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Price Competition Between Store Brands And National Brands
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Book Synopsis Price Competition Between Store Brands and National Brands by : Min-Hsin Huang
Download or read book Price Competition Between Store Brands and National Brands written by Min-Hsin Huang and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Store brands and national brands (Kraft) account for eighty percent of the retail cheese market in the United States. The goal of this study is to estimate brand demand elasticities and reveal factors that determine price elasticities for store and national brands of cheese; more importantly, to provide implications for marketing managers. Data used in this study are store-level scanner data provided by a national supermarket chain in the Columbus, Ohio metropolitan area (CMA). Based on product forms, cheese is classified into five product categories: shredded, sliced, chunk, snack, and miscellaneous. Six stores are included in the data set and these stores are selected from geographic areas that can be described as being populated by higher- and lower-income consumers. A two-stage modeling process is utilized in this study. First, brand demand elasticities are estimated with respect to various store locations, cheese product forms, and package sizes. Second, a meta-analysis is applied to reveal the factors that determine price elasticities of store and national brands. This process involves regressing the estimated price elasticities of store and national brands on the determinants of elasticities: store location, market share, product form, and package size. Both the nonlinear Almost Ideal Demand System (AIDS) and linear approximation AIDS (LA/AIDS) are utilized in the first stage to estimate brand demand elasticities. Given five product categories and two income groups, a total of 20 demand systems are estimated for the two AIDS models. Before estimating the two versions of AIDS model, the unit-root test was initially conducted to confirm stationarity of the time-series variables. This study provides a rich knowledge base for retail store managers and manufacturers to use for maximizing sales and profits. Results from the first stage demand systems indicate that compared with store brands, consumers are very sensitive to national brands price changes for most cheese items even in higher-income areas. The second stage meta-analysis shows that store location, market share, product form, and package size affect price elasticities for store and national brands; moreover, the estimated demand elasticities between AIDS and LA/AIDS models are not significantly different.
Book Synopsis Go Upscale? Quality Competition Between National Brand and Store Brand by : Tulika Chakraborty
Download or read book Go Upscale? Quality Competition Between National Brand and Store Brand written by Tulika Chakraborty and published by . This book was released on 2018 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is commonly assumed in private label literature that store brands are of lower quality than competing national brands. In this paper, we contest this notion by studying quality competition between a national- brand manufacturer and a store-brand retailer. The manufacturer sells its national-brand products through the retailer who produces a competing store brand at the same time. The two parties first invest in their brand qualities, after which the manufacture determines the wholesale price for the national brand and the retailer decides the retail prices for both brands. With a general quality-dependent cost structure, we explicitly characterize the equilibrium in both price and quality levels under various channel power structures. The results suggest that the store brand could possibly be of higher quality than the national brand even in absence of cost disparity; however, the store brand will charge a lower retail price whether its quality is superior to the national brand or not. Further, price competition and quality competition bear opposite implications on equilibrium solutions as well as profitability levels. Surprisingly, the manufacturer may benefit from a more costly production or quality investment scenario, while both the retailer and the supply chain will suffer from the same. The paper highlights the importance of accounting for quality decisions in the study of private label products.
Download or read book Brand Management written by Paolo Popoli and published by BoD – Books on Demand. This book was released on 2017-11-08 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an original, high-quality collection of chapters about highly topical and important brand management issues, and it shows both theoretical and empiric analysis. The 10 selected chapters are referred, with original contents and rigorous research methodologies, to some important challenges the brand management has to face in the current competitive contexts, characterized by the dominance of the intangible resources and the new information and communication technologies. Written by leading academics, this book is dedicated not only to marketing and management scholars but also to students wanting to investigate the knowledge concerning special fields and special brand management themes. As well to the practitioners who can find a wide reference also to the managerial implication from the strategic and operative perspectives.
Book Synopsis Advances in National Brand and Private Label Marketing by : Francisco J. Martinez-Lopez
Download or read book Advances in National Brand and Private Label Marketing written by Francisco J. Martinez-Lopez and published by Springer Nature. This book was released on 2020-05-13 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings volume highlights the latest research presented at the 7th International Conference on Research on National Brand & Private Label Marketing (NB&PL2020, Barcelona, Spain). The topics covered include: retailing, private label portfolio and assortment management, marketing of premium store brands, using national brands to exclude (delist) and include, optimal assortment size, consumer store patronage, etc. Several contributions also focus on private label pricing and promotion, especially on the relative pricing of standard and premium private labels, and with regard to the national brands in the assortment. Further questions addressed here include: Should store brands be promoted? If so, what types of promotion should be used? How can private label penetration, especially premium private labels, best be dealt with? Are dual branding and coupons viable options?
Book Synopsis The Competition Between National Brands and Store Brands by : Raj Sethuraman
Download or read book The Competition Between National Brands and Store Brands written by Raj Sethuraman and published by Now Pub. This book was released on 2013-09 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Competition between National Brands and Store Brands provides a comprehensive review of the literature on economic models of national brand - store brand competition and addresses three relevant questions: 1.What types of economic models have been used to analyze the competition between national brands and store brands? 2. What insights and implications have they generated? 3.What are some useful directions for future research by modelers of national brand - store brand competition? This monograph is an extension of earlier reviews on this topic with some important differences. The authors review 47 studies published between 1966 and 2011, and report over 160 results. More importantly however, the focus is exclusively on the analytical models that give rise to those results. First, The Competition between National Brands and Store Brands presents a framework that is conducive for classifying the extant literature on national brand - store brand competition. Second, the authors compile pertinent articles and available working papers, and classify them using this framework. Third, the volume traces the development of the analytical models starting from the simple model with one national brand manufacturer and one retailer, and progressing to models with multiple manufacturers and retailers. Finally, the authors discuss the insights obtained from them and provide future research directions.
Book Synopsis Three Essays on the Competition Between National Brand and Private Label Food Products by : Eidan Apelbaum
Download or read book Three Essays on the Competition Between National Brand and Private Label Food Products written by Eidan Apelbaum and published by . This book was released on 2000 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Store Brands and Retail Grocery Competition by : Rong Luo
Download or read book Store Brands and Retail Grocery Competition written by Rong Luo and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Grocery retailers rank store brands as the most important factor that differentiates them from their competitors. Retailer competition should have a stronger impact on the more substitutable national brands than the more differentiated store brands. However, the literature has not studied the impacts empirically. In this paper, I quantify the different impacts of retailer competition on national brands and store brands using the scanner data of a U.S. chain retailer. I estimate a structural demand and supply model that incorporates the differentiation effect and retailer competition. The results show that national brand consumers are more likely to switch stores than store brands consumers. By analyzing two counterfactual cases, I find that 1) if the retailer did not sell store brands, its profit would decrease, and the loss would be greater in markets with more competitors; and 2) if the retailer competition had increased, then the national brands' retail prices would decrease more than the store brands' prices.
Book Synopsis Optimizing Store-Brand Choices with Retail Competition and Sourcing Options by : Bo Liao
Download or read book Optimizing Store-Brand Choices with Retail Competition and Sourcing Options written by Bo Liao and published by . This book was released on 2014 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retailers are introducing new store brands at a rapid pace, and annual sales of store brands in the U.S. now exceeds $108 billion. In the literature on store brand decisions, it is commonly assumed that (1) the retailer is a downstream monopolist; (2) either the store brand quality level is fixed, or, the marginal cost of production is constant and independent of the quality level of the store brand; and (3) the retailer either produces the store brand in-house, or sources it from a non-strategic manufacturer. Although these assumptions significantly simplify the analysis, they do not capture what is commonly seen in practice. As a consequence, the insights from these studies may not apply more broadly. Assumption (1) needs to be relaxed in order to study retailers' product assortment decisions (in terms of store and national brands) and related pricing decisions at two competing retailers, along with pricing decisions of a leading national brand manufacturer. Assumption (1) and (2) need to be simultaneously relaxed in order to investigate a retailer's store brand quality-positioning decision when facing competition from another retailer that already carries a store brand. Assumptions (2) and (3) need to be relaxed simultaneously in order to study how a retailer's optimal quality-positioning strategy changes across various sourcing arrangements and various pricing power relationships among retailers and manufacturers. This dissertation contributes to the store brand literature by analyzing models based on more realistic assumptions than those in the literature. This dissertation consists of three stand-alone papers. The first paper (in Chapter 2) investigates a retailer's product assortment and pricing problem when she has the option to carry a store brand, a national brand, or both. I compare her decision when she is a downstream monopolist and when she faces competition from another retailer who may also oer the same national brand and a competing store brand. Specifically, I assume the quality levels of the products are exogenous and analyze a manufacturer-Stackelberg game involving a national brand manufacturer and two competing retailers. The national brand manufacturer sets a wholesale price for the national brand product (the same for both retailers; I assume they are similar in size and can therefore secure the same wholesale price). Then, observing the wholesale price, the retailers engage in a Nash game in which they set the retail prices for the product(s) they choose to carry. Finally, customers decide whether and what to purchase. Customers are heterogeneous in two dimensions: location, which can be interpreted as the degree of loyalty to one retailer or the other, and willingness to pay per unit of quality. Each customer visits the retailer where he can obtain the maximum surplus (willingness to pay less purchasing and transportation costs) among the offered products. After the customer arrives at the selected retailer, the transportation cost is now sunk, so he buys the offered product with the larger difference between his willingness to pay for the product and its price, if it is non-negative. The second paper (in Chapter 3) addresses store brand quality positioning decisions for retailers facing retail competition. Specifically, I assume one of the two retailers (Retailer 2) already carries a store brand product whose quality level is fixed, and both retailers may offer the national brand product with a fixed quality level. The representation of customer preferences and the resultant demands are the same as in the first paper. I model the dynamics via a two-stage game. In the first stage, Retailer 1 decides whether to introduce a store brand product, and if so, its quality level. Then the three parties engage in a manufacturer-Stackelberg pricing game. Finally, customers decide whether and what to purchase. In the first stage, Retailer 1 anticipates the outcome of the second-stage game. I analyzed the second stage game in the first paper; it is a subproblem in the second paper. I also analyze a setting in which both retailers may choose the quality levels of their store brand products simultaneously. The third paper (in Chapter 4) studies a retailer's equilibrium quality-positioning strategy under three sourcing structures, and for each sourcing structure, I consider three types of channel price leadership. Specifically, I study games between (among) a retailer, a national brand manufacturer and a strategic third-party manufacturer, where applicable. The retailer carries a product (with a fixed quality) offered by the national brand manufacturer, and is considering introducing a store brand whose quality can be decided. Customers are heterogeneous in their willingness-to-pay (WTP) per unit of quality. The utility a customer derives from either product equals her WTP per unit of quality times the product quality. Each customer chooses the product that gives her the greatest surplus (utility less price), provided that it is non-negative. The unit production cost of both products is strictly convex and increasing in the quality level of the product. I derive the retailer's equilibrium store-brand quality decision under three sourcing arrangements and three pricing power scenarios. The three sourcing arrangements are in-house (IH), a leading national brand manufacturer (NM) (whose product the retailer also carries), and a strategic third-party manufacturer (SM). The three power scenarios are the ones most commonly seen in the literature: Manufacturer-Stackelberg (MS), Retailer-Stackelberg (RS), and Vertical Nash (VN). In sum, I examine nine (i.e., three times three) combinations of sourcing and pricing power (or game) scenarios, and compare the retailer's optimal quality positioning decision and other equilibrium results (including prices) across the nine scenarios. In all nine combinations of sourcing and pricing power scenarios, the retailer moves rst in setting the quality of her store-brand (during the product development phase) before any pricing decisions are made. I derive subgame perfect equilibria for all scenarios. To the best of my knowledge, I am the first to present a comparison of equilibria for these nine realistic combinations of sourcing and pricing power in this context. This dissertation makes several contributions to the literature on store brand strategies. First, the majority of papers on store brand strategies consider a monopolist retailer. The few papers that consider retail competition are based on restrictive assumptions concerning factors such as product quality (e.g., assuming store brand products have equal quality levels) or product offering (e.g., both retailers must oer the national brand product). My work in papers 1 and 2 takes a first step in presenting a model that is general enough to allow me to study retailers' strategies in a context with store and national brands, and with retail competition. Second, prior research utilizes demand models that are limited in their ability to capture customers' joint selection of a retailer and a product. My work in papers 1 and 2 is based on a model of customer preferences that allows me to incorporate both quality differentiation among the products and the degree of customer loyalty to retailers, both of which are important in my problem context. This model is flexible enough to support a fairly rich representation of demands. Third, in paper 3, I take a first step in studying the interaction between store-brand sourcing and positioning decisions, and the interplay of these decisions with the retailer's pricing power. From a comparison of the retailer's equilibrium store brand quality levels for the nine combinations of sourcing and game structure, I obtain a full characterization of the ordering of store-brand quality, retailer's prot, retail prices and consumer welfare across the nine combinations. To the best of my knowledge, I am the first to present a comparison of equilibria for these nine realistic combinations of sourcing and pricing power in the store brand context. I also show that sourcing of store brands plays a key role in the competitive interaction between a retailer and a national brand manufacturer. Whereas the marketing and economics literatures have emphasized the role of store brands in helping retailers elicit price concessions from national brand manufacturers, I find that having a preferable sourcing arrangement for a store brand product is more valuable than having pricing power.
Book Synopsis The Relationship Between National Brand and Private Label Food Products: Prices, Promotions, Recessions, and Recoveries by : United States Department of Agriculture
Download or read book The Relationship Between National Brand and Private Label Food Products: Prices, Promotions, Recessions, and Recoveries written by United States Department of Agriculture and published by CreateSpace. This book was released on 2015-07-20 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, private label food products have grown steadily in sales and often directly compete for market share with national brands. This competition lowers prices and increases product choices for consumers. This report analyzes the relationship between private label and national brand product prices and in-store promotions for two major U.S. grocery store chains during the 2007-2009 recession and the year following the recession (2010). Retailers promote private label products (offer price discounts) strategically in response to national brand pricing promotions to protect private label market share during national brand promotions. However, the extent of the retailer response varies widely across supermarket departments and is also affected by both the density of food stores and the market share of supercenters within a market area. These findings hold true regardless of the state of the economy, although the magnitude of the interaction between national brands and private labels differs in times of recession and recovery.
Book Synopsis The relationship between national brand and private label food products by : Richard Volpe
Download or read book The relationship between national brand and private label food products written by Richard Volpe and published by . This book was released on 2011 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Private Label Strategy by : Nirmalya Kumar
Download or read book Private Label Strategy written by Nirmalya Kumar and published by Harvard Business Press. This book was released on 2007 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth in private labels has huge implications for managers on both sides.
Book Synopsis Advances in Theory and Practice in Store Brand Operations by : Jiazhen Huo
Download or read book Advances in Theory and Practice in Store Brand Operations written by Jiazhen Huo and published by Springer Nature. This book was released on 2021-01-04 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is developed by focusing on the four issues: (1) product strategy of private brand; (2) pricing strategy of private brand; (3) channel strategy with private brand introduction; and (4) supply chain coordination with private brand introduction. Private brand (PB), also known as private label (PL) or store brand (SB), refers to a brand created and controlled by a retailer. In the 1960s and 1970s, private labels began to emerge in France and England. Although private label has grown rapidly worldwide, market share varies greatly from region to region. According to Nielsen's 2018 Global Private Label Report, the largest markets for private-label products are found primarily in the more mature European retail markets. In recent years, many large domestic retail enterprises have launched their own brand products. With the growth of e-commerce, some online retailers have also launched private-label goods. JD started to introduce its private brands in 2010, with annual sales of its private brand products reaching several hundred million yuan. However, at present, the market share of China's private label is only 1-3%, which still has a big gap compared with Europe and America.The main challenges to China's private label lie in private brand operations management. Among them, how to select the correct product categories, how to make pricing decision, how to restructure channels and how to coordinate supply chain after introducing private brands are four operations management problems need to be solved.
Book Synopsis What Makes Consumers Pay More for National Brands Than for Store Brands - Image Or Quality? by : Raj Sethuraman
Download or read book What Makes Consumers Pay More for National Brands Than for Store Brands - Image Or Quality? written by Raj Sethuraman and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private labels or store brands have become a major force to reckon with in grocery products.They account for over one-fifth of total volume sales in the United States and are growing faster than national brands. Generally, prices of national brands are higher than store brand prices. Therefore, a consumer would purchase the national brand (store brand) if the premium s/he is willing to pay for the national brand over the store brand is more (less) than the actual price differential between the two brands. Thus our understanding of why some consumers purchase national brands and others purchase store brands would be enhanced by gaining insights into why consumers are willing to pay a price premium for national brands over store brands. In this study, I attempt to understand why consumers are willing to pay a higher price for national brands than for store brands in grocery products. Is it because of perceived quality differential or non-quality utility? Non-quality utility is defined as the price premium that consumers would pay for a national brand over a store brand even when they perceive the quality of the two brands to be the same. The utility arises from positive brand image, brand associations, or brand equity. The study draws upon a general utility framework and develops an econometric model for separating the total price premium that consumers are willing to pay into three components -perceived quality differential, quality sensitivity, and non-quality utility. The econometric model is estimated using a survey that collected information on what consumers reported that they are willing to pay for national brands vs. store brands. The data set consists of 2237 observations from 132 consumers on 20 grocery products. The key qualitative insight is that perceived quality differential and non-quality utility or brand image dominate in different stages of the purchase process. Perceived quality differential or acceptable store brand quality is the primary driving force in a consumer's decision to participate in or consider store brand purchase. However, when it comes to deciding how much more to pay for national brands over store brands, brand image or brand equity is the dominant factor. In fact, consumers will pay a reasonable premium for national brands even if they perceive the national brand and store brand to have the same quality. This finding represents good news for national brand managers because it allows them to command a reasonable price premium even when retailers close the quality gap. National brand managers should maintain and increase their brand's equity through frequent and effective advertising and other equity-enhancing strategies. Retailers should recognize the importance of national brand equity and set their price differential appropriately. Just because retailers have closed the quality gap does not mean that they can close the price gap and maintain a low price differential. They should also not set the price differential too high and charge a low price for store brands since low prices may create negative brand associations for the store brand. The paper also discusses several other finding and their implications for segmentation and promotion strategies for both manufacturers and retailers.
Book Synopsis Brands, Competition Law and IP by : Deven R. Desai
Download or read book Brands, Competition Law and IP written by Deven R. Desai and published by Cambridge University Press. This book was released on 2015-07-20 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces the emerging field of brand law and explores its interaction with the economics of modern branding.
Book Synopsis Competition Between Private Labels and National Brands in a Multichannel Retailer by : Marta Arce-Urriza
Download or read book Competition Between Private Labels and National Brands in a Multichannel Retailer written by Marta Arce-Urriza and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter analyzes private label and national brand competition across online and offline channels. We analyze competition using three measures: market share, a loyalty index, and what is called in the literature conquesting power (a measure of the ability of a brand to capture nonloyal consumers). We first provide a brief theoretical introduction and literature research about the topic. We also do an empirical analysis using data of a multichannel grocery retailer that sells both its own private label and national brands, through physical stores and an online store. The data include the purchases made by a sample of multichannel consumers. We find that the private label increases, in general, its competitive position in the online channel, compared to the offline channel. However, this result does not hold for all the product categories. We discuss some drivers of this general improvement, as well as potential causes for the differences between categories. We conclude with some recommendations for multichannel retailers and manufacturers.
Book Synopsis Private Label Strategy by : Nirmalya Kumar
Download or read book Private Label Strategy written by Nirmalya Kumar and published by Harvard Business Review Press. This book was released on 2007-02-13 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: As retailers have become more powerful and global, they have increasingly focused on their own brands at the expense of manufacturer brands. Rather than simply selling on price, retailers have transformed private labels into brands. Consequently, manufacturers such as Johnson & Johnson, Nestle, and Procter & Gamble now compete with their largest customers: major retail chains like Carrefour, CVS, Tesco, and Wal-Mart. The growth in private labels has huge implications for managers on both sides. Yet, brand manufacturers still cling to their outdated assumptions about private labels. In Private Label Strategy: How to Meet the Store Brand Challenge, Nirmalya Kumar and Jan-Benedict E.M. Steenkamp describe the new strategies for private labels that retailers are using, and challenge brand manufacturers to develop an effective response. Most important, they lay out actionable strategies for competing against - or collaborating with - private label purveyors. Packed with detailed international case studies, valuable visuals, and hands-on tools, Private Label Strategy enables managers to navigate profitably in this radically altered landscape.
Book Synopsis National Brands and Private Labels in Retailing by : Juan Carlos Gázquez-Abad
Download or read book National Brands and Private Labels in Retailing written by Juan Carlos Gázquez-Abad and published by Springer. This book was released on 2014-06-10 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents latest findings on brand marketing in retail. In times of economic downturn a "new retailing landscape" is being shaped, in which retailers and manufacturers face new challenges to their brand strategies. Marketing professionals need high value-added and timely responses. Among the topics targeted in this volume are: mix of national brands and private labels in retailers' assortments; assortment decisions in times of economic crisis and eventual recovery; consequences of delisting brands on store-related aspects; delisting manufacturers' brands and the effects on the distribution channel relationship; the new "retailing landscape", with special focus on fast moving consumer goods retailing; consumer preferences for national brands and private labels and many more.
