In On Market Mavens and Consumer Self Interest 2007, Chelminski And Coulter look at the effect of market mavens on Consumer self-confidence in the US market compared with South Korea.
The question raised in this passage are how market mavens effect The United States markets compared to South Korea’s, these two totally different cultures that both have consumers that shape the economics of these countries. These market mavens look at media and market information to influence them and how they pass information on to others.
The most important information in the article shows how market mavens help the market places by boosting consumer confidence and helping brands and products by spreading positive information about these brands. This could also turn the other way if a market maven does not like or receive a good product and they can spread the news about the product or service causing it to flunk.
The author uses secondary sources from the press,
“Demonstrate that market mavenism is positively related to consumer’s self-esteem, tendency to conform, need for uniqueness, and susceptibility to normative influence.” – Further, Goldsmith et al. p.71
“With a backdrop of increasing globalization of the marketplaces, this work offers an important contribution to the study of the market maven from the international and cross-cultural perspective” (e.g., Albaum & Peterson, 1984;C. Lee & Green,1991) p.71
These quotes show how the writers use the press to build up their knowledge about market mavens and how they open up the marketplaces.
The use of a questionnaire that was given to people in both the U.S.A and South Korean, the U.S. questionnaire included 165 females and 115 males but in South Korea the questionnaire was given to 269 females and 215 males.
The conclusions that the authors results indicate that cultural individualism is related to consumer self-confidences in both the U.S. and South Korea. The market mavens also boost market knowledge and spread the information about the changing markets.
“Given the nature of the data, the intercountry analyses, were not performed, because the unit of analysis in this approach is the country, not the individual. Such analysis requires that individuals sampled for the study are representative of the country, and it favors studies that include a large number of countries.” Craig & Douglas, 2000 p.76
Most important concepts are that they were trying to find out whether market mavens were a cross-cultural thing. Whether market maven existed in every cultural across the world, but due to only having samples from 2 countries it was felt that was not enough evidence.
The author assumes that South Korea and the U.S. is enough people to get a diverse out come, but it is unfortunately deemed unsuitable.
The line of reason that the author takes is that he has managed to show that consumer self-confidences is boosted by the market mavens across the different cultures.
By failing to take the authors finding seriously the implications are that in this international market place. If corporations do not aim at the market mavens they will struggle to find a target market.
The author’s main points of view within the article are looking at market mavens and how they respond to media and changes of information in the market place. It also looks at consumer self confidence and cultural individualism.
I feel that if more questionnaires had been done in more countries there would have had more information to base the results on. It would have found more of a diverse and internationally accurate conclusion whether market mavens boost cross-cultural consumer self-confidence.
Bibliography
Further, Goldsmith et al, On Market Mavens and Consumer Self Interest (2007), p.71, Psychology and Marketing 2007
Lee & Green, (1991), On Market Mavens and Consumer Self Interest (2007), p.71, Psychology and Marketing 2007
Craig & Douglas, (2000), On Market Mavens and Consumer Self Interest (2007), p.76, Psychology and Marketing 2007
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