The Market Maven: A Diffuser of Marketplace Information

TLDR

The study focuses on consumers who possess extensive knowledge of products, shopping venues, and market facets, and who initiate and respond to information exchanges with other shoppers. The authors aim to develop a Likert‑type scale that measures consumers’ propensity to share general shopping and marketplace information. They constructed the scale and tested propositions about market mavens’ attitudes and behaviors, finding no clear socioeconomic or demographic profile. In a national sample of 1,531 households, the scale identified market mavens who are recognized by other consumers, are perceived to influence purchasing decisions, are distinct from other influencers, and whose existence has implications for marketing managers.

Abstract

The research focus is individuals who have information about many kinds of products, places to shop, and other facets of the market, and initiate discussions with and respond to information requests from other consumers. Specifically, the authors develop a Likert-type scale to measure consumers' propensity to provide general shopping and marketplace information. Consumers scoring high on this scale are referred to as "market mavens." Based on a national sample of 1531 households, the findings indicate that market mavens exist and that other consumers recognize them. Consumers believe market mavens are influential in their purchasing decisions. The authors document the distinctness of market mavens from other influencers. They test several propositions about the market attitudes and behaviors of market mavens, but find no clear socioeconomic and demographic profile of these influencers. The results have implications for marketing managers and suggest a reexamination of the approach to information diffusion.