Download or read book Reverse Pricing and Online Price Elicitation Strategies in Consumer Choice written by Alexander Chernev and published by . This book was released on 2006 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research examines consumers' willingness to pay in an online environment. Specifically, I compare two price-elicitation strategies: price generation (i.e., quot;name your pricequot;) and price selection i.e., quot;select your pricequot;). Contrary to the common assumption that naming a price will be preferred by consumers because it offers the most flexibility in articulating one's willingness to pay, this research demonstrates that consumers often prefer to select rather than to generate a price. In a series of three experiments, I show that the potential unfavorable effects of the price generation task are associated with the absence of a readily available reference price range. I further demonstrate that the reference price range also has to be externally provided and that internally generated reference prices can as well eliminate the potential negative effect of the price generationtask and strengthen consumer preferences. These findings support the proposition advanced in this research that a pre-choice articulation of reference prices can simplify consumer choice by imposing a structure consistent with the nature of the decision task.
Download or read book Handbook of Pricing Research in Marketing written by Vithala R. Rao and published by Edward Elgar Publishing. This book was released on 2009 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing is an essential aspect of the marketing mix for brands and products. Further, pricing research in marketing is interdisciplinary, utilizing economic and psychological concepts with special emphasis on measurement and estimation. This unique Handbook provides current knowledge of pricing in a single, authoritative volume and brings together new cutting-edge research by established marketing scholars on a range of topics in the area. The environment in which pricing decisions and transactions are implemented has changed dramatically, mainly due to the advent of the Internet and the practices of advance selling and yield management. Over the years, marketing scholars have incorporated developments in game theory and microeconomics, behavioral decision theory, psychological and social dimensions and newer market mechanisms of auctions in their contributions to pricing research. These chapters, specifically written for this Handbook, cover these various developments and concepts as applied to tackling pricing problems. Academics and doctoral students in marketing and applied economics, as well as pricing-focused business practitioners and consultants, will appreciate the state-of-the-art research herein.
Download or read book Pricing written by Gábor REKETTYE and published by Transnational Press London. This book was released on 2018-05-23 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing: The New Frontier by Gábor REKETTYE and Jonathan LIU Published: May 2018 The importance of pricing and price management is growing all over the world, primarily due to the turbulent economic situation, accelerating technological development, the saturation of markets and the globalization of competition. All these trends affect the achievement of company objectives, place prices, pricing and price management in a context that differs greatly from what has been known before. In developing and fast moving economies like India, getting the pricing strategy right is a necessity for the short and long term future of the firm. The pricing decision will impact on the profitability and ultimately on the performance of the firm. Executives and managers responsible making pricing decisions will find this book useful and informative in shedding light on an area that is complicate and complex. – Dr M.K. Nandakumar, Associate Professor of Strategic Management, Indian Institute of Management, Kozhikode, India. Leading technological development across the world requires an in-depth understanding of the impact of the pricing decision and business strategy. This book will give its readers a clear understanding of impact of the pricing decision on the industry, the customer and its competitors. I fully recommend and endorse this book. – Jeff C.K. Lim, BU Deputy CEO at ASM Pacific Technology Ltd. Singapore. Pricing of goods and services is a critical decision that creates immediate competitive advantage. This book explains the principles of pricing clearly and concisely. It seamlessly knits concept and practice. It is a useful text book but also useful to practicing managers charged with challenging task of pricing goods and services. I strongly recommend the book to practitioners and students. – Professor Abby Ghobadian FBAM, FAcSS, CCMI, Professor of Management, Henley Business School, United Kingdom. At a time when almost continuous change is disrupting nearly all industries and the internet is putting ever more power in the hands of the customer, a book that treats pricing with substance and foresight is a welcome addition to the market. – Professor John R. Schermerhorn, Jr., O’Bleness Professor Emeritus, Ohio University, United States In contemporary business pricing is much more than just the money equivalent of the product value. This book provides a high-quality review of different concepts and issues regarding pricing from different stakeholders’ perspectives. It can be recommended both as students’ textbook as well as a managers’ toolkit for making strategic and tactical pricing decisions. – Professor Mirna Leko Šimić, Professor of Marketing at Faculty of Economics at J.J. Strossmayer University of Osijek, Croatia Price is the value that is attached to a product or service and is usually the result of complex set of calculations, research and risk analysis. This book provides comprehensive and understandable strategies and tactics that one may use to price a product or service in our current the multi-faceted operating environment. It is a great resource for both practitioners and academics. – Dr Dolores Rinke, CPA, Professor Emerita, Purdue University, United States In a fast-changing world with fierce competition, pricing has been increasingly the new frontier and battle field for business operations. Dynamic pricing needs to be deployed as the brand new strategy for global organizations to gain competitive advantages and sustainable profit growth. This book provides insightful knowledge of the dynamics of setting price in a networked global context, and enables academics and professionals to have a clear understanding of the principle and practice. – Dr Xinping Shi, Associate Professor of Information and Operations Management, Hong Kong Baptist University, Hong Kong SAR China. Getting the pricing of products and services right is challenging and difficult. It is more complicated in a globalized world and further challenging when it is across different types of economies. This book will offer guidance in setting and negotiating prices for trading across borders and on the digital platform, and will prove useful for practitioners and students. I highly recommend the book. – Professor Vincent XG Qi, PhD, FRAI, Wolfson College, University of Cambridge; Marcel Mauss Chair Distinguished Professor of Global Supply Chain Management and Business Anthropology, Anshan Normal University in China. Contents PART 1. PRICING BASICS Chapter 1. PRICING IN FOCUS Chapter 2. THE ECONOMICS OF PRICING Chapter 3. CUSTOMERS’ PRICE PERCEPTION Chapter 4. PRICES, COSTS AND PROFIT Chapter 5. METHODS OF PRICE SETTING PART 2. STRATEGIES AND TACTICS OF PRICING Chapter 6. PRICING STRATEGY Chapter 7. PRODUCT LIFE CYCLE PRICING Chapter 8. DYNAMIC PRICING Chapter 9. PRODUCT LINES PRICING Chapter 10. PRICE BUNDLING PART 3. INTERMEDIARY PRICING Chapter 11. PRICING ACROSS THE MARKETING CHANNELS Chapter 12. RETAIL AND WHOLESALE PRICING Chapter 13. PRICING IN INTERNATIONAL MARKETS Chapter 14. SUCCESSFUL PRICE NEGOTIATIONS Bibliography Index Product Details: ISBN: 9781910781944 Publisher: Transnational Press London Published: 23 May 2018 Language: English Pages: 320 Interior Ink: Black & white Weight (approx.): 0.65 kg Dimensions (approx.): 18.9cm wide x 24.59cm tall
Download or read book Estimation of Willingness to Pay written by Christoph Breidert and published by Springer Science & Business Media. This book was released on 2007-11-03 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate willingness-to-pay. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. The customers indicate whether they would actually purchase the presented product profiles.
Download or read book Coordination and Agent Technology in Value Networks written by Martin Bichler and published by GITO mbH Verlag. This book was released on 2004 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: New approaches and technologies are required to coordinate the interdependent interests of economic entities. Distributed decision making and self-organization become increasingly important where hierarchical planning reaches its limits. Therefore, innovative solutions have to face those challenges allowing especially for coordination and information processing between distributed entities. In particular market-based coordination mechanisms provide this opportunity; they can be efficiently combined with powerful technologies like software agents to build the flexible coordination infrastructures for today's and tomorrow's electronic business. Science and industry will have to collaborate. Not only to identify the challenges of the prospering information society and to bring them onto our research agendas. Consequently, the book at hand is targeted towards scientists and practitioners likewise.
Download or read book Handbook of Consumer Psychology written by Curtis P. Haugtvedt and published by Psychology Press. This book was released on 2018-12-07 with total page 1892 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook contains a unique collection of chapters written by the world's leading researchers in the dynamic field of consumer psychology. Although these researchers are housed in different academic departments (ie. marketing, psychology, advertising, communications) all have the common goal of attaining a better scientific understanding of cognitive, affective, and behavioral responses to products and services, the marketing of these products and services, and societal and ethical concerns associated with marketing processes. Consumer psychology is a discipline at the interface of marketing, advertising and psychology. The research in this area focuses on fundamental psychological processes as well as on issues associated with the use of theoretical principles in applied contexts. The Handbook presents state-of-the-art research as well as providing a place for authors to put forward suggestions for future research and practice. The Handbook is most appropriate for graduate level courses in marketing, psychology, communications, consumer behavior and advertising.
Download or read book Precision Pricing written by Klaus Matthias Miller and published by BoD – Books on Demand. This book was released on 2009 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Setting the 'right' price is one of the key management tasks that drive a firm's performance. Even small price variations can have a major impact on sales and profitability. Therefore, it is important for managers to know consumers' willingness to pay as precisely as possible in order to harvest their product's profit potential as much as possible. This book will help you get your price right!" Professor Dr. Dr. Z. John Zhang The Wharton School, University of Pennsylvania, USA.
Download or read book Handbook of Business to Business Marketing written by Lilien, Gary L. and published by Edward Elgar Publishing. This book was released on 2022-07-15 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: This path-breaking Handbook is targeted primarily at marketing academics and graduate students who want a comprehensive overview of the academic state of the business-to-business marketing domain. It will also prove an invaluable resource for forward-thinking business-to-business practitioners who want to be aware of the current state of knowledge in their domains.
Download or read book e Business and Telecommunications written by Mohammad S. Obaidat and published by Springer. This book was released on 2011-03-07 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 6th International Joint Conference on e-Business and Telecommunications, ICETE 2009, held in Milan, Italy, in July 2009. The 34 revised full papers presented together with 4 invited papers in this volume were carefully reviewed and selected from 300 submissions. They have passed two rounds of selection and improvement. The papers are organized in topical sections on e-business; security and cryptography; signal processing and multimedia applications; wireless information networks and systems.
Download or read book Encyclopedia of Information Science and Technology Second Edition written by Khosrow-Pour, Mehdi and published by IGI Global. This book was released on 2008-10-31 with total page 5266 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This set of books represents a detailed compendium of authoritative, research-based entries that define the contemporary state of knowledge on technology"--Provided by publisher.
Download or read book Journal of Marketing written by and published by . This book was released on 2006 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Apr. issues for 1940-42 include Papers and proceedings of the semi-annual [Dec.] meeting of the American Marketing Association, 1939-41.
Download or read book Reverse Pricing and Revenue Sharing in a Vertical Market written by Qihong Liu and published by . This book was released on 2013 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advancing in information technology has empowered firms with unprecedented flexibility when interacting with each other. We compare welfare results in a vertical market (e.g., manufacturers and retailers) across several types of pricing strategies depending upon (1) which side (retailers or manufacturers) chooses retail prices and (2) whether there is revenue sharing or linear pricing between the two sides. Our results are as follows. Under revenue sharing, retail prices (and thus industry profits) are higher if and only if they are chosen by the side featuring less competition. Under linear pricing, however, retail prices are higher if they are chosen by the side featuring more competition (for linear demand functions). Relative to linear pricing, revenue sharing always leads to lower retail prices, higher consumer surplus and social surplus. However, the comparison on industry profits depends on the demand elasticity ratios. Revenue sharing raises industry profits when the elasticity ratios are small, but the results are reversed when the elasticity ratios are large.
Download or read book Peste des Petits Ruminants PPR Generating Evidence to Support Eradication Efforts written by Francois Louis Roger and published by Frontiers Media SA. This book was released on 2021-03-04 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Pricing and Targeting on Consumer Choice written by Ran Zhang and published by . This book was released on 2017 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms offer products or services through different strategies. How to optimally price and bundle products is one of the most fundamental questions facing firms when consumers in the market are heterogeneous in their valuations for products. The pricing and bundling problems become more complicated when competition exists or the product is offered through different platforms. Chapter 1 of my dissertation focuses on the quality-differentiated firms' bundling strategy for their core and add-on products. Motivated by firms' distinct bundling practices, I build an analytical model to explain the firms' optimal strategy. I find the critical role of competition and cost-to-quality ratio in driving the asymmetric firm's bundling and pricing strategy. When there is more competition from the inferior firm, the superior firm has stronger incentive to bundle its add-on, even when the add-on product is costly.Further in this direction, to study the firm's pricing and bundling strategy when the product is offered through different mediums, chapter 2 of my dissertation focuses on the content publisher's optimal strategy when the content can be offered in digital, physical, or a bundle of mediums. I develop an analytical model and find that offering digital medium only or offering bundle and digital medium can be optimal under different market conditions. Surprisingly, I find consumer surplus and social welfare may decrease as the proportion of digital-savvy consumers increases.To further study the complementarity and substitutability of platforms, chapter 3 of my dissertation studies how firms should run their targeted advertising on different online platforms, i.e. social media and traditional platform. Specifically, I measure the effectiveness of targeted advertising on social media, relative to that on a traditional platform, on consumers' ultimate conversions. I measure the interaction effects of the two platforms by using case-control design and post-regularized choice models. I find that targeting across platforms is positively associated with the ultimate conversion for the lower funnel, but there is no measurable synergistic effect for the upper funnel consumers.
Download or read book Competition Based Dynamic Pricing in Online Retailing written by Marshall Fisher and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A retailer following a competition-based dynamic pricing strategy tracks competitors' price changes and then must answer the following questions: (1) Should we respond? (2) If so, respond to whom? (3) How much of a response? (4) And on which products? The answers require unbiased measures of price elasticity as well as accurate estimates of competitor significance and the extent to which consumers compare prices across retailers. There are two key challenges to quantify these factors empirically: first, the endogeneity associated with almost any type of observational data, where prices are correlated with demand shocks observable to pricing managers but not to researchers, and second, the absence of competitor sales information, which prevents efficient estimation of a full consumer-choice model. We address the first issue by conducting a field experiment with randomized prices. We resolve the second issue by exploiting the retailer's own and competitors' stockouts as a source of variation to the consumer choice set, in addition to variations in competitors' prices. We estimate an empirical model capturing consumer choices among substitutable products from multiple retailers. Based on the estimates, we propose and test a best-response pricing strategy through a carefully controlled live experiment that lasts five weeks. The experiment documents an 11 percent revenue increase while maintaining a margin above a retailer-specified target.
Download or read book Reverse Pricing written by Martin Oliver Spann and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Product Assortment and Consumer Choice written by Alexander Chernev and published by Now Pub. This book was released on 2012 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product Assortment and Consumer Choice: An Interdisciplinary Review examines existing literature and builds on the current theoretical developments across different research domains to develop a set of research propositions delineating the impact of product assortment on consumer choice. Taking a consumer's perspective to examine how product assortment influences decision making and choice, this monograph defines the consumer aspect of assortment research to answer three key questions. First, how do consumers perceive the variety of items in an assortment? The first part of this review examines factors that influence consumer perceptions of the variety of an assortment. In particular, it investigates how factors such as assortment size, the degree of distinctiveness of assortment options, the dispersion of option frequencies, and the organization of the assortment influence consumer perceptions of assortment variety. Second, how do consumers choose an item from a given assortment? The second part discusses factors that influence consumer choice of an item from a given assortment. It examines the impact of assortment size on the purchase likelihood from a given assortment, the number of options purchased, and the particular options chosen from the assortment. Third, how do consumers choose among assortments? The third part examines factors that influence consumer choice among assortments. In particular, it investigates how assortment size, assortment structure, and purchase quantity influence consumers' choice of an assortment. Conceptual analysis of the existing research in each of these three areas is summarized in a series of research propositions that integrate current findings and offer directions for future research. Product Assortment and Consumer Choice: An Interdisciplinary Review concludes with a discussion of the theoretical contributions and managerial implications of existing product assortment research and identify venues for further investigation.
