Do technological products offer only functionality and aesthetics? Analyzing the social value of really new products
DOI:
https://doi.org/10.1108/RAUSP-02-2024-0024Keywords:
Social value , Perceived prestige, Product conspicuity, Materialistic motivation, Consumption intentionAbstract
PurposeThis study aims to examine the relationship between the social value of really new products (RNPs), particularly technological ones, and the intention to consume this type of product when the individual’s materialistic motivation moderates this relationship.
Design/methodology/approachTo achieve this objective, this study conducted a quantitative and exploratory study using non-probabilistic data collection with 211 interviewees online. A self-administered questionnaire on a fictional technological RNP (a smartphone) designed with numerous innovative features was used. The partial least squares structural equation modeling (PLS–SEM) technique was used to verify the relationships proposed in the conceptual model.
FindingsThe results show that the social value proposition as a second-order variable, reflecting the construct’s perceived prestige and perceived conspicuity, affects the consumption intention, being enhanced by the moderation of materialistic motivation.
Research limitations/implicationsThe findings enhance the theoretical comprehension of the significance of social value in the context of RNPs, particularly technological ones, and provide evidence that materialistic motivation is a key moderator in the proposed model. As a limitation, this study is characterized as correlational and not generalizable. Furthermore, causal studies (experimental, for example) and longitudinal studies are needed to validate the effects of the constructs proposed in this model and to understand the effects of other possible intervening variables in the conceptual relationships proposed in the model.
Practical implicationsFrom a managerial standpoint, developers of this type of product, marketing managers and advertising agents ought to consider the degree of conspicuity of the product and the prestige features to generate social value, always focusing on the willingness of individuals to acquire products.
Social implicationsThe study examines how RNPs can provide social value, acting as functional tools and as means of social expression. This can encourage the adoption of technologies that bring symbolic and status value to consumers, which reflects a change in consumer behavior, where technology is seen as a symbol of prestige and social differentiation. Furthermore, products with prestige features can contribute to strengthening the social identity of individuals within their social groups.
Originality/valueThe study adds to the existing literature by arguing that RNPs can possess societal significance, challenging the notion that technological products are merely functional and demonstrating that the prestige and conspicuity characteristics of RNPs can boost consumption intention, particularly among individuals with a strong materialistic motivation. The proposed model presents a novel perspective, demonstrating that the social value of products is comprised of the amalgamation of conspicuity and prestige and how these factors influence the adoption of RNPs in the market.
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