Consumer behavior- temporal distance

Consumer behavior- temporal distance

1. Construal level theory (Trope, Lieberman & Wakslak, 2007; Trope & Lieberman, 2010)

2. When a purchase is imminent consumers prefer prevention-framde products because they are more sensitive to the possible pain caused by not achieving their purchasing goal, but when the purchase is in the distant future, consumers prefer promotion-framed products because of the pleasure they anticipate from achieving their purchase goals. (Molgilner, Aaker & Pennington, 2008)

3. When adoption is in the distant future consumers are more concerned with performance- and symbolic-benefit uncertainty, but when adoption is in the near future, concerns shift to switching- and affective-cost uncertainty. In the distant future outcome simulation is more effective in reducing uncertainties and enhancing feelings and intentions, but in the near future process simulation is better at reducing uncertainties, anxiety and increasing intentions (Cataño, Sujan, Kacker & Sujan, 2008)

4. Consumers are heavily biased towards the present.. Hyperbolic discounting or "present bias" means thata the rate at which an outcome is discounted over time decreases as the time horizon geets longer. The athors propose that hyperbolic discounting occurs because subjective estimates of duration do not accurately map onto objective time. This mapping is non-linear and insensitive to changes in duration; however hyperbolic discounting is attenuated when duration is salient.(Zauberman, Kim, Malkoc & Bettman, 2009)

5. Consumers perceived a target event as more distant when a greater number of related intervening events occur in the time interval since the target event. Unrelated intervening events have no effect. (Zauberman, Levav, Diehl & Bhargave, 2009)