Signaling Quality With A Money Back Guarantee

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Signaling Quality with a Money-Back Guarantee

Author : Sridhar Moorthy
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Signaling Quality with a Money-Back Guarantee by : Sridhar Moorthy

Download or read book Signaling Quality with a Money-Back Guarantee written by Sridhar Moorthy and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Direct marketing is witnessing explosive growth. As consumers increasingly purchase products from their homes, their ability to judge the quality of products they buy is significantly reduced. In this paper we study how money-back guarantees can signal product quality in such environments. We interpret product quality broadly to mean both the level of attributes promised as well as the firm s consistency in delivering on those promises. A key aspect of our formulation is the explicit consideration of transaction costs and alternative signals of product quality. Transaction costs are the costs the seller or buyer faces when redeeming a money-back guarantee. We show that money- back guarantees cannot work as a signal of quality without seller transaction costs. However, if these costs are very large, then there are less costly ways to signal, namely by charging a high price. We compare the signaling performance of (1) price, (2) price with uninformative advertising (+money-burning ), and (3) price with a money-back guarantee. Whereas uninformative advertising does not work at all in our model, under certain conditions a money-back guarantee is necessary to signal, and under other conditions, a money-back guarantee is a useful supplement to price.

Price and "money Back Guarantees" as Signals of Product Quality

Author : Shiou Shieh
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Price and "money Back Guarantees" as Signals of Product Quality by : Shiou Shieh

Download or read book Price and "money Back Guarantees" as Signals of Product Quality written by Shiou Shieh and published by . This book was released on 1994 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of a Money-back Guarantee in Retailing

Author : Yanhong Jin
Publisher :
ISBN 13 :
Total Pages : 270 pages
Book Rating : 4.:/5 (34 download)

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Book Synopsis The Economics of a Money-back Guarantee in Retailing by : Yanhong Jin

Download or read book The Economics of a Money-back Guarantee in Retailing written by Yanhong Jin and published by . This book was released on 2004 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Warranty and Price as Quality Signals

Author : Sultan Alaswad Alenazi
Publisher :
ISBN 13 :
Total Pages : 110 pages
Book Rating : 4.:/5 (77 download)

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Book Synopsis Warranty and Price as Quality Signals by : Sultan Alaswad Alenazi

Download or read book Warranty and Price as Quality Signals written by Sultan Alaswad Alenazi and published by . This book was released on 2011 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of the Economics of Marketing

Author :
Publisher : North Holland
ISBN 13 : 0444637591
Total Pages : 632 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of the Economics of Marketing by :

Download or read book Handbook of the Economics of Marketing written by and published by North Holland. This book was released on 2019-09-15 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Marketing, Volume One: Marketing and Economics mixes empirical work in industrial organization with quantitative marketing tools, presenting tactics that help researchers tackle problems with a balance of intuition and skepticism. It offers critical perspectives on theoretical work within economics, delivering a comprehensive, critical, up-to-date, and accessible review of the field that has always been missing. This literature summary of research at the intersection of economics and marketing is written by, and for, economists, and the book's authors share a belief in analytical and integrated approaches to marketing, emphasizing data-driven, result-oriented, pragmatic strategies. Helps academic and non-academic economists understand recent, rapid changes in the economics of marketing Designed for economists already convinced of the benefits of applying economics tools to marketing Written for those who wish to become quickly acquainted with the integration of marketing and economics

The Routledge Companion to Strategic Marketing

Author : Bodo B. Schlegelmilch
Publisher : Routledge
ISBN 13 : 1351038656
Total Pages : 507 pages
Book Rating : 4.3/5 (51 download)

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Book Synopsis The Routledge Companion to Strategic Marketing by : Bodo B. Schlegelmilch

Download or read book The Routledge Companion to Strategic Marketing written by Bodo B. Schlegelmilch and published by Routledge. This book was released on 2020-11-24 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Companion to Strategic Marketing offers the latest insights into marketing strategy. Bodo Schlegelmilch and Russ Winer present 29 specially commissioned chapters, which include up-to-date thinking on a diverse range of marketing strategy topics. Readers benefit from the latest strategic insights of leading experts from universities around the world. Contributing authors are from, among others, the U.S. (Berkeley, Cornell, MIT, New York University, Texas A&M), Europe (the Hanken School of Economics, INSEAD, the University of Oxford, the University of Groningen, WU Vienna) and Asia (the Indian School of Business, Tongji University). The topics addressed include economic foundations of marketing strategy, competition in digital marketing strategy (e.g. mobile payment systems and social media strategy), marketing strategy, and corporate social responsibility, as well as perspectives on capturing the impact of marketing strategy. Collectively, this authoritative guide is an accessible tool for researchers, students, and practitioners.

The Joint Effects of Brands and Warranties in Signaling New Product Quality

Author : Lydia J. Price
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 ( download)

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Book Synopsis The Joint Effects of Brands and Warranties in Signaling New Product Quality by : Lydia J. Price

Download or read book The Joint Effects of Brands and Warranties in Signaling New Product Quality written by Lydia J. Price and published by . This book was released on 1995 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Warranties as Signals of Product Quality when Some Do Not Seek Redress

Author : Edward L. Golding
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (914 download)

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Book Synopsis Warranties as Signals of Product Quality when Some Do Not Seek Redress by : Edward L. Golding

Download or read book Warranties as Signals of Product Quality when Some Do Not Seek Redress written by Edward L. Golding and published by . This book was released on 1982 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Journal of ecnomics and business

Author :
Publisher :
ISBN 13 :
Total Pages : 564 pages
Book Rating : 4./5 ( download)

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Book Synopsis Journal of ecnomics and business by :

Download or read book Journal of ecnomics and business written by and published by . This book was released on 1998 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Strategies and Games, second edition

Author : Prajit K. Dutta
Publisher : MIT Press
ISBN 13 : 0262368501
Total Pages : 713 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Strategies and Games, second edition by : Prajit K. Dutta

Download or read book Strategies and Games, second edition written by Prajit K. Dutta and published by MIT Press. This book was released on 2022-08-09 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of a widely used introduction to game theory and its applications, with a focus on economics, business, and politics. This widely used introduction to game theory is rigorous but accessible, unique in its balance between the theoretical and the practical, with examples and applications following almost every theory-driven chapter. In recent years, game theory has become an important methodological tool for all fields of social sciences, biology and computer science. This second edition of Strategies and Games not only takes into account new game theoretical concepts and applications such as bargaining and matching, it also provides an array of chapters on game theory applied to the political arena. New examples, case studies, and applications relevant to a wide range of behavioral disciplines are now included. The authors map out alternate pathways through the book for instructors in economics, business, and political science. The book contains four parts: strategic form games, extensive form games, asymmetric information games, and cooperative games and matching. Theoretical topics include dominance solutions, Nash equilibrium, Condorcet paradox, backward induction, subgame perfection, repeated and dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, signaling, the Shapley value, and stable matchings. Applications and case studies include OPEC, voting, poison pills, Treasury auctions, trade agreements, pork-barrel spending, climate change, bargaining and audience costs, markets for lemons, and school choice. Each chapter includes concept checks and tallies end-of-chapter problems. An appendix offers a thorough discussion of single-agent decision theory, which underpins game theory.

Economics of Strategy

Author : David Dranove
Publisher : John Wiley & Sons
ISBN 13 : 1119042313
Total Pages : 544 pages
Book Rating : 4.1/5 (19 download)

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Book Synopsis Economics of Strategy by : David Dranove

Download or read book Economics of Strategy written by David Dranove and published by John Wiley & Sons. This book was released on 2017-07-17 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text is an unbound, three hole punched version. Access to WileyPLUS sold separately. Economics of Strategy, Binder Ready Version focuses on the key economic concepts students must master in order to develop a sound business strategy. Ideal for undergraduate managerial economics and business strategy courses, Economics of Strategy offers a careful yet accessible translation of advanced economic concepts to practical problems facing business managers. Armed with general principles, today's students--tomorrows future managers--will be prepared to adjust their firms business strategies to the demands of the ever-changing environment.

Management Science

Author :
Publisher :
ISBN 13 :
Total Pages : 616 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Management Science by :

Download or read book Management Science written by and published by . This book was released on 2001-09 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.

The SAGE Encyclopedia of Corporate Reputation

Author : Craig E. Carroll
Publisher : SAGE Publications
ISBN 13 : 1483376508
Total Pages : 1049 pages
Book Rating : 4.4/5 (833 download)

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Book Synopsis The SAGE Encyclopedia of Corporate Reputation by : Craig E. Carroll

Download or read book The SAGE Encyclopedia of Corporate Reputation written by Craig E. Carroll and published by SAGE Publications. This book was released on 2016-05-31 with total page 1049 pages. Available in PDF, EPUB and Kindle. Book excerpt: What creates corporate reputations and how should organizations respond? Corporate reputation is a growing research field in disciplines as diverse as communication, management, marketing, industrial and organizational psychology, and sociology. As a formal area of academic study, it is relatively young with roots in the 1980s and the emergence of specialized reputation rankings for industries, products/services, and performance dimensions and for regions. Such rankings resulted in competition between organizations and the alignment of organizational activities to qualify and improve standings in the rankings. In addition, today’s changing stakeholder expectations, the growth of advocacy, demand for more disclosures and greater transparency, and globalized, mediatized environments create new challenges, pitfalls, and opportunities for organizations. Successfully engaging, dealing with, and working through reputational challenges requires an understanding of options and tools for organizational decision-making and stakeholder engagement. For the first time, the vast and important field of corporate reputation is explored in the format of an encyclopedic reference. The SAGE Encyclopedia of Corporate Reputation comprehensively overviews concepts and techniques for identifying, building, measuring, monitoring, evaluating, maintaining, valuing, living up to and/or changing corporate reputations. Key features include: 300 signed entries are organized in A-to-Z fashion in 2 volumes available in a choice of electronic or print formats Entries conclude with Cross-References and Further Readings to guide students to in-depth resources. Although organized A-to-Z, a thematic “Reader’s Guide” in the front matter groups related entries by broad areas A Chronology provides historical perspective on the development of corporate reputation as a discrete field of study. A Resource Guide in the back matter lists classic books, key journals, associations, websites, and selected degree programs of relevance to corporate reputation. A General Bibliography will be accompanied by visual maps noting the relationships between the various disciplines touching upon corporate reputation studies. The work concludes with a comprehensive Index, which—in the electronic version—combines with the Reader’s Guide and Cross-References to provide thorough search-and-browse capabilities

Marketing Management

Author : Philip Kotler
Publisher :
ISBN 13 :
Total Pages : 798 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis Marketing Management by : Philip Kotler

Download or read book Marketing Management written by Philip Kotler and published by . This book was released on 2000 with total page 798 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Platform Refund Insurance Or Being Cast Out

Author : Jinyang Zheng
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Platform Refund Insurance Or Being Cast Out by : Jinyang Zheng

Download or read book Platform Refund Insurance Or Being Cast Out written by Jinyang Zheng and published by . This book was released on 2020 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Online service marketplace consumers face more quality uncertainty due to the intangibility, variability, and unreturnable nature of the services sought, which potentially leads to the “lemons” problem (Akerlof 1970). To alleviate this problem, the platform employs refund options as quality indicators that are either endorsed by the platform or individual sellers. Our work draws from signaling theory to develop the signaling mechanism of platform refund insurance and seller-guaranteed refunds, as well as builds a demand estimation model that uses aggregate data to examine such signaling effects. The model is developed to accommodate heterogeneous risk preferences, the endogeneity of the sellers enrolling in refund options, and the competitive nature of the marketplace. We further leverage the model to conduct a policy analysis that investigates the effectiveness of the platform by using a “platform refund insurance or being cast out” policy (i.e. retaining platform refund insured sellers but expelling uninsured ones) to filter out “low-type” sellers and, thus, to improve the platform's overall performance. Our findings show that both types of refund options increase demand, with platform refund insurance being the more effective option. This suggests a more effective signaling mechanism of platform refund insurance as a third-party assurance and, thereby, justifies the platform's use of platform refund insurance to filter out sellers during the period of policy change. Our reduced-form analysis further suggests sellers with a better reputation or fewer scales might benefit less from refund options. Our policy analysis, on one hand, shows improved quality of sellers on the platform due to the changes of sellers (i.e. expelled sellers leaving and newcomer sellers entering). On the other hand, our analysis reveals that the platform incurs a cost as a result of the characteristic changes (e.g. price) of sellers. The cost harms platform demand and consumer welfare, but to a limited degree and is offset by the improved quality of the sellers. The consumer welfare of the online service marketplace, along with the marginal effect and externalities of reducing a seller are further calculated. The study provides comprehensive analyses and practical insights for stakeholders in the service online marketplace, including sellers, consumers, and platform operators.

A Quality-signaling Rationale for Aftermarket Tying

Author : Marius Schwartz
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis A Quality-signaling Rationale for Aftermarket Tying by : Marius Schwartz

Download or read book A Quality-signaling Rationale for Aftermarket Tying written by Marius Schwartz and published by . This book was released on 1995 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Comparing Quality Signals

Author : Juergen Noll
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Comparing Quality Signals by : Juergen Noll

Download or read book Comparing Quality Signals written by Juergen Noll and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms use different instruments to convey product quality in order to counteract market failures due to lack of information on behalf of consumers. We will give a brief overview on the two main types of quality signals. Then an economic model is developed to determine which offers higher incentives to provide incentives for higher production quality. The results are applied to the present legislation on warranty law and on misleading advertisement.