Download or read book Price Floors and Quality Choice written by Volodymyr Bilotkach and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies effects of price floors in a simple model of vertical product differentiation. We find that even non-binding price floors can increase quality on the market, if the cost of quality is sufficiently low. Where a binding price floor does not change the equilibrium quality, it makes consumers worse off. There is also a possibility of over-investment into quality as a result of the binding minimum price.
Download or read book Price Quality and Trust written by Mari Sako and published by Cambridge University Press. This book was released on 1992-10-08 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The management of buyer-supplier relations has come to be regarded as a key to achieving manufacturing competitiveness, particularly in sectors facing global competition based on both price and quality. This book is a theoretical and empirical exploration of the link between the type of buyer-supplier relations and corporate performance. Dr Sako examines how British and Japanese companies in the electronics industry manage their relationships with buyers and suppliers, the empirical study comprising a three-way comparison of a Japanese customer company, a British customer company, and a Japanese company in Britain, and an analysis of 36 supplier companies in Britain and Japan. Variations of the companies' business practices are assessed in terms of technology, the nature of market competition, the national legal framework, financial structures, employment systems, and the mode of entrepreneurship. The author identifies two distinct approaches in the two countries - the arm's-length contractual relation (ACR) in Britain, and the obligational contractual relation (OCR) in Japan - and argues that the trust and interdependence present in the latter can be a powerful springboard from which to achieve corporate success.
Download or read book The Paradox of Choice written by Barry Schwartz and published by Harper Collins. This book was released on 2009-10-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.
Download or read book Optimal Pricing and Quality Choice when Investment in Quality is Irreversible written by Enrico Pennings and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Game Changer written by Jean-Manuel Izaret and published by John Wiley & Sons. This book was released on 2023-10-17 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The right pricing strategy can change the entire trajectory of a business, a market, and even society at large. To help you create your best pricing strategy efficiently and confidently, two leaders from BCG are introducing fresh perspectives on pricing that take you far beyond the realm of mind-numbing numbers. In their new book Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society, Jean-Manuel Izaret and Arnab Sinha simplify and clarify pricing strategy by integrating its many frameworks and concepts into seven distinct pricing games, each with its own proven tools, rules, forces, and structures. To help you pick the right game and play it well, Izaret and Sinha have developed the Strategic Pricing Hexagon, a tool refined through years of testing, iteration, and adaptation. The Hexagon is your portal to a business world where stronger growth and better financial performance come from a set of strategic pricing decisions, not endless myopic quests for optimal prices. But more than that, the Hexagon will change the way you think about and talk about pricing. The current conversation around pricing – as expressed through economics textbooks, Excel spreadsheets, political discourse, and educated guesswork – makes it easy to believe that pricing is nothing more than a technical, tactical and, for most people, boring game of numbers. Game Changer changes that conversation bysharing stories and research that bring the Hexagon and its seven pricing games to life. With research from BCG’s Bruce Henderson Institute and real-world examples from the world's most influential companies, the authors and their colleagues at BCG define pricing strategy as a business leader’s or business owner’s conscious decisions about how money flows in their market. They show how companies succeed in the long term when they focus on collaborative growth and value sharing with customers, not zero-sum value extraction from them. Discover how you can create and implement a winning pricing strategy that changes the trajectory of your business, your market, and even society.
Download or read book Dual Role of Price in Consumer Choice written by Sungjee Choi and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers commonly compare prices as well as consider quality when they are in the grocery store to save their budget and to keep a minimum level of quality. However, consumers cannot gauge every single product's quality, and it is often shown people utilize price as a product quality indicator. The goal of the study is to reassess the price sensitivity theory which is consumers have lower price sensitivity for higher priced product. Also, this research examines price's dual roles in consumers' decision-making processes: 1) as a constraint and 2) as a quality cue. Consumers use price as a quality cue to alleviate uncertainty in their decision-making process. Several literatures in the marketing science area found asymmetric brand switching behavior and price tiers among brands using consumer panel data. Two arguments throughout the previous studies are 1) there is a positive correlation between price and quality, and 2) there is a negative correlation between price and price sensitivity. Following the previous literature, the utility model from the economics traditional logit model is developed by having additional parameter which is price and quality association. By adding price and quality association parameter, this study proposes a new developed model which captures the effects of price role as a quality cue on consumers' utility. The developed logit model is estimated via Hierarchical Bayesian framework.The results provide partial support for the prediction that higher priced products have lower price sensitivity. Overall, however, the findings of this paper argue that consumers react more to high priced products' price change than to low priced products' price change. This is because we have two distinct consumer groups and only small portion of consumers follow the price sensitivity theory. Consumers who have a large P-Q association are not as price sensitive as consumers having a small P-Q association. As a result, the overall level of price sensitivity dictates whether or not a P-Q association is observed. The implications of this finding and directions for future research are also discussed at the end of the paper.
Download or read book Brand choice under price quality considerations written by F W A. Bliemel and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Experiment to Examine the Relationship Between Price and Perceived Quality written by George Chu and published by . This book was released on 1972 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cincinnati Price current written by and published by . This book was released on 1895 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Quality and Location Choices Under Price Regulation written by Kurt Richard Brekke and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a model of spatial competition, we analyze the equilibrium outcomes in markets where the product price is exogenous. Using an extended version of the Hotelling model, we assume that firms choose their locations and the quality of the product they supply. We derive the optimal price set by a welfarist regulator. If the regulator can commit to a price prior to the choice of locations, the optimal (second-best) price causes overinvestment in quality and an insufficient degree of horizontal differentiation (compared with the first-best solution) if the transportation cost of consumers is sufficiently high. Under partial commitment, where the regulator is not able to commit prior to location choices, the optimal price induces first-best quality, but horizontal differentiation is inefficiently high.
Download or read book Understanding Customers written by Alexander Chernev and published by Cerebellum Press. This book was released on with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding customer decisions and behavior is the starting point for identifying market opportunities and formulating a company’s marketing strategy. Without understanding the needs customers aim to fulfill, the ways in which they evaluate the available alternatives that can fulfill these needs, and the decision processes they use to choose among these alternatives, a company is unlikely to succeed in developing an offering that will be embraced by its target customers. Understanding the customer decision journey and the key factors that drive customer behavior is the focus of this note. The discussion of understanding the customer is complemented by an in-depth overview of three additional topics: Maslow’s theory of human needs, the process of joint decision making, and decision heuristics and biases. This note is an excerpt (Chapter 4) from Strategic Marketing Management: Theory and Practice by Alexander Chernev (Cerebellum Press, 2019).
Download or read book The Role of Price as a Signal of Product Quality in Monopolistic Markets written by Scott Davis and published by . This book was released on 1989 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes Special Application to Information Technology Products written by Triplett Jack and published by OECD Publishing. This book was released on 2006-09-21 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price indexes can be constructed using a “hedonic method” that adjusts for changes in the quality of a product. This handbook sets out best practice for constructing hedonic indexes.
Download or read book Price Quality and Choice written by Northern Territory. Inquiry into food prices in the Northern Territory and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Embarrassment of Product Choices 1 written by Michel Millot and published by John Wiley & Sons. This book was released on 2018-10-09 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: When there are too many choices, there is no choice. The choices are entangled in a maze of rather confused possibilities. They go through many nebulous paths. Doubt, hesitation, indecision, become the only resolutions possible. Choosing is the anxiety of being wrong! The brand, the quality / price ratio, the aesthetics ... give confidence, but often with naivety! There is a gap between the reality of the qualities of the products and the perception of the customer. These are prejudices, illusions, a lack of knowledge ... Generally speaking, is the consumer-client able to appreciate, by sight, by touch, or even by a brief trial of operation, all the strengths and weaknesses? a lot of products? Market value dominates the use value. Marketing will discover that we must no longer confuse the consumer (the customer) and the user. The economic system only works because consumers are in the opacity of their choices. The search for technical prowess and above all market value has dominated the search for value in use.
Download or read book Strategic Management written by Paul W. Dobson and published by John Wiley & Sons. This book was released on 2009-02-04 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly popular introduction to strategic management has nowbeen revised to take account of the latest developments in thefield. New edition of a highly popular introduction to strategicmanagement. Provides a clear framework for understanding the issues incorporate strategy, supported by current case examples. Revised to take account of the latest development in thefield. Now features twelve new cases. Includes new chapters on issues relating to the resource-basedview of the firm, innovation, learning, and the ‘neweconomy’. Includes a new concluding chapter looking at present and futureissues in strategic management. Continues to combine the latest management concepts with andemphasis on current business applications and implementation.
