Download or read book Transaction Prices and Strategic Consumer Behavior written by Benny Mantin and published by . This book was released on 2016 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The operations literature has increasingly accounted for the presence of strategic consumer behavior. Theory suggests that such a behaviour exposes firms to intertemporal competition and exerts downwards pressure on prices. However, little evidence exists to demonstrate the outcome effect and the magnitude effects of such consumer behavior. This paper fills this gap by providing evidence for the effects of strategic consumer behaviour supported by online decision support tools. Online decision support tools that provide consumers with information about future distributions of prices support strategic consumer behavior. This paper studies whether the availability of such information affects transacted prices. We conduct an empirical analysis in the context of the airline industry, where airfares are associated with frequent changes. We study the effect at the route level and find significant price differences between routes for which airfare prediction information is available, and routes without airfare prediction information. We find that the availability of information about future fare distributions is associated with lower transacted airfares. This effect was consistent across the different fare percentiles and amounted to transactions with prices approximately 3% lower. We further find that while the magnitude of the effect is most profound shortly after route fare prediction information is introduced, the negative effect on transacted airfares persists in the long run. Interestingly, we do not find evidence that low cost carriers are affected by such availability of information, whereas legacy carriers are affected across all fare percentiles. Our results lend support to the notion that price prediction decision tools make a statistically significant economic impact. Presumably, consumers are able to exploit the information available online and behave more strategically.
Download or read book Consumer Behavior and Marketing Strategy written by J. Paul Peter and published by Irwin Professional Publishing. This book was released on 1996 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work shows how the various elements of consumer analysis fit together in an integrated framework, called the Wheel of Consumer Analysis. Psychological, social and behavioural theories are shown as useful for understanding consumers and developing more effective marketing strategies. The aim is to enable students to develop skills in analyzing consumers from a marketing management perspective and in using this knowledge to develop and evaluate marketing strategies. The text identifies three groups of concepts - affect and cognition, behaviour and the environment - and shows how these they influence each other as well as marketing strategy. The focus of the text is managerial, with a distinctive emphasis on strategic issues and problems. Cases and questions are included in each chapter.
Download or read book Consumer Behavior written by Delbert I. Hawkins and published by McGraw-Hill/Irwin. This book was released on 2003-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Behavior, 9/e, by Hawkins, Best, & Coney offers balanced coverage of consumer behavior including the psychological, social, and managerial implications. The new edition features current and exciting examples that are tied into global and technology consumer behavior issues and trends, a solid foundation in marketing strategy, integrated coverage of ethical/social issues and outlines the consumer decision process. This text is known for its ability to link topics back to marketing decision-making and strategic planning which gives students the foundation to understanding consumer behavior which will make them better consumers and better marketers.
Download or read book Priced to Influence Sell Satisfy Lessons from Behavioral Economics for Pricing Success written by Utpal Dholakia and published by Utpal Dholakia. This book was released on 2019-06-23 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing holds the key to business success. The greatest challenge in pricing is the human factor. To price effectively, customer psychology usually trumps rational microeconomic thinking. * How did Subway turn one accidentally discovered price promotion into a multi-billion dollar success story? * How much knowledge of prices do customers really have? * Why do most people spend two months’ salary to buy an engagement ring? * Does Pay What You Want pricing really work? * How can you get your customers to trade up? * Why do Supreme t-shirts sell for $1,500 or more? * Why do so many consumers hate Uber’s surge pricing even though economists love it? In Priced to Influence, Sell & Satisfy, you will find answers to these and many more questions. The book introduces the latest thinking about Psychological Pricing, the science of designing effective pricing strategies using behavioral economics principles. You will learn how customers search for, evaluate, share, and use prices in their buying decisions, how they participate in setting prices, and what managers can do to understand and influence these processes. Psychological pricing actions are levered. Many of them require relatively small investments and produce disproportionately large returns to the business.
Download or read book Dynamic Allocation and Pricing written by Alex Gershkov and published by MIT Press. This book was released on 2024-06-11 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.
Download or read book Consumer Behavior Organizational Strategy and Financial Economics written by Mehmet Huseyin Bilgin and published by Springer. This book was released on 2018-03-30 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents selected articles from the 21st Eurasia Business and Economics Society (EBES) Conference, which was held in Budapest (Hungary) in 2017. The theoretical and empirical papers in this volume cover various areas of business, economics, and finance from a diverse range of regions. In particular, this volume focuses on the latest trends in consumer behavior, new questions in the development of organizational strategy, and the interaction of financial economics with industrial economics and policy.
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 Strategic Pricing with Consumer Behavior Factor written by 汪寧寧 and published by . This book was released on 2017 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hospitality Marketing and Consumer Behavior written by Vinnie Jauhari and published by CRC Press. This book was released on 2017-06-26 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating memories and joyous experiences for consumers is a key dimension affecting the profitability and growth of a hospitality firm. Drawing on global experiences, this new book looks at the diverse factors that create these positive experiences and provides insight into marketing and consumer behavior in the context of hospitality and tourism. The dynamics of emerging economies has been captured, and some lessons have been drawn from best practices across the globe.
Download or read book Consumer Behavior written by Harold W. Berkman and published by Brooks/Cole. This book was released on 1981-01-01 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pricing Online Marketing Behavior and Analytics written by G. Viglia and published by Springer. This book was released on 2014-05-09 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades marketing practices have shifted with the sudden growth of social media and the proliferation of devices, platforms, and applications. This rapidly changing environment presents new opportunities and challenges for marketers, who need to stay up to date with the development of e-marketing. Viglia instructs readers in the theories and practices of online marketing;, detailing the characteristics, consumer behaviors, and differences between platforms, analytics, and pricing strategies of new media. Pricing, Online Marketing Behavior, and Analytics covers many different aspects of how online marketing works and its continuous evolution. Case studies and examples are used throughout the book to outline theories and explain e-marketing characteristics in a practical way.
Download or read book Consumer Behavior in Practice written by Eugene Y. Chan and published by Springer Nature. This book was released on with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Behavior written by Ayalla Ruvio and published by John Wiley & Sons. This book was released on 2023-02-01 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Consumer Behavior Insights, the authors deliver a cutting-edge examination of consumer behavior, combining a thorough introduction to the subject with an overview of common and important consumer behaviors, contemporary social issues impacting consumer behavior including social media, a global mindset of consumer behaviors, and the ethical aspects of consumer behavior. The authors draw on extensive consumer behavior research and teaching experience to offer a streamlined pedagogical framework designed to provide a contemporary and fresh voice in the discipline. Consumer Behavior Insights is ideal for undergraduates, graduate, MBAs, and executives seeking new insights to better understand consumers. In this edition, you'll find: An easy-to-follow introduction to and overview of consumer behavior The consumer buying process A throughgoing focus on global, ethical, and social media issues relevant to consumer behavior Supplementary materials for instructors, including PowerPoint slides and a Test Bank
Download or read book Behavioral Consequences of Dynamic Pricing written by David Prakash and published by BoD – Books on Demand. This book was released on 2022-07-28 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital technologies are driving the application of dynamic pricing. Today, this pricing strategy is used not only for perishable products such as flights or hotel rooms, but for almost any product or service category. With dynamic pricing, retailers frequently adjust their prices over time to respond to factors such as demand, their supply and that of competitors, or the time of sale. Additionally, dynamic pricing allows retailers to take advantage of a large share of consumers' willingness to pay while avoiding losses from unsold products. Ultimately, this can lead to an increase in revenue and profit. However, the application of dynamic pricing comes with great challenges. In addition to the technological implementation, companies have to take into account that dynamic pricing can cause complex and unintended behavioral consequences on the consumer side. The key objective of this dissertation is to provide a deeper understanding of the impact of dynamic pricing on consumer behavior. To this end, this dissertation presents insights from four perspectives. First, how reference prices as a critical component in purchase decisions are operationalized. Second, how customers search for products priced dynamically, differentiated by business and private customers, as well as by different devices used for the search. Third, whether and how dynamic pricing influences the impact of internal reference prices on purchase decisions. Finally, this dissertation demonstrates that consumers perceive price changes as personalized in different purchase contexts, leading to reduced perceptions of fairness and undesirable behavioral consequences.
Download or read book Shopper Marketing written by Daniel J. Flint and published by Pearson Education. This book was released on 2014 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shopper marketing methodology is a powerful, complete approach for satisfying target consumer demand at the point of maximum influence, and thereby driving consumers to purchase. It gives companies a far deeper understanding how consumers behave as shoppers, and leverages this intelligence across the entire supply chain to benefit all stakeholders: companies, brands, consumers, retailers, and shoppers. Shopper marketing requires supply chain partners to smoothly integrate complex sets of marketing and sales tools, in order to engage shoppers, build brand equity, and persuade shoppers when they move into "shopping mode." Internally, it also demands deeper coordination of R and D, marketing innovation, operations, logistics, and distribution. It isn't easy, but it offers remarkable, proven results that are virtually unachievable any other way. In Shopper Marketing , three of the field's pioneering innovators and consultants bring together state-of-the-art insights, strategic approaches, and supply chain execution methods for successfully employing shopper marketing initiatives throughout your organization. Dan Flint, Chris Hoyt and Nancy Swift clearly explain what shopper marketing is, and why it is critical for marketers to master. They review each of its six objectives and eight foundational principles, demonstrating how to adapt and apply it in your environment, overcome obstacles, and systematically create value along your entire "path to purchase." Drawing on their unsurpassed consulting experience, they also assess emerging trends and their implications, helping you deepen customer loyalty, extend competitive advantage, and improve profitability for years to come.
Download or read book The Theory and Practice of Revenue Management written by Kalyan T. Talluri and published by Springer Science & Business Media. This book was released on 2006-02-21 with total page 731 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.
Download or read book Delete This written by LiBook and published by LiBook. This book was released on 2019-07-25 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do you want your sales to grow steadily? Are you looking to know the right price for your product or service? or maybe Do you want to know strategies for big sales? In "Sales Improvement" you will find the necessary instructions so that your business has an exponential increase in your sales, following the price control strategies in a simple way. In this book you will learn: Price summary -Pricing with Regard to Competition -Premium Products Sell at Premium Prices -Increase Sales by Presenting Choices -Rewards for Customers Equal More Cash in your Pocket -Trials & Lead Generation - Etc ... Summary of Value Added -Adding Value Explained -Cut Off Dates -Limited Numbers Done Right -Etc ... And more. The sale price is the value that your product or service will have on the market for the consumer in a common relationship with the exchange of monetary value. With this book you will know how to determine the right price for your sales to grow. You will have the independence you need. Let's start with this!
