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Author : J. A. S. Ferreira
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (472 download)
Download or read book Optimal Price Policy in a Dynamic Model of Consumer Brand Choice written by J. A. S. Ferreira and published by . This book was released on 1984 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : José António Soéiro Ferreira
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (912 download)
Download or read book Research Report written by José António Soéiro Ferreira 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 A Reference Price Based Model of Consumer Brand Choice written by and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Manish Gangwar
Publisher :
ISBN 13 :
Total Pages : 262 pages
Book Rating : 4.:/5 (437 download)
Download or read book Optimal Pricing Strategies Under Consumer Stockpiling and Store Loyalty written by Manish Gangwar and published by . This book was released on 2009 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical examination of the pricing policies of brands in several categories reveals that the pricing distribution is multi-modal with firms offering shallow and deep discounts with varying frequencies. Another interesting feature of these pricing distributions is that the modes are in the interior of the support. However, extant theory on price promotions predicts that the equilibrium pricing density will be bi-modal and the modes will be at the ends of the support of the distribution. In the first chapter, we develop a dynamic game-theoretic model which allows for some price sensitive consumers to stockpile at promotional prices. We examine how such behavior affects firms' pricing strategy in a setting where firms and consumers interact repeatedly over an infinite horizon. In the second paper, we develop a model to analyze firm's optimal promotional strategies in a setting where consumers with strong brand preferences stockpile. In this model some consumers are loyal to each one of the firms and only buy their favorite brand and other consumers switch brands to buy from the lowest priced firm in each period. Recent empirical studies document that while loyal consumers are not price sensitive in brand choice decision they are more price sensitive in quantity decisions. To accommodate this fact, we allow some loyals to stockpile in this model. Surprisingly, we find that consumer stockpiling behavior does not affect firms' profit margins much, when firms use the optimal promotional strategies. In the third chapter, we looked at consumer's store loyalty trait. The literature on store loyalty views a consumer as possessing store loyalty towards a particular store for their overall grocery shopping needs. In this study, we show that store loyalty is a category-specific trait of a consumer. In other words, while a given customer may be loyal to Store A in category 1, the same customer may be loyal to Store B in category 2; we call this 'store-category loyalty'. We estimate household-, category-, and store-specific drivers of 'store-category loyalty' using scanner panel data of 1321 households in 284 grocery categories across 16 stores over a 53-week period.
Author : Kalyan T. Talluri
Publisher : Springer Science & Business Media
ISBN 13 : 0387273913
Total Pages : 731 pages
Book Rating : 4.3/5 (872 download)
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.
Author : David Prakash
Publisher : BoD – Books on Demand
ISBN 13 : 3754359932
Total Pages : 156 pages
Book Rating : 4.7/5 (543 download)
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.
Author : Yangyang Wang
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (133 download)
Download or read book Consumer Learning and a Firm’s Dynamic Pricing Strategy written by Yangyang Wang and published by . This book was released on 2021 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the traditional discrete choice model, we assume that consumers know the product attributes without uncertainty. Learning models extend the discrete choice model by assuming that consumers have incomplete information about product attributes and that they can gradually resolve the uncertainty as they receive more information about the product over time. In the first chapter of this dissertation, I conduct a survey on literature of empirical learning models. I distinguish the learning models into three categories. First, demand side learning models which focuses on the effect of different types of consumer learning on demand. Second, supply side learning models which studies the firm's strategies when it does not have full information of consumer demand. Third, consumer learning and firm's marketing strategies which focuses on the interaction of consumer learning and firm's strategies. Empirical learning models have been proved to be a fruitful area of research activity and consumer learning dynamics have been intensively investigated, but there are two areas for future research --- empirical models that combines consumer learning and firm dynamics and empirical models that feature both consumer learning and firm learning.
Author : Yinhan Meng
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (827 download)
Download or read book Dynamic Pricing Under Demand Uncertainty in the Presence of Strategic Consumers written by Yinhan Meng and published by . This book was released on 2011 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of strategic consumer behavior on pricing, inventory decisions, and inventory release policies of a monopoly retailer selling a single product over two periods facing uncertain demand. We consider the following three-stage two-period dynamic pricing game. In the first stage the retailer sets his inventory level and inventory release policy; in the second stage the retailer faces uncertain demand that consists of both myopic and strategic consumers. The former type of consumers purchase the good if their valuations exceed the posted price, while the latter type of consumers consider future realizations of prices, and hence their future surplus, before deciding when to purchase the good; in the third stage, the retailer releases its remaining inventory according to the release policy chosen in the first stage. Game theory is employed to model strategic decisions in this setting. Each of the strategies available to the players in this setting (the consumers and the retailer) are solved backward to yield the subgame perfect Nash equilibrium, which allows us to derive the equilibrium pricing policies. This work provides three primary contributions to the fields of dynamic pricing and revenue management. First, if, in the third stage, inventory is released to clear the market, then the presence of strategic consumers may be beneficial for the retailer. Second, we find the optimal inventory release strategy when retailers have capacity limitation. Lastly, we numerically demonstrate the retailer's optimal decisions of both inventory level and the inventory release strategy. We find that market clearance mechanism and intermediate supply strategy may emerge as the retailers optimal choice.
Author : Ruxian Wang
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (13 download)
Download or read book When Prospect Theory Meets Consumer Choice Models written by Ruxian Wang and published by . This book was released on 2018 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Problem Definition: Reference prices arise as price expectations against which consumers evaluate products in their purchase scenarios. We investigate what will happen when prospect theory (e.g., reference prices) meets consumer choice models from the perspectives of both the consumers and the firm.Academic/Practical Relevance: Consumers see multiple relevant products on a particular purchase occasion, and often compare their prices to form the willingness to pay when considering whether to purchase a particular product. Reference prices, which are not included in many choice models, may impact consumer choice behavior, so we incorporate reference prices into consumer choice models and investigate the operations management problems.Methodology: We take the widely used multi-nomial logit model as a showcase to examine the effects of reference prices through analytical and empirical study. We consider the optimization problems on assortment planning and pricing under consumer choice models with a variety of reference prices, including the lowest price and the assortment variety.Results: Our empirical study on a real data set demonstrates that incorporating reference prices into choice models can significantly improve goodness-of-fit and prediction accuracy of consumer choice behavior. Furthermore, we characterize the optimal policies for the assortment planning and pricing problems under the consumer choice models with various reference prices. In particular for the pricing problems under the reference prices defined by either the lowest price or assortment variety, we show that the optimal pricing policy has the following structure: products can be grouped into several categories based on their costs; the products in the same category charge either the same profit markup or the same price.Managerial Implications: In practice, reference prices should be taken into account in model estimation and operations management. Ignoring reference prices may lead to substantial losses.
Author : Russell S Winer
Publisher : World Scientific
ISBN 13 : 9814596493
Total Pages : 529 pages
Book Rating : 4.8/5 (145 download)
Download or read book The History Of Marketing Science written by Russell S Winer and published by World Scientific. This book was released on 2014-06-27 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of marketing science has a rich history of modeling marketing phenomena using the disciplines of economics, statistics, operations research, and other related fields. Since it is roughly 50 years from its origins, The History of Marketing Science is a timely review of the accomplishments of marketing scientists in a number of research areas.Different research areas of marketing science, such as Pricing, Internet Marketing, Diffusion Models, and Advertising, are treated to a highly readable and easy-to-digest historical analysis by the contributing authors. Each chapter provides a chronological timeline of key historical developments in the area of marketing science covered. Readers of other disciplinary backgrounds outside of economics, statistics, and operations research will be more than able to appreciate the development of marketing science as a field of research and its pioneers through the book.
Author : Stephan Liozu
Publisher : Routledge
ISBN 13 : 113505181X
Total Pages : 242 pages
Book Rating : 4.1/5 (35 download)
Download or read book The ROI of Pricing written by Stephan Liozu and published by Routledge. This book was released on 2014-01-24 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: As with executives and managers in so many other business functions, pricing specialists are being challenged more and more to substantiate the added value of their activities. Pricing is a core function of every business, and needs not only to contribute positively to short- and long-term results, but also to document its impact to the bottom line. A fundamental part of this is the pricing ROI calculations. This book, edited by globally renowned thought leaders Andreas Hinterhuber and Stephan Liozu, is the first to outline contemporary theories and best practices of documenting pricing ROI. It provides proven methods, practices and theories on how to calculate the impact of pricing activities on performance. Marketing ROI is now a common concept: this collection proves to do the same for pricing. Hinterhuber & Liozu introduce the concept of pricing ROI, documenting and quantifying the return on pricing activities and on the pricing function itself is of increasing relevance today and in the future – in times of budget constraints. 20 world class specialists explore the concept of pricing ROI under both a theoretical perspective and a managerial perspective to shed much-needed light on how to measure and increase pricing ROI. This groundbreaking book will enlighten students and specialists of marketing and sales, pricing managers and executives alike.
Author : Alex Coad
Publisher : Routledge
ISBN 13 : 1000544915
Total Pages : 134 pages
Book Rating : 4.0/5 (5 download)
Download or read book The Dark Side of Innovation written by Alex Coad and published by Routledge. This book was released on 2022-02-24 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a reaction to popular assumptions that innovation is always a force for good. While the popular press and politicians often take the view that "the more innovation, the better", the chapters in this edited volume reflect on the harmful effects of innovation on society and the environment. The book begins with a broad discussion of the dark side of innovation, followed by contributions by various experts in the area. It is a critical reply to the innovation optimists, complementing the list of indicators that show steady human progress with a list of indicators that show sustained deterioration (largely due to innovation). The volume outlines some relevant dimensions of harmful innovation, before distinguishing between the types of harm brought on by innovation. The various contributed chapters focus on the following themes: a bibliometric analysis of the scientific literature on the harmful consequences of innovation; harmful side-effects from solar photovoltaic waste; harmful consequences of process innovations on working practices in areas such as accountancy; the difficulties of transferring innovations from research to practice in clinical healthcare; and the harmful consequences of social innovations. The chapters in this book were originally published as a special issue of the journal Industry and Innovation.
Author : Jacob Jacoby
Publisher : Lexington Books
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.:/5 (321 download)
Download or read book Perceived Quality written by Jacob Jacoby and published by Lexington Books. This book was released on 1985 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Adrian E. Raftery
Publisher : CRC Press
ISBN 13 : 1420035398
Total Pages : 571 pages
Book Rating : 4.4/5 (2 download)
Download or read book Statistics in the 21st Century written by Adrian E. Raftery and published by CRC Press. This book was released on 2001-07-09 with total page 571 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume discusses an important area of statistics and highlights the most important statistical advances. It is divided into four sections: statistics in the life and medical sciences, business and social science, the physical sciences and engineering, and theory and methods of statistics.
Author :
Publisher :
ISBN 13 :
Total Pages : 1586 pages
Book Rating : 4.4/5 (91 download)
Download or read book Journal of the American Statistical Association written by and published by . This book was released on 2000 with total page 1586 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dominique M. Hanssens
Publisher : Springer Science & Business Media
ISBN 13 : 9400910738
Total Pages : 389 pages
Book Rating : 4.4/5 (9 download)
Download or read book Market Response Models: Econometric and Time Series Analysis written by Dominique M. Hanssens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reports over a decade's worth of research on the development of empirical response models that have important uses for generating marketing knowledge and improving marketing decisions. Some of its contributions to marketing are the following: 1. It integrates state-of-the art technical material with discussions of its relevance to management. 2. It provides continuity to a research stream over 20 years old. 3. It illustrates how marketing generalizations are the basis of marketing theory and marketing knowledge. 4. It shows how the research can be applied to marketing planning and forecasting. 5. It presents original research in marketing. The book addresses both marketing researchers and marketing managers. This can be done because empirical decision models are helpful in practice and are also based on theories of response. Econometric and time series analysis (ETS) is one of the few areas in marketing where there is little, if any, conflict between the academic sphere and the world of professional practice. Market Response Models is a sequel to Marketing Models and Econometric Research, published in 1976. It is rare for a research-oriented book in market ing to be updated or to have a sequel. Unlike many other methodologies, ETS research in marketing has stood the test of time. It remains the main method for discovering relations among marketing variables.
Author : Greg M Allenby
Publisher : World Scientific
ISBN 13 : 9814466859
Total Pages : 332 pages
Book Rating : 4.8/5 (144 download)
Download or read book Perspectives On Promotion And Database Marketing: The Collected Works Of Robert C Blattberg written by Greg M Allenby and published by World Scientific. This book was released on 2010-04-21 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative marketing as a discipline started around the mid 60's and has been dominated by only a handful of individuals. Robert Blattberg is one of them and has been a leader in setting a research agenda for this discipline. The collection of articles in this book along with commentary by some of his doctoral students is a magnificent testament to the genius of Robert Blattberg. The chapters in this book are organized into six parts. The first part, titled “Early Bob”, traces research which he completed during the first decade after he joined University of Chicago. The second part is titled “Statistical Bob”. This part comprises papers that Robert wrote in characterizing the response of consumers to dealing. The third part is titled “Promotional Bob”, and covers roughly a ten-year stretch from 1987 to 1996. The fourth part titled “Big Bob”, describes Robert's contribution to and impact on marketing practice. The fifth part is titled “Direct Bob”, and focuses on what customer level data should be gathered, how they should be organized, linked and analyzed, and what metrics should be used to assess customer value. The sixth and final part titled “Micro-Macro Bob”, is not genre or area specific as much as an illustration of Robert's overall research interests in marketing-mix modeling.
