Advertising, Consumer Awareness, and Choice: Evidence from the U.S. Banking Industry
Advertising, Consumer Awareness, and Choice: Evidence from the U.S. Banking Industry
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DOI：
10.2139/ssrn.2661659
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发表时间：
2016-08
期刊：
影响因子：
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通讯作者：
Elisabeth Honka;Ali Hortaçsu;Maria Ana Vitorino
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文献类型：
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作者：
Elisabeth Honka;Ali Hortaçsu;Maria Ana Vitorino
广告如何影响消费者决策和市场结果？我们利用一个详细的数据集，消费者的购物行为和选择零售银行账户调查广告的影响，购物过程的不同阶段：意识，考虑和选择。我们制定了一个结构模型，其中允许广告影响决策的每个独立阶段。该模型通过假设消费者进行昂贵的搜索，使消费者对考虑集的选择内生化。我们的研究结果表明，在美国银行市场的广告主要是意识的转移，而不是考虑或选择。广告使消费者意识到更多的选择;因此，消费者搜索更多，找到更好的替代品。反过来，这增加了小型银行的市场份额，使美国银行业更具竞争力。
How does advertising influence consumer decisions and market outcomes? We utilize a detailed data set on consumer shopping behavior and choices over retail bank accounts to investigate the effects of advertising on the different stages of the shopping process: awareness, consideration, and choice. We formulate a structural model in which advertising is allowed to affect each of the separate stages of decision-making. The model endogenizes consumers’ choices of consideration sets by positing that consumers undertake costly search. Our results indicate that advertising in the U.S. banking market is primarily a shifter of awareness as opposed to consideration or choice. Advertising makes consumers aware of more options; thus consumers search more and find better alternatives than they would otherwise. In turn, this increases the market share of smaller banks making the U.S. banking industry more competitive.