The value of distinctiveness: Product uniqueness in crypto marketing

Berghueser, Sophie M. und Spann, Martin (2024): The value of distinctiveness: Product uniqueness in crypto marketing. In: International Journal of Research in Marketing [Forthcoming]

Abstract

Marketers across industries appeal to consumers’ need for uniqueness in their marketing and product strategies. While there is an understanding of the many benefits of such a strategy and its underlying mechanisms, the effects are often linked to product scarcity, leaving a product’s distinctiveness compared to similar products unexplored. In this study, we examine the effect of product attribute distinctiveness using transaction data of a large non-fungible token (NFT) collection. Despite identical initial launch prices for all products in the collection, secondary sale prices vary substantially. Using a selection model, our results show that a unique product is less likely to be resold. We also find a positive relationship between attribute distinctiveness and transaction value. This indicates the importance of such product information to consumers. The implications of our empirical study add to the literature on uniqueness, NFTs, and crypto marketing.

• Dokumententyp: Zeitschriftenartikel
• Keywords: Uniqueness; Distinctiveness; Non-fungible token (NFT); Crypto marketing; Secondary markets; Product attributes
• Fakultät: Betriebswirtschaft > Institut für Electronic Commerce und Digitale Märkte
• Themengebiete: 300 Sozialwissenschaften > 330 Wirtschaft
• ISSN: 0167-8116
• Sprache: Englisch