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Product Differentiation And Cost Pass Through
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Book Synopsis Product Differentiation and Cost Pass-Through by : Thomas Bittmann
Download or read book Product Differentiation and Cost Pass-Through written by Thomas Bittmann and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of product differentiation on firm-specific and industry-wide cost pass-through in grocery retailing. We use attribute distance measures to model product differentiation based on a unique set of retail scanner data for ready-to-eat soup products in the Canadian market. Results from a panel error correction model suggest that product differentiation explains a significant share of the variation in the rate of cost pass-through across products. More differentiated products are associated with lower rates of cost pass-through of industry-wide and higher pass-through of firm-specific costs shocks. The findings validate an oligopolistic model of product differentiation, where firms use differentiation as a non-price competitive factor in strategic pricing decisions.
Book Synopsis The Economic Theory of Product Differentiation by : John Beath
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Download or read book Playing to Win written by Alan G. Lafley and published by Harvard Business Press. This book was released on 2013 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how companies must pinpoint business strategies to a few critically important choices, identifying common blunders while outlining simple exercises and questions that can guide day-to-day and long-term decisions.
Book Synopsis Product differentiation, market structure and exchange rate passthrough by : Stephen Martin
Download or read book Product differentiation, market structure and exchange rate passthrough written by Stephen Martin and published by . This book was released on 1993 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Prices, Product Differentiation, and Heterogeneous Search Costs by : José Luis Moraga-González
Download or read book Prices, Product Differentiation, and Heterogeneous Search Costs written by José Luis Moraga-González and published by . This book was released on 2014 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Discrete Choice Theory of Product Differentiation by : Simon P. Anderson
Download or read book Discrete Choice Theory of Product Differentiation written by Simon P. Anderson and published by MIT Press. This book was released on 1992 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.
Book Synopsis Cost Pass Through by : Orville Brown
Download or read book Cost Pass Through written by Orville Brown and published by . This book was released on 2013 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates a model of endogenous innovation which results in product differentiation. Prior to innovation the firms supplied an entirely homogeneous product. Unlike other models of product differentiation, the cost of innovation is passed on to consumers in the form of increased prices. However, some consumers do not immediately recognize the innovation and/or its benefits. Such consumers express an unwillingness to pay for this innovation by purchasing from a firm who does not innovate. A portion of this same fraction of consumers eventually realize the innovation and resume purchases with the innovative firm with an acceptance of the higher price. Under reasonably broad conditions it is shown that both the innovator's and the non-innovator's profits will increase after innovation. Despite the friction created by switching consumers, continued innovation on the part of the first firm to innovate is optimal.
Book Synopsis Product Differentiation and Price Competition Between a Safe and a Risky Seller by : Winand Emons
Download or read book Product Differentiation and Price Competition Between a Safe and a Risky Seller written by Winand Emons and published by . This book was released on 1998 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Non-price Competition by : Norman J. Ireland
Download or read book Product Differentiation and Non-price Competition written by Norman J. Ireland and published by Wiley-Blackwell. This book was released on 1987-01-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price-directed Search, Product Differentiation and Competition by : Martin Obradovits
Download or read book Price-directed Search, Product Differentiation and Competition written by Martin Obradovits and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Especially in many online markets, consumers can readily observe prices, but may need to further inspect products to assess their suitability. We study the effects of product differentiation and search costs on competition and market outcomes in a tractable model of price-directed consumer search. We find that (i) firms' equilibrium pricing always induces efficient search behavior, (ii) for relatively large product differentiation, welfare distortions still occur because some consumers (may) forgo consumption, and (iii) lower search costs lead to stochastically higher prices, increasing firms' expected profits and decreasing their frequency of sales. Consumer surplus often falls when search costs decrease.
Book Synopsis Product Differentiation and Capacity Cost Interaction in Time and Price Sensitive Markets by : Tamer Boyaci
Download or read book Product Differentiation and Capacity Cost Interaction in Time and Price Sensitive Markets written by Tamer Boyaci and published by . This book was released on 2007 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study a profit-maximizing firm selling two substitutable products in a price and time sensitive market. The products differ only in their prices and delivery times. We assume that there are dedicated capacities for each product and that there is a standard industry delivery time for the regular (slower) product. The objective of the firm is to determine the delivery time of the express (faster) product and appropriately price the two products, taking into consideration the impact of delivery time reduction on capacity requirements and costs. We develop a model that integrates pricing and delivery time decisions with capacity requirements and costs, and study scenarios where the firm is constrained in capacity for none, one, or both product(s). We showhowpr oduct differentiation decisions are influenced by capacity costs, and howthe firm should adapt its differentiation strategy in response to a change in its operating dynamics. We first identify a market characteristic that governs the optimal pricing structure. We then showthat the degree of product differentiation depends on both the absolute, as well as the relative values of the capacity costs. Provided that the capacity cost differential remains the same, higher capacity costs induce less time differentiation and less price differentiation. An increase in capacity cost differential increases price differentiation, but decreases time differentiation. The optimal prices depend, in addition to the above, on the market characteristic. We find that prices can actually decrease when the firm incurs capacity-related costs. We also explore the impact of substitutability on product differentiation, and illustrate our results in a numerical study.
Book Synopsis The Economics of Product Differentiation by : Jacques François Thisse
Download or read book The Economics of Product Differentiation written by Jacques François Thisse and published by . This book was released on 1994 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Economics of Vertical Product Differentiation by : Taehoon Youn
Download or read book Essays on Economics of Vertical Product Differentiation written by Taehoon Youn and published by . This book was released on 1999 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Operations Strategy for Price and Time Sensitive Markets by : Sachin Jayaswal
Download or read book Product Differentiation and Operations Strategy for Price and Time Sensitive Markets written by Sachin Jayaswal and published by . This book was released on 2009 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, we study the interplay between a firm's operations strategy, with regard to its capacity management, and its marketing decision of product differentiation. For this, we study a market comprising heterogeneous customers who differ in their preferences for time and price. Time sensitive customers are willing to pay a price premium for a shorter delivery time, while price sensitive customers are willing to accept a longer delivery time in return for a lower price. Firms exploit this heterogeneity in customers' preferences, and offer a menu of products/services that differ only in their guaranteed delivery times and prices. From demand perspective, when customers are allowed to self-select according to their preferences, different products act as substitutes, affecting each other's demand. Customized product for each segment, on the other hand, results in independent demand for each product. On the supply side, a firm may either share the same processing capacity to serve the two market segments, or may dicate capacity for each segment. Our objective is to understand the interaction between product substitution and the firm's operations strategy (dedicated versus shared capacity), and how they shape the optimal product differentiation strategy. To address the above issue, we first study this problem for a single monopolist firm, which offers two versions of the same basic product: (i) regular product at a lower price but with a longer delivery time, and (ii) express product at a higher price but with a shorter delivery time. Demand for each product arrives according to a Poisson process with a rate that depends both on its price and delivery time. In addition, if the products are substitutable, each product's demand is also influenced by the price and delivery time of the other product. Demands within each category are served on a first-come-first-serve basis. However, customers for express product are always given priority over the other category when they are served using shared resources. There is a standard delivery time for the regular product, and the firm's objective is to appropriately price the two products and select the express delivery time so as to maximize its profit rate. The firm simultaneously needs to decide its installed processing capacity so as to meet its promised delivery times with a high degree of reliability. While the problem in a dedicated capacity setting is solved analytically, the same becomes very challenging in a shared capacity setting, especially in the absence of an analytical characterization of the delivery time distribution of regular customers in a priority queue. We develop a solution algorithm, using matrix geometric method in a cutting plane framework, to solve the problem numerically in a shared capacity setting. Our study shows that in a highly capacitated system, if the firm decides to move from a dedicated to a shared capacity setting, it will need to offer more differentiated products, whether the products are substitutable or not. In contrast, when customers are allowed to self-select, such that independent products become substitutable, a more homogeneous pricing scheme results. However, the effect of substitution on optimal delivery time differentiation depends on the firm's capacity strategy and cost, as well as market characteristics. The optimal response to any change in capacity cost also depends on the firm's operations strategy. In a dedicated capacity scenario, the optimal response to an increase in capacity cost is always to offer more homogeneous prices and delivery times. In a shared capacity setting, it is again optimal to quote more homogeneous delivery times, but increase or decrease the price differentiation depending on whether the status-quo capacity cost is high or low, respectively. We demonstrate that the above results are corroborated by real-life practices, and provide a number of managerial implications in terms of dealing with issues like volatile fuel prices. We further extend our study to a competitive setting with two firms, each of which may either share its processing capacities for the two products, or may dedicate capacity for each product. The demand faced by each firm for a given product now also depends on the price and delivery time quoted for the same product by the other firm. We observe that the qualitative results of a monopolistic setting also extend to a competitive setting. Specifically, in a highly capacitated system, the equilibrium prices and delivery times are such that they result in more differentiated products when both the firms use shared capacities as compared to the scenario when both the firms use dedicated capacities. When the competing firms are asymmetric, they exploit their distinctive characteristics to differentiate their products. Further, the effects of these asymmetries also depend on the capacity strategy used by the competing firms. Our numerical results suggest that the firm with expensive capacity always offers more homogeneous delivery times. However, its decision on how to differentiate its prices depends on the capacity setting of the two firms as well as the actual level of their capacity costs. On the other hand, the firm with a larger market base always offers more differentiated prices as well as delivery times, irrespective of the capacity setting of the competing firms.
Book Synopsis Price and Quality by : Jonas Häckner
Download or read book Price and Quality written by Jonas Häckner and published by . This book was released on 1993 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relaxing Price Competition Through Product Differentiation by : J. Shaked
Download or read book Relaxing Price Competition Through Product Differentiation written by J. Shaked and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Retail Trade Concentration with Imperfect Information by : Asher Wolinsky
Download or read book Product Differentiation and Retail Trade Concentration with Imperfect Information written by Asher Wolinsky and published by . This book was released on 1980 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: