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- W267506980 abstract "ABSTRACT The focus of this study is suggest how the degree of power consumers possess in the marketplace develops in part from the nature of the relationships between retailers and their targeted markets. Propositions are developed facilitate empirical research by consumer researchers. By furthering awareness of the nature of consumer power, consumer educators and activists may gain a clearer understanding of the relationships between consumers and retailers, and retailers may be in a better position determine the optimal investment of limited resources. ARTICLE Introduction Given the pervasive role that shopping activities and consumption play in the lives of individuals, an examination of the power possessed by consumers in the marketplace appears warranted. The relative power held by consumers can be expected have a direct bearing on the nature of their relationships with businesses, namely retailers. Relatively powerless consumers, for instance, can be expected experience a greater incidence of retail encounters where they may be at a disadvantage whereas relatively more powerful consumers can be expected experience a lesser incidence of retail encounters where they may be at a disadvantage. Although a number of approaches studying consumer power exist (e.g., the effects of integrative marketing communication strategies on consumer power; consumerism and consumer power; individual consumer characteristics and consumer power), the focus of this paper is more fundamental. The objective is explore the nature of consumer power emanating from the relationship between retailers and their targeted markets. Conclusions are drawn concerning the importance of continuing study consumer power. Consumer Power Although there is no definitive agreement on how describe or examine consumer power, most definitions refer the ability of consumers affect the behavior of businesses, specifically the ability of consumers entice retailers provide offerings which are consistent with their needs and desires. Lack of agreement, however, exists concerning what constitutes individuals' needs and desires. Consequently, disagreement exists over the degree of power consumers actually possess in the marketplace. Denegri-Knott, Zwick, and Schroeder (2006) attempt eliminate some of the confusion by identifying three different models through which consumer power has been viewed: consumer sovereignty, consumer culture, and discursive power. Each is briefly discussed below. Consumer Sovereignty Model Consumer sovereignty is defined as the ability of consumers to determine, from the offerings of producers of goods and services, what goods and services will be produced (Shaw, Newholm, and Dickinson 2006, p. 1052). Within this model, the extent which consumers possess power in the marketplace is regarded be based on two issues: consumer rationality and freedom of choice. Consumer rationality assumes that individuals act in a manner that will allow them communicate their needs and desires retailers in such a way that retailers will have the ability recognize and fulfill these needs and desires. Furthermore, for consumers possess freedom of choice, they must have access products of differing quality and price, and have the ability and motivation seek, process, and act upon information about quality and price. Using this approach consumer power, many believe that consumers today possess unprecedented power in the marketplace. They base their conclusions on the fact that consumers possess easy access an overwhelming amount of information. Through the Internet, for instance, consumers often find that they have access a heretofore unimaginable quantity of product information, extensive information on retailers' inventories and business practices, and access retailers from around the globe. Greater access information along with the ability and motivation use it are assumed better allow consumers communicate their needs and desires retailers and, as a result, provide retailers with the information needed provide the broad assortments of products varying in quality and price needed meet the diverse needs and desires of their customers. …" @default.
- W267506980 created "2016-06-24" @default.
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- W267506980 date "2010-07-01" @default.
- W267506980 modified "2023-09-26" @default.
- W267506980 title "Reconceptualizing Consumer Power: A View from Market Segment Theory in Retailing" @default.
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