental evidence that shows such campaigns may create negative spillovers for the parent brand. Overall, this research demonstrates (i) which value drivers correlate with a brand’s NFTs success, (ii) which brands are the best fit for NFTs, (iii) in what ways brand managers need to adapt their brand-extension strategies from the physical to the digital environment if they want to succeed with NFTs, and (iv) the risk that brand extensions with NFTs may hurt customers’ attitude towards the parent brand.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 491-521"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Setting sail in a tokenized world: An exploration of the Bored Ape Yacht Club and the co-created consumer experience","authors":"Myriam Brouard","doi":"10.1016/j.ijresmar.2024.03.002","DOIUrl":"10.1016/j.ijresmar.2024.03.002","url":null,"abstract":"<div><div>Imagine if owning a specific baseball card gave you the privilege of attending their home games. Or that having attended previous Taylor Swift tours entitled you to purchase tickets for her next tour. What would that be worth, and how would that change the way in which you relate to the brand or to the artist? This article examines the case of the Bored Ape Yacht Club (BAYC), a prominent Non-Fungible Token (NFT) community. The investigation reveals the multifaceted nature of NFTs, which can act as keys to access exclusive clubs and privileges, and as independent products whose value is inherently linked to market dynamics. By doing a deep dive into one of the most prominent NFT communities, BAYC, this work underscores the potentially transformative effects of NFTs on consumer experience, providing a deeper understanding of value co-creation in the rapidly evolving decentralized landscape.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 522-535"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140398393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Herding behavior in NFT Auction: The role of visual complexity and familiarity","authors":"Peiwen Xie , Eunsoo Kim , Shun Yin Lam , Sadat Reza","doi":"10.1016/j.ijresmar.2024.08.007","DOIUrl":"10.1016/j.ijresmar.2024.08.007","url":null,"abstract":"<div><div>Despite the growing popularity of non-fungible tokens (NFTs) in the market, they still lack established valuation guidelines. Invoking herding and auction theories, this study investigates how NFT collectors’ bidding tendencies are influenced by other collectors’ bidding decisions (herding behavior). This study also examines how NFT visual characteristics, such as complexity and familiarity, moderate herding behavior. We use a computer vision technique to quantify the visual complexity of an NFT and apply transfer learning to capture its visual familiarity. Examining data from a widely used NFT platform, we find evidence of herding behavior in such auctions. Furthermore, our results show that there are nonlinear moderating effects of visual characteristics on herding behavior. Specifically, we find that consumers exhibit a stronger herding tendency at the two extremes of complexity distribution and at the lower extreme of familiarity distribution. Further analysis of the NFT resale market suggests that auction winners consider herding in the primary sale of an NFT as a signal of high demand; thus, they are more willing to resell it and set a higher price premium in the resale. These findings can be taken as input by the NFT market platforms in their NFT display decisions to boost primary market sales and promote resale market participation. The findings can also help content creators formulate creative strategies that lead to higher bidding probability or sales performance.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 684-710"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142257683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yuanyuan Liu, Bingrui Huangfu, Zheng Qiao, Xi Zhao
{"title":"Rarity, the WTA-WTP disparity, and price adjustments in the NFT market","authors":"Yuanyuan Liu, Bingrui Huangfu, Zheng Qiao, Xi Zhao","doi":"10.1016/j.ijresmar.2024.10.003","DOIUrl":"10.1016/j.ijresmar.2024.10.003","url":null,"abstract":"<div><div>Non-fungible tokens (NFTs) have become popular and are frequently traded in marketplaces. The current study examines how an NFT’s within-collection rarity influences sellers’ and buyers’ pricing and pricing dynamics. Relying on the pricing history of CryptoPunks, one of the most famous and valuable NFT collections, we find that rarity’s positive impact on willingness to accept is greater than on willingness to pay, which generates a larger pricing disparity. We further examine rarity’s impact on subsequent price adjustments and find that as rarity increases, buyers are more inclined to make greater price concessions, and sellers are reluctant to reduce their prices. Results also show that rarity’s positive impact on pricing is moderated by the NFT’s past ownership, agents’ trading experiences, and agents’ average holding periods for previous NFTs. Finally, an experiment reveals the mediating role of the focus on rarity that sellers tend to consider more about the NFT’s rarity than buyers, and therefore rarity’s positive impact on pricing is more salient for sellers than buyers.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 594-609"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145057177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The effectiveness of advertising and price during conflict delistings","authors":"Marleen Hermans , Kathleen Cleeren , Néomie Raassens","doi":"10.1016/j.ijresmar.2024.12.001","DOIUrl":"10.1016/j.ijresmar.2024.12.001","url":null,"abstract":"<div><div>Negotiations between manufacturers and retailers often go sour and result in conflict delistings in which the manufacturers’ products are removed from the retailers’ assortment. While conflict delistings can cause major revenue and market share losses for both manufacturers and retailers, prior literature provides little guidance on how to use marketing actions to alleviate these severe damages. To fill this gap, the authors use a contingency framework to assess the impact of advertising and price for both manufacturers and retailers in different conflict delisting situations. Using household scanner data for different conflict delistings, this study reveals that overall the impact of advertising decreases during the conflict delisting for both involved parties while price reductions become more effective for the brand manufacturer (but not the retailer). Importantly, the impact of advertising and price during the conflict delisting depends on conflict characteristics. The impact of advertising will be higher if the firm initiated the conflict and when the conflict is surrounded by a lot of publicity. Price reductions are particularly interesting for retailers, especially when the conflict involved a smaller elimination size, when the retailer was the initiator of the conflict, and when there was less publicity. Price reductions are also fruitful for brand manufacturers in case they did not initiate the conflict.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 866-885"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145049864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A neglected consumer neuroscience technique: Pupillometry and its practical application to consumer research","authors":"Aaron N. McInnes , Billy Sung","doi":"10.1016/j.ijresmar.2024.11.005","DOIUrl":"10.1016/j.ijresmar.2024.11.005","url":null,"abstract":"<div><div>Pupil responses have been investigated for over half a century and can capture insights into consumer behaviour beyond what can be obtained by traditional marketing and consumer research methods alone. Variations in pupil size can reveal underlying psychological processes, including cognitive load, arousal, and emotional reappraisal, that occur in response to marketing stimuli. However, this review highlights that there has been limited application of pupillometry in the existing marketing and consumer research literature. Furthermore, many marketing and consumer research studies employing pupillometry suffer from methodological limitations and a lack of consensus on the psychological parameters that can be measured through changes in pupil size. To demonstrate the appropriate application of pupillometry and to enhance the successful adoption of pupillometry in marketing and consumer research, this review provides an overview of: (1) methodological considerations and potential confounding factors for pupillometric responses; (2) the psychological mechanisms and parameters underlying pupillometric responses; (3) the potential avenues through which pupillometry can be leveraged in marketing and consumer research; and (4) the benefits of applying pupillometry rather than, or jointly with, other psychophysiological and neuromarketing techniques.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 827-843"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145050461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Lucas Stich , Christoph Ungemach , Christoph Fuchs , Martin Spann , Ignazio Ziano , Birga M. Schumpe
{"title":"Transaction-level wage transparency: How fair wage disclosure affects consumer preferences","authors":"Lucas Stich , Christoph Ungemach , Christoph Fuchs , Martin Spann , Ignazio Ziano , Birga M. Schumpe","doi":"10.1016/j.ijresmar.2024.11.006","DOIUrl":"10.1016/j.ijresmar.2024.11.006","url":null,"abstract":"<div><div>Firms are usually reluctant to disclose information about the production costs of their goods and services; however, some firms have recently started to disclose cost information to consumers. This research examines the consequences of disclosing transaction-level wage information on consumer preferences. Eight experiments, both in field and lab settings across multiple service domains, document that disclosing a service worker’s compensation can increase consumer preference for that firm’s service if the compensation is sufficiently high (i.e., perceived as fair by consumers). We provide evidence for a dual-process model, indicating that this greater preference for services provided in a fair-wage setting is driven by consumers’ feelings of anticipated guilt and higher expectations concerning quality. Available social norms regarding fair compensation and the nature of the service worker (human vs. non-human) are both identified as important boundary conditions of the psychological processes. This research offers a first step toward understanding the psychological and behavioral consequences of disclosing transaction-level wage information to consumers, thereby enabling managers to better identify when they should disclose wage information as part of their marketing strategy. This research also informs policy makers on how to encourage social preferences and consumer choices to promote fair outcomes for consumers, firms, and workers.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 844-865"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145050462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gender and racial price disparities in the NFT marketplace","authors":"Yuan Yuan , Xiao Liu , Shunyuan Zhang , Kannan Srinivasan","doi":"10.1016/j.ijresmar.2024.08.008","DOIUrl":"10.1016/j.ijresmar.2024.08.008","url":null,"abstract":"<div><div>This paper empirically investigates the causal impact of avatar gender and race on transaction prices within the Non-Fungible Token (NFT) marketplace. The impetus behind this investigation is grounded in the observation that NFT investors frequently represent a younger, wealthier, and politically progressive demographic, which raises the question of whether this marketplace is less susceptible to prejudice and social bias. Contrary to such expectations, our analysis reveals pronounced gender and racial disparities in NFT prices. Specifically, <em>female</em> CryptoPunks avatars are transacted at a 36.8% lower price compared to their <em>male</em> counterparts (i.e., avatars with similar image attributes), while <em>black</em> CryptoPunks avatars are transacted at a 30.7% lower price compared to their <em>white</em> counterparts. We further identify that avatar features linked to high-tech or higher education attributes (e.g., 3D glasses, Virtual Reality glasses, Nerd glasses) can effectively counter these disparities. We verify the causal patterns revealed in the NFT dataset with a controlled experiment, where NFT buyers are randomly shown the comparable avatars that exhibit variations in race or gender, enabling us to evaluate the impact of these attributes on buyer choices and willingness-to-pay. The experiment confirms the <em>gender</em> (male) and <em>race</em> (white) price premium in the NFT market and suggests that buyers exhibit a preference for NFT avatars resembling their personal identity. We offer insights into policy strategies aimed at promoting racial and gender equity within the NFT marketplace.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 644-667"},"PeriodicalIF":7.5,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142257680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}