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| Does a Fire at the City Gate Harm Other Fish in the Pool? The Devaluing Effect of Promotional Out-of-Stock of New Products on the Similar Alternatives |
| LIU Jianxin1, FAN Xiucheng2, JIN Xiangdong3 |
1.College of Economics and Management, Southwest University
2.School of Management, Fudan University
3.College of Economics and Business, Central China Normal University |
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Abstract: While the promotional out-of-stock of new products (PONP) leads to their temporal stock-out and in turn provides rare opportunities for similar alternatives to increase prices,it may also produce a dragging effect,resulting in consumers' lower evaluation.However,prior research is inadequate.By constructing a model of moderated dual mediators based on both prospect theory and control motivation theory,we explore the internal mechanism and boundary conditions underlying the devaluing effect of PONP on the similar alternatives,and test them in the lab.Across three experiments,the results show that (1)PONP indeed brought about the devaluing effect of the similar alternatives,and moreover price-promoted out-of-stock generated more devaluing effect than non-price-promoted out-of-stock; (2)reference dependence and dependence of control commonly mediated the devaluing effect of PONP on the similar alternatives,and particularly the former played a positive mediator role and the latter did the negative; and (3)consumer power sense (including trait power sense and state power sense) can regulate the dual mediating effect of reference dependence and control deprivation.Low power sense individuals are more likely to be dominated by reference dependence mediating effect,while high power sense individuals are more likely to be dominated by control deprivation mediating effect.The findings have an important theoretical significance for enriching such theories as new product promotion,product scarcity effect and phantom induction effect,and also have managerial implications for improving manufacturer or retailers' new product promotion,consumers' rationale to treat PONP and regulators' market supervision.
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Received: 27 September 2023
Published: 15 February 2024
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2024, Vol. 44 
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