Sustainable success in the music industry: Empirical analysis of music preferences
- Authors
- Kim, Jaehwan; Kang, Moon Young
- Issue Date
- 3월-2022
- Publisher
- ELSEVIER SCIENCE INC
- Keywords
- Music preferences; Music industry; Discrete choice; Hierarchical Bayesian; Conjoint analysis; Multi-attribute model
- Citation
- JOURNAL OF BUSINESS RESEARCH, v.142, pp.1068 - 1076
- Indexed
- SSCI
SCOPUS
- Journal Title
- JOURNAL OF BUSINESS RESEARCH
- Volume
- 142
- Start Page
- 1068
- End Page
- 1076
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/139358
- DOI
- 10.1016/j.jbusres.2022.01.021
- ISSN
- 0148-2963
- Abstract
- Sustainability is not just a trend, but an important part of our everyday life including the satisfaction of human needs and preservation of a healthy business environment for present and future generations. The objective of this study is to provide an empirical approach for how to achieve the sustainable success in the music industry. As consumers' utility toward a certain music product can be shifted up or down depending on the elements that constitute the music, we investigate the effect of musical elements on the consumer's choice of music. We quantitatively measure the effects using hierarchical Bayesian logit choice model allowing for the individual heterogeneity. Based on the results, we find that utilizing musical components plays critical roles in under-standing and predicting consumer choice. In addition, our findings suggest how music marketers can come up with a desirable configuration for music products. Sustainability in the music industry can be justified by whether musical components are well aligned, consistent with consumers' preference.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - Korea University Business School > Department of Business Administration > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.