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Demand Pricing And Bundling
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Book Synopsis Optimal Bundling by : Ralph Fuerderer
Download or read book Optimal Bundling written by Ralph Fuerderer and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific knowledge and practical advice are combined in this book. Leading scientists present their latest research results in the area of product and price bundling, with respect to optimization as well as to behavioral bundling approaches. In addition the reader will learn how to implement bundling strategies and how to set up a bundling concept. He will find a thorough explanation of the value that bundling has for improving a company`s profit and sales.
Book Synopsis Intermediate Microeconomics by : Patrick M. Emerson
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:
Book Synopsis Introduction to Business by : Lawrence J. Gitman
Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2024-09-16 with total page 1455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Book Synopsis Demand, Pricing, and Bundling by : Gregory Stuart Crawford
Download or read book Demand, Pricing, and Bundling written by Gregory Stuart Crawford and published by . This book was released on 1999 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bundling Information Goods by : Yannis Bakos
Download or read book Bundling Information Goods written by Yannis Bakos and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze pricing strategies for digital information goods, such as those increasingly available via the Internet. Because perfect copies of such goods can be created and distributed almost costlessly, any single positive price for copies is likely to be socially inefficient. However, we show that, under certain conditions, a monopolist selling information goods in large bundles instead of individually may nearly eliminate this inefficiency. In addition, the bundling strategy can extract as profits an arbitrarily large fraction of the area under the demand curve for the individual goods while commensurately reducing consumers' surplus. The bundling strategy is particularly attractive when the marginal costs of the goods are very low, when the correlation in the demand for different goods is low, and when consumer valuations for the individual goods are of comparable magnitude. We also describe the optimal pricing strategies when these conditions do not hold; show how private incentives for bundling can diverge from social incentives; and describe a mechanism to recover information about the underlying demand for each individual good. The predictions of our analysis appear to be consistent with empirical observations of the markets for Internet and on- line content, cable television programming, and copyrighted music.
Book Synopsis Bundling Telecommunications Services by : Jan Krämer
Download or read book Bundling Telecommunications Services written by Jan Krämer and published by KIT Scientific Publishing. This book was released on 2009 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the advent of digital convergence, incumbent telephone and cable companies have begun to offer their services, such as voice telephony, Internet and TV in so-called triple play packages. While carefully recognizing the technological, legal and economic framework of the fixed-line telecommunications industry, this book investigates whether bundling is indeed a profitable pricing strategy for the firms and if it can possibly facilitate the leverage of market power into neighboring markets.
Book Synopsis Handbook of Pricing Research in Marketing by : Vithala R. Rao
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.
Book Synopsis Fundamentals of Business (black and White) by : Stephen J. Skripak
Download or read book Fundamentals of Business (black and White) written by Stephen J. Skripak and published by . This book was released on 2016-07-29 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.
Book Synopsis The Oxford Handbook of Pricing Management by : Özalp Özer
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.
Book Synopsis Confessions of the Pricing Man by : Hermann Simon
Download or read book Confessions of the Pricing Man written by Hermann Simon and published by Springer. This book was released on 2015-10-20 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as an entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.
Book Synopsis Demand Shaping Through Bundling and Product Configuration by : Jing-Sheng Jeannette Song
Download or read book Demand Shaping Through Bundling and Product Configuration written by Jing-Sheng Jeannette Song and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a dynamic, multi-item model to analyze the optimal joint inventory, pricing, and bundling decisions for a firm over a finite horizon. We develop a novel demand model that transfers the discrete bundling decision and the corresponding pricing decision into a market share decision. We show that the optimal policy is dictated by a no-order set. For items in this set, we do not place replenishment orders, because these items are overstocked. The rest of the policy parameters -- the order-up-to-levels for the items that we do order, the bundling and pricing decisions, and the bundle assembly quantity -- all depend on the overstock levels. Exploring the optimal policy features, we devise a branching algorithm that significantly simplifies the computation of the optimal policy. We also characterize how the optimal bundling decision depends on item complementarity, cost structure, inventory status, demand uncertainty, and supply responsiveness.
Download or read book Pricing Strategies written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-04 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Pricing Strategies When it comes to selling a product or service, a company has a number of different pricing techniques at its disposal. The top executives of a firm must first assess the company's price position, pricing segment, pricing capabilities, and competition pricing reaction strategy before they can choose which pricing strategy will be the most beneficial for the company. Pricing strategies and tactics varies not only from one company to the next, but also from one nation to another, from one culture to another, from one industry to another, and over the course of time, as a result of the maturation of industries and marketplaces as well as wider economic conditions. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Pricing strategies Chapter 2: Monopoly Chapter 3: Price discrimination Chapter 4: Product bundling Chapter 5: Pricing Chapter 6: Product differentiation Chapter 7: Porter's five forces analysis Chapter 8: Price skimming Chapter 9: Cost-plus pricing Chapter 10: Porter's generic strategies Chapter 11: Barriers to entry Chapter 12: Yield management Chapter 13: Non-price competition Chapter 14: Rebate (marketing) Chapter 15: Dynamic pricing Chapter 16: Value-based pricing Chapter 17: Marketing channel Chapter 18: Premium pricing Chapter 19: Pay what you want Chapter 20: Customer cost Chapter 21: Types of e-commerce (II) Answering the public top questions about pricing strategies. (III) Real world examples for the usage of pricing strategies in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Pricing Strategies.
Download or read book Modular Machine Tools written by and published by Springer-Verlag. This book was released on 2013-07-01 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nils Tönshoff presents a new framework of the machine tool building and selling process that accounts for optimized cross-functional decision making in module design, machine tool manufacturing and product marketing.
Book Synopsis Pricing Strategies Insights by : Mansoor Muallim
Download or read book Pricing Strategies Insights written by Mansoor Muallim and published by M M Info Care. This book was released on 101-01-01 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1: Understanding the Importance of Pricing Strategies Jammy: Hello, Canny! I'm thrilled to have this candid conversation with you about pricing strategies. They play a vital role in the success of any business, and I believe it's essential to understand their importance. Canny: Hi, Jammy! I'm equally excited to learn more about pricing strategies. I've always wondered how businesses decide on the prices of their products and services. Jammy: Well, Canny, pricing strategies are more than just putting a number on a product. They can make or break a business. Effective pricing can boost sales, increase profits, and even create a competitive advantage. Canny: That's fascinating! But how do companies determine the right price for their offerings? Jammy: Excellent question, Canny! Companies consider various factors. First and foremost, they analyze their production and operating costs to ensure they cover expenses while making a profit. They also look at the demand for their products and how customers perceive the value. Canny: I see. So, it's not just about covering costs, but also understanding what customers are willing to pay. Jammy: Absolutely! Pricing is a delicate balancing act. If a company prices too high, they may lose customers to competitors. On the other hand, if the price is too low, they might miss out on potential profits. Canny: It sounds like finding the right pricing strategy is crucial. Are there different types of pricing strategies that companies use? Jammy: Yes, indeed! Companies employ various pricing strategies depending on their goals and the market they operate in. Some common ones include cost-plus pricing, market-oriented pricing, and competitive pricing. Canny: What's cost-plus pricing? Jammy: Cost-plus pricing involves adding a markup to the production cost to set the selling price. It ensures that the company covers all expenses and includes a margin for profit. Canny: And market-oriented pricing? Jammy: Market-oriented pricing focuses on aligning prices with customer perceptions. Companies research their target market to understand what customers are willing to pay and set their prices accordingly. Canny: I see how that can be effective. What about competitive pricing? Jammy: Competitive pricing is all about analyzing what competitors are charging for similar products and setting prices accordingly. It allows companies to stay competitive in the market. Canny: These strategies sound interesting! Is there more to pricing than just setting a number? Jammy: Absolutely! Pricing strategies involve in-depth research, analysis, and continuous monitoring. Companies also need to consider psychological factors that influence customer behavior, like pricing perception and the impact of discounts. Canny: It seems like pricing is a complex but essential aspect of running a business. Jammy: You're absolutely right, Canny! The right pricing strategy can lead to increased sales, higher profits, and long-term success. On the other hand, poor pricing decisions can have severe consequences. Canny: Thank you, Jammy! This conversation has been enlightening. I now understand why pricing strategies are so crucial for businesses. Key Takeaways: Pricing strategies are vital for the success of any business, as they can impact sales, profits, and competitive advantage. Effective pricing involves balancing production costs, customer perceptions, and market demand. Different pricing strategies, such as cost-plus pricing, market-oriented pricing, and competitive pricing, serve various business goals. Psychological factors and the impact of discounts also play a role in pricing decisions. Thorough research, analysis, and continuous monitoring are essential in formulating successful pricing strategies.
Download or read book Power Pricing written by Robert J. Doan and published by Simon and Schuster. This book was released on 1996 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one compact volume, here are the innovative tactics business leaders need to attain maximum financial performance for their companies. Whether they're selling beer or land, this book is one book managers can't afford to ignore
Book Synopsis Bundling Under Competition: Duopoly and Oligopoly by : Araz Khodabakhshian
Download or read book Bundling Under Competition: Duopoly and Oligopoly written by Araz Khodabakhshian and published by . This book was released on 2019 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many markets, bundling, or the offering of two or more products in a package for a single price is a common practice. While most markets are competitive, the majority of research work around bundling has focused on monopolistic markets, which are more tractable for analysis. From a monopolist's perspective, bundling has many benefits such as economies of scope, price discrimination, and expansion of demand. However, competition adds an important dimension to bundling decisions and their results. In this dissertation, the aim is to study the implications of competition for firms' product offering, pricing, and bundle design decisions. In the first chapter, we study bundling in a duopoly under price competition and show that bundling can serve as a product differentiation tool and moderate competition even when firms are perfectly identical and offer undifferentiated products. In equilibrium, firms have an asymmetric bundling strategy, i.e., if one firm bundles the other does not. The bundling decision depends on the valuations of customer groups for the two products in the market. However, the firm offering the bundle earns a higher profit. This suggests an inherent first-mover advantage to bundling. There are two factors predicting the success of bundling in a price-competition setting. One is being ahead of the competitor in offering the bundle, and the other is the degree of correlation or its lack in customer valuations of bundle components. In the next chapter, we utilize a quantity competition (Cournot) framework to study the implications of bundling with entry. This model enables the analysis to go beyond duopoly to an oligopolistic market with fixed costs of entry, where firms enter as long as they can recover the fixed cost. We investigate firms' production quantity decisions and profits in equilibrium to determine the number of firms that enter each market. In a two-component setting, we consider examples with two types of offers: a single product, and the product bundled with the other. Then we consider the case of three markets consisting respectively of the first product, the second product, and a matched-quantity bundle of both products. We find that there may not be a unique equilibrium for the number of firms in each market. Moreover, we show that it is possible to construct settings where the number of equilibria can be arbitrarily large. We identify two factors for the success of bundles: one on the demand side and one on the supply side. On the demand side, customers buy bundles as long as both components within the bundle add relatively comparable values to them. On the supply side, firms enter the bundle market if the fixed-cost of entry for the bundle market is lower than the sum of fixed-costs of entry for all components within the bundle by at least a certain amount. We show that these results hold for a single customer group, as well as multiple customer groups. In the last chapter, we study bundle design, which does not seem to be addressed in the literature. We relax the quantity matching assumption common to most bundling research, and allow the firm to choose the ratio of component quantities within the bundle, i.e. \textit{bundle proportion}, so as to maximize profits. We study four market settings: a monopolist with one type of bundle and one customer group, a monopolist with one type of bundle and two customer groups, two bundling firms with the same bundle design and with multiple customer groups, and two bundling firms in competition with potentially different bundling proportions. We conclude that for a monopolist bundler the optimal bundle proportion depends on the satiation consumption levels of the customer. When there is just one customer group in the market, the bundle proportion has a unique global maximum. However, with two customer groups the profit function can have two local maxima and it is possible, though unlikely, to have two optimal bundle proportions. When two bundlers offer potentially independent bundles, in equilibrium, the bundle proportion choices converge. The bundling proportions ratio is a function of the aggregate satiation consumption levels of all customers and is the same for simultaneous as well as sequential entry.
Download or read book The 1% Windfall written by Rafi Mohammed and published by Harper Collins. This book was released on 2010-03-16 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading pricing expert Rafi Mohammed shows businesses how to reap a financial windfall and foster growth using the underutilized and often overlooked strategy of setting prices. The 1% Windfall reveals how modest incremental changes to an everyday business practice—pricing—can yield significant rewards. Illustrating the power of pricing, a study of the Global 1200 found that if companies raised prices by just 1%, their average operating profits would increase by 11%. Using a 1% increase in price, some companies would see even more growth in percentage of profit: Sears, 155%; McKesson, 100%; Tyson, 81%; Land O'Lakes, 58%; and Whirlpool, 35%. The good news is that better pricing is more than simply raising prices. Instead, the key is to offer customers a variety of pricing options. This strategy is win-win: profits to companies and choices for consumers. But how do executives and managers set the right price? Underpinned by sound empirical research and real-life anecdotes, The 1% Windfall addresses this fundamental question. This book offers guidelines that any company—whether a multinational conglomerate, a small business, or even a nonprofit—can follow to create a comprehensive pricing strategy for any product or service. In addition, these versatile techniques and tools provide solutions to avert a slump in a recession, offset the impact of inflation, or battle a new competitor. The result is a mind-opening, clear blueprint for com-panies to price for profit and growth.
