| Scope and method of study. Promotional campaigns often include a time parameter in which payments or receipts are delayed or advanced: (1) "If you have to wait for your lunch more than 10 minutes, the meal is free;" (2) "Buy now, no payment until next year;" (3) "In a hurry? Receive delivery in just 3 days for an extra {dollar}6.95 per item;'' and (4)~``Save an additional 10% with immediate payment.'' The dissertation examines postponed/expedited receipts/payments in a promotional context by posing three research questions. First, are there individual differences in time horizon relative to the valuing of receipts and payments? Second, in a promotional setting, how does the postponing/expediting of receipts and payments at varying temporal distances from consumer decisions influence the valuation of these decision outcomes? Finally, do individual differences (i.e., locus of control, impulsivity, age, and income) impact these valuations? The dissertation uses the Time and Outcome Valuation Model (Mowen and Mowen 1991) to make predictions concerning how the delaying or expediting of payments or receipts influences consumer valuations of promotional offers. To address the aforementioned questions, the dissertation consists of two studies.; Findings and conclusions. Study I develops a consumer time horizon scale that demonstrates evidence of having two factors, one related to payments and the other related to receipts. Study II examines valuations of postponed/expedited payments/receipts in a promotional context as well as the moderating influence of individual differences on valuations. The results indicate that consumers expect more compensation for a delayed receipt than incentive for early payment and that they expect more compensation for a delayed receipt than they are willing to pay in interest to delay payment. Consumers expect more incentive for advancing payments than they are willing to pay to advance receipts. In the non-student population, results indicate that consumers who just take whatever is on the shelf (i.e., they cannot wait to receive) have higher valuations than consumers who can wait. Also, lower income individuals have higher valuations than higher income consumers. Individuals with higher valuations have discounted the future to a greater extent and are not as concerned with future consequences. |
