Social Interactions and Monetary Incentives in Driving Consumer Repeat Behavior

Social Interactions and Monetary Incentives in Driving Consumer Repeat Behavior

Companies are eager to leverage social interactions among consumers by embedding social networking tools on their websites and actively integrating marketing actions with consumers’ social activities.

In this seminar, Professor Minakshi Trivedi from the Neeley Business School, Texas Christian University will discuss the impact of online social interactions on repeat usage behavior and the effectiveness of monetary incentives by formulating a model that parses out the effects of these individual factors.

Using a unique data set from a wellness program, it was found that online social interactions play a key role in driving repeat behavior, and after controlling for contemporaneous correlations from same-office friends, the social influence emanates even from distant friends working in different offices.

Monetary incentives also have a significant impact on repeat usage and that ignoring this may overstate the impact of social influence. Furthermore, what-if scenario analyses show that social interactions are more effective than monetary incentives when both are present. Professor Trivedi will also explore social influence theories to understand the underlying process mechanisms that may operate in the repeat usage context. From these findings, the strategic implications are offered for marketing practice.

Event Details

WHEN:
Monday 6 November 2017
10:00 am - 11:00 am
WHERE:
Financial Decision Lab
Level 1, Building E4A
RSVP:
Wednesday 1 November 2017

The Speaker

Professor Minakshi Trivedi is visiting the Faculty of Business and Economics as part of its Visiting Domestic Scholar Scheme. 

Professor Trivedi is an internationally renowned Marketing Professor with expertise in the empirical analysis of retailing issues and consumption behavior, especially the impact of social media and online channels on consumer behavior.

Her research has been published in prestigious journals including Journal of Marketing Research, Marketing Science, Management Science, Journal of Retailing and Journal of the Academy of Marketing Science. She has received several accolades for her research, including the Fulbright Research Scholar Award in 2014 for “Social Media: A Game Changer” and is currently on the editorial advisory board of the Journal of Retailing.

Professor Trivedi is currently Professor and Chair of the Marketing Department at Neeley School in TCU, after serving as professor of marketing and co-director of the Center for Relationship Marketing at SUNY Buffalo. She holds a PhD in Management Science from the University of Texas at Dallas, an MBA from BK School of Management in Ahmedabad, India, and an MSc from Delhi University in India.

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