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The Relationship Between Optimal Advertising Level And Product Quality
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Book Synopsis The Relationship Between Optimal Advertising Level and Product Quality by : Zonghui Wang
Download or read book The Relationship Between Optimal Advertising Level and Product Quality written by Zonghui Wang and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In this report the relationship between advertising level and quality is studied where advertising level is a random variable drawn from Normal distribution or Beta distribution. Consumers' prior beliefs are updated according to Bayesian rule after observing the level of advertising as a signal. In the previous literature the consumers ' beliefs were considered to be only binary, in contrast we examine the perfect Bayesian Nash equilibrium of a signaling game where consumers' beliefs are continuous. When the marginal cost of a high-quality firm is equal to that of a low-quality firm we derive a pooling equilibrium under both Normal and Beta distributions wherein the low-quality firm has an incentive to mimic the advertising level of the high-quality firm."--Page ii.
Book Synopsis Empirical Approaches to Consumer Protection Economics by :
Download or read book Empirical Approaches to Consumer Protection Economics written by and published by . This book was released on 1986 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of Some Problems in Advertising and Quality Competition with Special Reference to Consumer Durables Markets by : David Morris
Download or read book An Analysis of Some Problems in Advertising and Quality Competition with Special Reference to Consumer Durables Markets written by David Morris and published by . This book was released on 1975 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis examines advertising behaviour and quality-setting behaviour at the firm level. In both cases economic theory is used to discover theoretically optimal behaviour patterns which may then be compared with the behaviour patterns exhibited by firms operating in the real world. The 'neoclassical' economic model of advertising is reviewed and a general version embodying the 'marketing mix' concept is developed. Possible means of testing for optimal advertising behaviour at the firm level are discussed. The usual method of testing for optimal advertising behaviour was shown to rely on a method which provided no information about the behaviour of firms, the usual test relies on a 'snapshot' comparison of values of the firm's discretionary variables and parameters of the demand function facing the firm. An alternative method of testing is developed the use of a stock-adjustment approach in conjunction VJith an loptimality rule' allows the construction of a test which views firms' behaviour. The test is applied to advertising data for the five major U.K. motor manufacturers during the period 1958-68. The 'quality' problem is analysed at the model or variety level. The problem of defining 'quality' is discussed, and it is suggested that if 'quality' is suitably defined there will be a useful relationship between the prices and 'qualities' of a varieties of a given product. The possible theoretical bases a price-quality relationship (and hence the 'Hedonic' technique) are analysed and shown to indicate different forms for the price-quality relationship. Appropriate methods of estimating the price-quality relationship are suggested. A model of variety demand allowing for quality differences by incorporating the residuals from the estimated price-quality relationship in the demand function is proposed. Price-quality relationships and demand functions are estimated using data for U.K. passenger cars.
Book Synopsis Optimal Pricing and Advertising Strategy for Introducing a New Business Product with Threat of Competitive Entry by : Manak Gupta
Download or read book Optimal Pricing and Advertising Strategy for Introducing a New Business Product with Threat of Competitive Entry written by Manak Gupta and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The problem of optimal joint pricing and advertising decision making for a new product facing potential competitive entry has received inadequate attention. We propose a model that attempts to find the optimal price - advertising frontier in the face of potential competitive entry that maximizes total discounted profits for pre- and post-entry periods. We find that a firm would charge the price that equates price elasticity to marginal revenue product of advertising (as predicted by [Dorfman, R. and Steiner, P.O. (1954), Optimal Advertising and Optimal Quality, American Economic Review, 44(5), 826-836.]) only when the potential effects of pricing and advertising on its market share are not considered. Under optimal conditions, aware that market share is subject to erosion, the firm charges a somewhat lower price than the profit maximizing price, and sets an advertisement expense that is somewhat higher than the profit-maximizing advertising level as predicted by Cournot's monopolistic setting. We illustrate the applicability of our model using business product examples taken from several industries including operating systems, software, pharmaceutical, and telephone switching. Directions for future research with implications for B2B managers (for example, the possible effects of preannouncement to forestall competitive entry) are discussed.
Book Synopsis Market Response Models: Econometric and Time Series Analysis by : Dominique M. Hanssens
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.
Book Synopsis Handbook of Industrial Organization by : Mark Armstrong
Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis. Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies. *Part of the renowned Handbooks in Economics series *Chapters are contributed by some of the leading experts in their fields *A source, reference and teaching supplement for industrial organizations or industrial economists
Book Synopsis An Investigation of the Interaction of Advertising, Pricing and Quality on Sales Response by : Eric Charles Jackson
Download or read book An Investigation of the Interaction of Advertising, Pricing and Quality on Sales Response written by Eric Charles Jackson and published by . This book was released on 2004 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Quality, Grades and Brands (Routledge Revivals) by : Peter Bowbrick
Download or read book The Economics of Quality, Grades and Brands (Routledge Revivals) written by Peter Bowbrick and published by Routledge. This book was released on 2014-08-01 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Virtually every decision to produce, buy or sell is influenced by quality, yet until this book was first published in 1992, there had been very little attempt to produce a comprehensive and practical theory for this. Here, Peter Bowbrick brings together different traditions of quality analysis from economics, marketing economics and marketing itself to identify the limitations of the different traditions of quality economics and some approaches to its analysis. Beginning with a definition of the subject and the concepts involved, this comprehensive title will be of particular value to students of Economics, Marketing and Business Studies.
Book Synopsis Advertising and Market Power by : William S. Comanor
Download or read book Advertising and Market Power written by William S. Comanor and published by Harvard University Press. This book was released on 1974 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current debate over the economics of advertising has long focused on two questions. The first concerns the impact of advertising on the relative positions of large and small firms in an industry and thereby on the state of competition. The second examines the role of advertising on consumer purchasing decisions over broad consumption categories. Comanor and Wilson use the modern tools of economic theory and statistics to build and test their hypotheses, and contribute important analytical and empirical evidence on the key issues. The authors find that consumer decisions are affected substantially by the volume of advertising. Indeed, advertising is a weightier factor than relative prices. Their conclusions surely contribute to the nervousness long felt by economists over the use of consumer preferences to evaluate the welfare implications of resource allocation.
Book Synopsis Market Response Models by : Dominique M. Hanssens
Download or read book Market Response Models written by Dominique M. Hanssens and published by Springer Science & Business Media. This book was released on 2005-12-19 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1976 to the beginning of the millennium—covering the quarter-century life span of this book and its predecessor—something remarkable has happened to market response research: it has become practice. Academics who teach in professional fields, like we do, dream of such things. Imagine the satisfaction of knowing that your work has been incorporated into the decision-making routine of brand managers, that category management relies on techniques you developed, that marketing management believes in something you struggled to establish in their minds. It’s not just us that we are talking about. This pride must be shared by all of the researchers who pioneered the simple concept that the determinants of sales could be found if someone just looked for them. Of course, economists had always studied demand. But the project of extending demand analysis would fall to marketing researchers, now called marketing scientists for good reason, who saw that in reality the marketing mix was more than price; it was advertising, sales force effort, distribution, promotion, and every other decision variable that potentially affected sales. The bibliography of this book supports the notion that the academic research in marketing led the way. The journey was difficult, sometimes halting, but ultimately market response research advanced and then insinuated itself into the fabric of modern management.
Book Synopsis A Dynamic Model on Advertising Level and Product Quality by : Chen Qi
Download or read book A Dynamic Model on Advertising Level and Product Quality written by Chen Qi and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This report studies the relationship between advertising level and product quality where the product is a new non-durable experience good within a signaling game framework. The least cost separating equilibrium of the two period model used in Bagwell (2005) is analyzed without the restriction of advertising being dissipative with repeat business effect. The results are conditionally consistent with Bagwell (2005). Further, advertising level as a signal is assumed to be a random variable drawn from Normal and Beta distributions. Consumers update their prior beliefs about the quality of product by Bayes’ rule after observing the advertising level. We show that pooling equilibria exist with the assumption of identical price and marginal costs for high quality and low quality firms. If asymmetric marginal costs are assumed, then the results are consistent with both Nelson (1974) and Schmalensee (1978)."--Page ii.
Download or read book Antitrust Law Journal written by and published by . This book was released on 1986 with total page 1034 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Technical Bulletin written by and published by . This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Certification Seals. The more, the better, or too much of a good thing? by : Stefanie Eimesser
Download or read book Certification Seals. The more, the better, or too much of a good thing? written by Stefanie Eimesser and published by GRIN Verlag. This book was released on 2015-06-02 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Offline Marketing and Online Marketing, grade: 8.5 (out of 10.0), Erasmus University Rotterdam (Rotterdam School of Management), course: Marketing Management, language: English, abstract: This thesis investigated whether and how consumers’ purchase intention and willingness to pay for food products are affected by the number of certification seals and the level of pretension of a product benefit claim presented on the product packaging. Its objective was to find the ideal number of seals and level of claim pretentiousness where purchase intention and willingness to pay are highest and to give an explanation about consumers’ thought processes that may lead to this outcome. To this end, the role of consumers’ perception of the product quality and the manufacturer conscientiousness has been taken into consideration. With reference to existing literature on product certification as well as concepts originating from human information processing theory and advertising research this study suspected that consumer attitudes and purchase intentions first increase up to a maximum point before decreasing again as the number of certification seals being employed simultaneously rises. The author furthermore hypothesized that consumers react negatively to a more pretentious benefit claim in terms of less favourable product and manufacturer attitudes and lower purchase intentions. The interaction effect of the number of seals and the pretentiousness of a benefit claim on manufacturer conscientiousness perception, product quality perception, purchase intention and willingness to pay was assumed to be likewise of inverted-U nature after the presence of a certification seal has offset the negative effect of a pretentious claim. These hypotheses about the direct impact of the two types of extrinsic product attributes as well as additional hypotheses about the mediating role of product quality perception and manufacturer conscientiousness perception in the relationships between the extrinsic product attributes and consumers’ purchase intentions have been tested by means of a survey-based framed field experiment in a real-world retail environment. A factorial 5 (# of seals: 0,1,2,3,4) x 2 (claim: modest, pretentious) between-subject research design exposed grocery shoppers randomly to one of 10 different experiment conditions consisting of jars of jam of a fictive brand with a different number and combination of the 4 seals ‘BIO', ‘Bioland’, ‘Demeter’ and ‘Naturland’, and the two organic claims “Simply organic” and “More organic does not exist!”. The collected primary data has been analysed by means of multivariate Analysis of Variance and Regression Analysis.
Book Synopsis Proceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference by : Michael Levy
Download or read book Proceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference written by Michael Levy and published by Springer. This book was released on 2015-01-29 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume includes the full proceedings from the 1993 Academy of Marketing Science (AMS) Annual Conference held in Miami Beach, Florida. The research and presentations offered in this volume cover many aspects of marketing science including marketing strategy, consumer behavior, business-to-business marketing, international marketing, retailing, marketing education, among others. Founded in 1971, the Academy of Marketing Science is an international organization dedicated to promoting timely explorations of phenomena related to the science of marketing in theory, research, and practice. Among its services to members and the community at large, the Academy offers conferences, congresses and symposia that attract delegates from around the world. Presentations from these events are published in this Proceedings series, which offers a comprehensive archive of volumes reflecting the evolution of the field. Volumes deliver cutting-edge research and insights, complimenting the Academy’s flagship journals, Journal of the Academy of Marketing Science (JAMS) and AMS Review. Volumes are edited by leading scholars and practitioners across a wide range of subject areas in marketing science.
Book Synopsis Handbook of Marketing by : Barton A Weitz
Download or read book Handbook of Marketing written by Barton A Weitz and published by SAGE. This book was released on 2006-08-11 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'Handbook of Marketing' presents a major retrospective and prospective overview of the field of marketing when many of the traditional boundaries and domains within marketing have been subject to change.
Download or read book Bibliography of Agriculture written by and published by . This book was released on 1971-07 with total page 878 pages. Available in PDF, EPUB and Kindle. Book excerpt:
