Asia-Pacific Journal of Business (아태비즈니스연구)

KNU The Institute of Management & Economy Research (강원대학교 경영경제연구소)
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How Framing of the Benefits of Eco-friendly Products Alters Consumers' Choices: Non-Monetary Framing vs. Monetary Framing Following Hedonic Editing Hypothesis

친환경 제품 효익 제시 방법에 따른 친환경 제품 선택 비율 차이: 비금전적 제시 vs 쾌락적 편집 가설에 따른 금전적 제시

  • Kim, Junyong (Division of Business, Hanyang University ERICA) ;
  • Jeong, Seonghyeon (Graduate Department of Strategic Management, Hanyang University)
  • 김준용 (한양대학교 ERICA 캠퍼스 경영학부) ;
  • 정성현 (한양대학교 전략경영학과)
  • Received : 2020.11.30
  • Accepted : 2020.12.21
  • Published : 2020.12.30
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Abstract

Purpose - This research aims to investigate how consumers' eco-friendly product choice ratio changes as the benefits of eco-friendly products are framed as (1) non-monetary benefits, (2) monetary gain integrated with the loss or (3) monetary gain segregated from the loss. Design/methodology/approach - A mixed-design, scenario-based choice experiment was conducted. A series of chi-square tests and residual analyses were conducted to analyze the data. Findings - When the monetary gain was larger or slightly smaller than the loss, the participants' eco-friendly product choice ratio was higher when the monetary gain was integrated with the loss than those in the other two conditions. When the monetary gain was significantly smaller than the loss, the participants' eco-friendly product choice ratio was lower when the monetary gain was integrated with the loss than those in the other conditions. The ratio did not differ between the latter two conditions. Research implications or Originality - This research shows that marketers should frame the benefits of eco-friendly products and their costs in different manners depending on the relative magnitudes of them. This research also complements the existing literature by comparing the effectiveness of non-monetary framing of eco-friendly product benefits with that of monetary framing following hedonic editing hypothesis.

Keywords

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