摘要 :
Recent managerial evidence and academic research has suggested that consumer decisions are influenced not only by the prices of individual items but also by a retailer's price image, which reflects a consumer's impression of the o...
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Recent managerial evidence and academic research has suggested that consumer decisions are influenced not only by the prices of individual items but also by a retailer's price image, which reflects a consumer's impression of the overall price level of a retailer. Despite the increasing importance of price image in marketing theory and practice, existing research has not provided a clear picture of how price images are formed and how they influence consumer behavior. This article addresses this discrepancy by offering a comprehensive framework delineating the key drivers of price image formation and their consequences for consumer behavior. Contrary to conventional wisdom that assumes price image is mainly a function of a retailer's average price level, this research identifies several price-related and nonprice factors that contribute to price image formation. The authors further identify conditions in which these factors can overcome the impact of the average level of prices, resulting in a low price image despite the retailer's relatively high prices, as well as conditions in which people perceive a retailer to have a high price image despite its relatively low average price level.
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We examine a food retailer's incentive to use a minimum quality standard as part of a quality-based price-discrimination strategy and show how price discrimination can result in a substantial level of retail food waste. Using data...
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We examine a food retailer's incentive to use a minimum quality standard as part of a quality-based price-discrimination strategy and show how price discrimination can result in a substantial level of retail food waste. Using data from a major US food retailer, we estimate a structural model of retail price discrimination and conduct a series of counter-factual experiments to demonstrate that observed retail prices are consistent with quality-based price discrimination in the retail market. Our findings indicate that quality standards on fresh produce can explain a substantial proportion (7.5%) of food waste by retailers in the US.
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This research explores the impact of channel-based price discrimination on key consumer reactions. Three experimental studies provide evidence that price differentiation with lower online prices is feasible. Results indicate the e...
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This research explores the impact of channel-based price discrimination on key consumer reactions. Three experimental studies provide evidence that price differentiation with lower online prices is feasible. Results indicate the effects observed depend on the size of the price difference and differ between product categories. The studies provide evidence on the interplay of two central cognitive effects when facing channel-based price differences: (a) implicit assumptions on higher costs running a conventional store which may justify differing prices versus (b) a general negative attitude towards price discrimination. Moreover, we show actively communicating additional value provided offline fosters acceptance of price discrimination.
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As the retail market becomes more competitive, it is significant for retailers to present a proper and attractive retail pricing strategy. This paper proposes a two-stage customized retail pricing design based on personalized dema...
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As the retail market becomes more competitive, it is significant for retailers to present a proper and attractive retail pricing strategy. This paper proposes a two-stage customized retail pricing design based on personalized demand response incentives for different residential users. To accurately simulate the load variation according to the price change, the real-time elasticity concept has been first introduced into the framework of customizing retail prices. The utilization of customizing prices is to make better use of the price elasticity to encourage the load shifting of end-users and their active engagement in demand response. In the first stage, the retail price base value is obtained by simultaneously optimizing the time-of-use (ToU) structure and corresponding price level. The second stage focuses on the load redistribution caused by individualized price incentives, and the retail price revision is set. The two-stage solution results are combined to obtain the final customized retail electricity price plans. To verify the feasibility and effectiveness of the proposed method, the customized retail pricing scheme is tested with 30 selected users. Compared with the traditional unified retail pricing method, the total retail profit increases by 10.62%, and the total retail conditional value at risk (CVaR) and consumers' payment decrease by 27.69% and 3.82%, respectively through the proposed customizing retail price method. The numerical results prove that through the proposed retail pricing method the retailing profit has increased, while the consumers' payment and risk management have also been guaranteed.
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摘要 :
Purpose - The purpose of this research is to examine whether there are differences in use of price sources in online and offline shopping contexts, and
the effect of time spent online on these potential differences.
Design/metho...
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Purpose - The purpose of this research is to examine whether there are differences in use of price sources in online and offline shopping contexts, and
the effect of time spent online on these potential differences.
Design/methodology/approach - A quasi-field experimental design with shopping channel and online usage as factors is used. MANOVA was used
to analyze the data collected from 180 subjects (54 percent female; mean age of sample = 27 years).
Findings - The findings revealed context specificity in the use of price sources. Prices previously seen in traditional media are more likely to be used
while shopping offline, while prices previously seen on the internet are more likely to be used while shopping online. The extent of time spent online
would also lead to more use of prices previously seen on the internet.
Research limitations/implications - The research examined consumer intentions of using price sources within the accessibility-diagnosticity
framework. Future research should measure accessibility and diagnosticity of specific price sources in different shopping contexts.
Practical implications - Retailers should base their pricing on channel characteristics. They should exploit the capabilities of the online channel to be
more competitive. Pricing communication strategies should also take into account extent of time spent online.
Originality/value - The research suggests that price parity between online and offline channels may not be critical for multichannel marketers. Online
and offline channels are different shopping contexts and as such offer unique opportunities to attract consumers. Pricing strategies should take into
account these differences.
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Refund depth may influence the effectiveness of a price guarantee when a store offers to reimburse customers more than the price difference. Using an experimental study that features real stores with high credibility, this article...
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Refund depth may influence the effectiveness of a price guarantee when a store offers to reimburse customers more than the price difference. Using an experimental study that features real stores with high credibility, this article shows that a simple price-matching guarantee has no effect on either the perceived value of an offer or intentions to visit the store. Low and high penalty levels have smaller effects than intermediate penalties, but the believability of price guarantee offers that contain a penalty remains constant; this finding may reflect a general distrust of additional penalties.
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Drawing on 55 interviews with executives across five online fashion retailers, this paper explores the challenges of price setting and management. We develop a descriptive model of 'locked-in' pricing practice to explain organisat...
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Drawing on 55 interviews with executives across five online fashion retailers, this paper explores the challenges of price setting and management. We develop a descriptive model of 'locked-in' pricing practice to explain organisational routines focused on cost-plus pricing, alignment with competitor prices and historical pricing. Drivers include the complex and uncertain outcomes of pricing, and lack of investment in leading-edge pricing methodologies, together with inadequate training and pricing ownership. Outcomes comprise an aversion to price risk-taking, sees decisions guided by heuristics and a lack of openness to alternative pricing methods. We offer implications for pricing practice to overcome these locked-in behaviours and suggest that research addresses challenges encountered in the implementation of new pricing techniques in organisational settings to narrow the gap between theory and practice.
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The effect of external factors such as the economic situation on airline ticket price behaviour has not been examined in the specialised literature. In this paper, we analyse the effect of the economic crisis on the behaviour of t...
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The effect of external factors such as the economic situation on airline ticket price behaviour has not been examined in the specialised literature. In this paper, we analyse the effect of the economic crisis on the behaviour of the prices offered via several types of intermediaries over time. We chose to examine the Madrid New York route because of its high demand which provides us with a sufficient number of flights and it is used for both business and leisure trips. We used round-trip fares posted on-line, from two months prior to departure, in order to replicate real travellers' behaviour when making reservations. We chose flights in 2009 and 2013 departing on 18th June and returning eight days later on 26th June, in order to avoid peak holiday times. The results show that the economic crisis has affected price behaviour both in terms of price level and dispersion, with a clear increase in price level and decrease in price dispersion. Moreover, the economic crisis has reduced the usual marked increase in average price that takes place as the flight departure date approaches. (C) 2015 Elsevier Ltd. All rights reserved.
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In the last two decades the Italian food retail industry has changed considerably also thanks to the liberalization process started with the 1998 retail regulation reform. In this study, we investigate the impact of such reform on...
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In the last two decades the Italian food retail industry has changed considerably also thanks to the liberalization process started with the 1998 retail regulation reform. In this study, we investigate the impact of such reform on the food and beverage consumer price index, controlling for the endogenous nature of the policy adoption across regions, and addressing what changes in food retail structure may have driven those effects. We find that the policy had a mitigating effect on food prices, whichcan be explained by the change in the number and composition of food stores operating in the Italian market, rather than by the changes in store size and in-store services. We find the policy effects not to be statistically different across regions characterized by different levels of liberalization.
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We investigate the impact of store capacity and extent of inter-product substitution in a retailer's assortment on the optimal timing and depth of price promotions. We develop a stylised model of a monopolistic retailer selling tw...
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We investigate the impact of store capacity and extent of inter-product substitution in a retailer's assortment on the optimal timing and depth of price promotions. We develop a stylised model of a monopolistic retailer selling two substitutable products over time, where demand for each product in each period is a function of the prices of both products in that and earlier periods as well as the degree of substitution between the two periods. We present closed-form solutions to limiting cases of the model, and observe the following: When retailers optimise profits, (1) price promotions are relatively deeper in both absolute and relative terms at higher capacity stores than at low capacity stores, (2) price promotions for more expensive products are relatively deeper (shallower) in both absolute and relative terms than price promotions for cheaper products if the degree of substitution is low (high) and (3) the products are sequentially promoted if the degree of substitution is low, and simultaneously promoted if the degree of substitution is high. To confirm that these insights from a simple stylised two-product model are relevant in practice, we survey price promotions within the shampoo and detergent assortments of four mass-market retailers, and observe behaviour corresponding to the results from our stylised model.
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