Cooling Off and Backing Out: Understanding Consumer Decisions to Rescind a Product Purchase
Author(s)
Sparks, Beverley A
Bradley, Graham L
Jennings, Gayle R
Johnston, Nicole R
Year published
2014
Metadata
Show full item recordAbstract
Consumers sometimes have the right to exit a sales contract during what is known as a cooling-off period. Sales process research generally does not address cases when consumers withdraw from sales contracts during this period. Since securing product sales involves substantialmarketing and sales costs, a need exists to better understand not only consumer rescission decisions and their legal context but also the managerial implications of the cooling-off period. This exploratory qualitative study examines purchase rescinding and develops a conceptual model using timeshare as the context. Results suggest that rescission relates ...
View more >Consumers sometimes have the right to exit a sales contract during what is known as a cooling-off period. Sales process research generally does not address cases when consumers withdraw from sales contracts during this period. Since securing product sales involves substantialmarketing and sales costs, a need exists to better understand not only consumer rescission decisions and their legal context but also the managerial implications of the cooling-off period. This exploratory qualitative study examines purchase rescinding and develops a conceptual model using timeshare as the context. Results suggest that rescission relates to a mismatch between product features and personal circumstances, post-purchase concerns about product value, reassessment of financial capability, reflections on sales presentations, and cautionary influences of reference groups.
View less >
View more >Consumers sometimes have the right to exit a sales contract during what is known as a cooling-off period. Sales process research generally does not address cases when consumers withdraw from sales contracts during this period. Since securing product sales involves substantialmarketing and sales costs, a need exists to better understand not only consumer rescission decisions and their legal context but also the managerial implications of the cooling-off period. This exploratory qualitative study examines purchase rescinding and develops a conceptual model using timeshare as the context. Results suggest that rescission relates to a mismatch between product features and personal circumstances, post-purchase concerns about product value, reassessment of financial capability, reflections on sales presentations, and cautionary influences of reference groups.
View less >
Journal Title
Journal of Business Research
Volume
67
Issue
1
Subject
Marketing
Tourism marketing