摘要 :
Companies adopt pricing strategies to maximize their profits. However, in light of an ongoing pandemic, these strategies have been put under the scanner across industries. Companies need to modify their pricing strategies to adapt...
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Companies adopt pricing strategies to maximize their profits. However, in light of an ongoing pandemic, these strategies have been put under the scanner across industries. Companies need to modify their pricing strategies to adapt to these unprecedented times. The study focuses on these pricing strategies, their necessity during the pandemic, and how they can be effectively implemented without any long-term implications for various companies and businesses. The study focuses on various aspects of pricing and the suitability of pricing strategies during the pandemic. The study suggests pricing strategies which companies may follow. Pricing strategies of several industries which are in crisis are also discussed. The study will help companies to understand the economic situation and formulate pricing strategies accordingly. Such pricing strategies will allow companies to satisfy their customers, sustain in the competition, and achieve business excellence.
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We assess the role of cognitive convenience in the popularity and rigidity of 0-ending prices in convenience settings. Studies show that 0-ending prices are common at con-venience stores because of the transaction convenience that...
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We assess the role of cognitive convenience in the popularity and rigidity of 0-ending prices in convenience settings. Studies show that 0-ending prices are common at con-venience stores because of the transaction convenience that 0-ending prices offer. Using large store-level retail CPI data, we find that 0-ending prices are popular and rigid at con-venience stores even when they offer little transaction convenience. We corroborate these findings with two large retail scanner price datasets from Dominick's and Nielsen. In Do-minick's data, we find that there are more 0-endings in the prices of the items in the front-end candies category than in any other category, even though these prices do not affect the convenience of the consumers' check-out transaction. In addition, in both Do-minick's and Nielsen's datasets, we find that 0-ending prices have a positive effect on demand. Ruling out consumer antagonism and retailers' use of heuristics in pricing, we conclude that 0-ending prices are popular and rigid, and that they increase demand in convenience settings, not only for their transaction convenience but also for the cognitive convenience they offer. (c) 2022 Elsevier B.V. All rights reserved.
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Dynamic pricing has great potential to increase retailers' profits, but it also creates a risk of negative customer reactions. This paper examines whether and how price discount displays might mitigate negative consequences of dyn...
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Dynamic pricing has great potential to increase retailers' profits, but it also creates a risk of negative customer reactions. This paper examines whether and how price discount displays might mitigate negative consequences of dynamic pricing. The results of five studies indicate that when confronted with dynamic pricing customers react negatively due to norm violation, in terms of their perceptions of pricing transparency, price fairness, and value, as well as their purchase intention. However, if retailers display prices as sufficiently high discounts, they can mitigate these negative reactions. The results also suggest that customers tend to focus on the general pricesetting process when evaluating a specific transaction in a dynamic pricing context. Therefore, it is necessary to consider both distributive and procedural fairness to explain and predict customers' reactions to dynamic prices. Further, the results point to how managers may be able to successfully implement dynamic pricing, using price discount displays.
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Purpose - In this brief paper, the aim is to highlight three important pricing areas: the business strategies and pricing models that have evolved over the past 20 years of research, the customers that have been targeted, and the ...
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Purpose - In this brief paper, the aim is to highlight three important pricing areas: the business strategies and pricing models that have evolved over the past 20 years of research, the customers that have been targeted, and the role of the internet on pricing. The advent of social media, mobile marketing and display technologies are likely to encourage researchers to pursue additional research on these topics. Design/methodology/approach - The current paper is an essay aimed at stimulating pricing research in three major domains. Findings - The authors review illustrative current practices and research findings pertaining to emerging pricing business models, customer target marketing and price dispersion on the web. Research limitations/implications - The paper highlights areas that need empirical investigation. Practical implications - Managers need to explicitly understand the role of these emerging technologies (e.g. social media, mobile media, and web-application) and appropriately incorporate them into their pricing strategies. Originality/value - The paper's central contribution is to stimulate additional research on key pricing areas.
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Firms increasingly deploy algorithmic pricing approaches to determine what to charge for their goods and services. Algorithmic pricing can discriminate prices both dynamically over time and personally depending on individual consu...
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Firms increasingly deploy algorithmic pricing approaches to determine what to charge for their goods and services. Algorithmic pricing can discriminate prices both dynamically over time and personally depending on individual consumer information. Although legal, the ethicality of such approaches needs to be examined as often they trigger moral concerns and sometimes outrage. In this research paper, we provide an overview and discussion of the ethical challenges germane to algorithmic pricing. As a basis for our discussion, we perform a systematic interpretative review of 315 related articles on dynamic and personalized pricing as well as pricing algorithms in general. We then use this review to define the term algorithmic pricing and map its key elements at the micro-, meso-, and macro levels from a business and marketing ethics perspective. Thus, we can identify morally ambivalent topics that call for deeper exploration by future research.
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It is commcmly believed that since the 1973 oil crisis, oil and energy prices have been more volatile than other commodity prices. This study examines monthly producer prices for thousands of products over the period January 1945 ...
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It is commcmly believed that since the 1973 oil crisis, oil and energy prices have been more volatile than other commodity prices. This study examines monthly producer prices for thousands of products over the period January 1945 through August 2005. The results show that crude oil, refined petroleum, and natural gas prices are more volatile than prices for about 95% of products sold by domestic producers. Relative to crude commodities, however, crude oil prices are currently more volatile than about 65% of other products, and oil price volatility first exceeded the median for crude commodities following the 1986 drop in oil prices.
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Abstract This paper seeks to identify terminology to aid in distinguishing the approaches to the theory of price determination as presented in classical political economy, neoclassical economics and post‐Keynesian economics. Thro...
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Abstract This paper seeks to identify terminology to aid in distinguishing the approaches to the theory of price determination as presented in classical political economy, neoclassical economics and post‐Keynesian economics. Through a review of the respective literature, a dominant usage is identified for the theoretical price concept in each theory. Natural price is identified with classical theory, equilibrium price with neoclassical theory and administered price with post‐Keynesian theory. Use of the differentiated terminology is advocated for improving clarity in pluralist discourse on the theory of price determination and the role of prices in modern market economies with their inherent complexity.
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This study investigates customer reactions to variable pricing (that is, being charged different prices for the same goods or services at one point in time across different markets) and finds that customers show asymmetrical respo...
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This study investigates customer reactions to variable pricing (that is, being charged different prices for the same goods or services at one point in time across different markets) and finds that customers show asymmetrical responses to an increase in price difference. Specifically, customers who pay a higher price show stronger intentions to switch stores, to complain and to spread negative word-of-mouth when price difference gets larger, while the same amount of increase in price difference shows no effect on those who pay a lower price. In addition, negative emotions experienced by customers mediate the relationship between unfairness perception and behavioural responses. Results suggest that managers should exercise extra caution when introducing a relatively large price difference, and they should try to manage customers' in-store emotional state to reduce the negative effects of variable pricing.
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The purpose of this article is to analyse the repertoire of possible price models that organisations may deploy for their products and services. This is attained by developing the SBIFT model that suggests that organisations can d...
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The purpose of this article is to analyse the repertoire of possible price models that organisations may deploy for their products and services. This is attained by developing the SBIFT model that suggests that organisations can differentiate by price along five dimensions. Previous research on pricing has been dispersed across different academic disciplines. This article offers a more integrated perspective, derived from earlier theory as well as discussions in a collaborative research project with the international telecom company Ericsson. The model can be used as a tool for price modelling in a descriptive and prescriptive sense. Altogether, this article uncovers implicit features of price models, and by doing so it illustrates how an organisation can differentiate and re-invent their offering based on price.
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Abstract In an effort to promote rational drug pricing and relieve the pressure of drug shortages, the Chinese government implemented a low‐price medicine (LPM) policy in July 2014, and abolished price regulations for most medica...
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Abstract In an effort to promote rational drug pricing and relieve the pressure of drug shortages, the Chinese government implemented a low‐price medicine (LPM) policy in July 2014, and abolished price regulations for most medications in June 2015. This study examines trends in the availability and pricing of LPMs since policy implementation. Data on price and availability of 752 LPMs during 2013–2017 were obtained from the Jiangsu Institute of Medicine Information. Availability was defined as the proportion of facilities in which a medicine was in inventory during each survey period. A price index was constructed based on purchasing prices in 40 public healthcare facilities, using a standard method developed by the International Labour Organization. Mean availability fluctuated slightly but held at low levels (<15%). Levels were conspicuously lower in primary hospitals than in secondary and tertiary hospitals. Our logistic regression model showed that the essential medicine designation was the main factor facilitating availability. The overall price index remained static before implementation of the policy, while there was a marked upward trend after implementation of the policy. Further efforts are needed to improve the pharmaceutical supply system, and simultaneously curb unreasonable inflation in medicine costs.
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