Blockchain technology has been designed to improve the transmission of transparent information across a variety of industries and products. Yet, consumers tend to perceive product information provided by blockchain technology (vs. humans) as less credible. As this may not apply to all consumers, it becomes critical for companies to understand how to improve blockchain perceived credibility. This work investigates how individual differences and marketing actions shape consumer responses to product information provided by blockchain technology (vs. humans). Four controlled experiments demonstrate that consumers perceive the information provided by blockchain technology (vs. humans) as having less credibility, which in turn decreases word-of-mouth and intention to share information about the product on social media (Study 1). This effect is stronger for consumers with lower cognition needs (Study 2a), which in turn affects willingness to buy and actual behavior (Study 2b). Providing social proof – i.e., the number of satisfied customers who recommend blockchain technology – increases blockchain perceived credibility (Study 3). These insights deepen the understanding of how individual differences shape consumer responses to product information provided by blockchain technology and offer insights on how to boost technology credibility

Overcoming the blockchain technology credibility gap / Mazzù, Marco Francesco; Pozharliev, Rumen Ivaylov; Andria, Alberto; Baccelloni, Angelo. - In: PSYCHOLOGY & MARKETING. - ISSN 0742-6046. - (2023), pp. 1-17. [10.1002/MAR.21855]

Overcoming the blockchain technology credibility gap

Marco Francesco Mazzù
;
rumen pozharliev;
2023

Abstract

Blockchain technology has been designed to improve the transmission of transparent information across a variety of industries and products. Yet, consumers tend to perceive product information provided by blockchain technology (vs. humans) as less credible. As this may not apply to all consumers, it becomes critical for companies to understand how to improve blockchain perceived credibility. This work investigates how individual differences and marketing actions shape consumer responses to product information provided by blockchain technology (vs. humans). Four controlled experiments demonstrate that consumers perceive the information provided by blockchain technology (vs. humans) as having less credibility, which in turn decreases word-of-mouth and intention to share information about the product on social media (Study 1). This effect is stronger for consumers with lower cognition needs (Study 2a), which in turn affects willingness to buy and actual behavior (Study 2b). Providing social proof – i.e., the number of satisfied customers who recommend blockchain technology – increases blockchain perceived credibility (Study 3). These insights deepen the understanding of how individual differences shape consumer responses to product information provided by blockchain technology and offer insights on how to boost technology credibility
2023
blockchain technology; perceived credibility; social influence; individual differences; need for cognition; purchase intention
Overcoming the blockchain technology credibility gap / Mazzù, Marco Francesco; Pozharliev, Rumen Ivaylov; Andria, Alberto; Baccelloni, Angelo. - In: PSYCHOLOGY & MARKETING. - ISSN 0742-6046. - (2023), pp. 1-17. [10.1002/MAR.21855]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11385/228798
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