Essays In Consumer Behavior And Pricing
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Essays In Consumer Behavior And Pricing
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Author : Ammara Mahmood
language : en
Publisher:
Release Date : 2014
Essays In Consumer Behavior And Pricing written by Ammara Mahmood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Consumer behavior categories.
Essays On Consumer Shopping Behavior And Price Dispersion
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Author : Aleksandr Yankelevich
language : en
Publisher:
Release Date : 2011
Essays On Consumer Shopping Behavior And Price Dispersion written by Aleksandr Yankelevich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Electronic dissertations categories.
Essay 1: "Price-Matching in a Sequential Search Duopoly" While substantial research has tried to determine if price-matching guarantees are anti-competitive, most previous studies have overlooked the effect that these policies have on consumer search behavior. This essay examines how price-matching guarantees affect consumer behavior and prices in a model of sequential price search. By endogenizing consumers' acquisition of price information, I find that price-matching may raise prices in three new ways. First, price-matching diminishes firms' incentives to lower prices to attract consumers who have no cost of search. Second, for consumers with positive search costs, price-matching lowers the marginal benefit of search, inducing them to accept higher prices. Finally, higher prices may come about because price-matching can lead to asymmetric equilibria where one firm runs fewer sales and both firms tend to offer smaller discounts than in a symmetric equilibrium. These price increasing effects grow in proportion to the number of consumers who make use of price-matching guarantees as well as in the amount of asymmetry that prevails in equilibrium. Essay 2: "Asymmetric Sequential Search" (with Carmen Astorne-Figari) Rival firms often find themselves catering to a very different mix of customers from that of their competitors. This can lead to variations in pricing behavior even when other factors, such as product quality and the cost of production, are held constant across firms. In this essay, we use a model of sequential consumer price search to explore how asymmetries in the demand structures across firms impact firm pricing. In our model, a fraction of consumers must pay a cost to search for prices beyond their local firm and firms serve different fractions of local consumers. The price distribution of a firm with more local consumers first order stochastically dominates that of a firm with fewer local consumers and places positive probability on its upper bound. This means that a firm with more local consumers has a higher average price and runs sales less frequently. The frequency of sales diminishes in the number of local consumers, but price dispersion persists even if all consumers are local to a single firm. Moreover, as the fraction of consumers who search without cost increases, firms tend to offer bigger discounts, while the likelihood of a sale may fall. Essay 3: "Energizer: The Bunny or the Battery? Advertising as a Way to Publicize Either the Brand or the Good" (with Carmen Astorne-Figari) Experimental studies and surveys of consumers suggest that an important role of advertising is to convince consumers that they want the product and to buy it from the brand advertising it. However, because of competitive clutter, an advertisement that induces a consumer to enter the market may lead her to purchase from a competing brand. Thus, we can characterize two effects of advertising: (i) an effect that benefits the individual firm by promoting binding between the brand and the advertised good and (ii) a "public good" quality that benefits all producers of the good by inducing additional consumers to enter the market. We analyze these two effects to study the relationship between advertising and market size, price, firm profit and consumer welfare.
Essays On Consumer Behaviour And Pricing
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Author : Ammara Mahmood
language : en
Publisher:
Release Date : 2014
Essays On Consumer Behaviour And Pricing written by Ammara Mahmood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Essays On Participatory Pricing Branding And Consumer Behavior
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Author : James Blair
language : en
Publisher:
Release Date : 2018
Essays On Participatory Pricing Branding And Consumer Behavior written by James Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Brand choice categories.
Essays On Two Novel Pricing Mechanisms
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Author : Paul Mills (Writer on marketing)
language : en
Publisher:
Release Date : 2017
Essays On Two Novel Pricing Mechanisms written by Paul Mills (Writer on marketing) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This dissertation addresses two major themes in behavioral pricing; how consumers construct and use reference prices to judge the attractiveness of a price, and how guilt, and perceptions of fairness, influence consumer behavior. Essay 1 examines how consumers judge the attractiveness of prices in a new context. Prior research on coupons has focused on individual coupons that are "pushed" to consumers. When assessing individual coupons, consumers are apt to use a memory-based, or internal reference price strategy that relies on past purchases to assess price attractiveness. This dissertation examines a setting in which supermarket shoppers scan a product's bar code to receive a set mobile coupons for competing products. Coupon values are customized according to each customer's redemption history. Evaluating a set of "pull" coupons prompts some consumers to use a comparative, or stimulus-based reference price strategy. By segmenting consumers according to which strategy they use, I model how coupon value, the number of competing coupons, range of prices for competing brands, and brand loyalty influence redemption behavior over months of coupon use. While my research focuses on mobile coupons, the findings may be useful to marketers interested in other settings where consumers receive information about competing brands, such as the price comparison tools and recommendation engines used by retailers like Google and Amazon.Within the behavioral pricing literature, price fairness has important status, since firms' profits are constrained by fear of perceived price exploitation. Since firms have traditionally had the power to set prices, most studies have examined price fairness from the firm's perspective. However, as consumers' power increases, so does their tendency to take advantage of companies. Essay 2 addresses a gap in the price fairness literature by empirically testing whether an individual trait, anticipated guilt, together with information about social norms of fairness, constrain the selfish behavior of consumers who are allowed to pay any price they want. I find that anticipated guilt, contingent on the salience of social norms, plays a significant role in determining how selfishly consumers behave. Guilt proneness matters more when consumers are less certain about what response is socially acceptable than when they are provided with information about what others consider fair. I then show that these results are robust across two other settings prone to opportunism: abusing merchandise return policies, and engaging in computer piracy.
Three Essays On Consumer Behavior And Asset Prices
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Author : Jeon-Hyeok Cho
language : en
Publisher:
Release Date : 1991
Three Essays On Consumer Behavior And Asset Prices written by Jeon-Hyeok Cho and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
Essays On Consumer Behavior And Analytics
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Author : Prabhanjan Didwania
language : en
Publisher:
Release Date : 2022
Essays On Consumer Behavior And Analytics written by Prabhanjan Didwania and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
The first chapter of my dissertation is joint work with Professor Karsten Hansen. This chapter examines gender differences in grocery retail shopping. We used consumer transaction data over the length of 12 years to find that the typical female consumer is less concentrated in choice of retail outlet, product category, brand choice and is more responsive to promotions than male shoppers. The findings are confirmed in both the "raw data" and regression analysis (including other demographic factors). The second chapter is a solo-authored paper. Chapter 2 examines consumer behavior in response to manipulations of an increasingly popular price framework, called 'drip pricing'. Our research is the first to provide insights through the manipulation (salience, magnitude, and type) of its two primary elements: the base price and surcharges. We conduct eight field experiments on a popular travel platform to document causal effects on the search and purchase process. My findings confirm the importance of the headline price as an 'anchor' in this framework; additionally, its removal led to higher quality tickets purchased but led to a reduced quantity of tickets sold. When surcharge information is shrouded, customers are not information seeking and did not seek price information and made purchases based on the most pertinent data. Consumers are more sensitive to changes in fees at lower prices and are responsive to variations in the type of surcharge. Additionally, customers are responsive to taxes rather than fee surcharges.
Essays On Dynamic Pricing With Nuances Of Consumer Behavior And Social Influcences
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Author : Jafar Chaab
language : en
Publisher:
Release Date : 2023
Essays On Dynamic Pricing With Nuances Of Consumer Behavior And Social Influcences written by Jafar Chaab and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
Marketing And The Common Good
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Author : Patrick E. Murphy
language : en
Publisher: Routledge
Release Date : 2013-07-24
Marketing And The Common Good written by Patrick E. Murphy and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-24 with Business & Economics categories.
Marketing is among the most powerful cultural forces at work in the contemporary world, affecting not merely consumer behaviour, but almost every aspect of human behaviour. While the potential for marketing both to promote and threaten societal well-being has been a perennial focus of inquiry, the current global intellectual and political climate has lent this topic extra gravitas. Through original research and scholarship from the influential Mendoza School of Business, this book looks at marketing’s ramifications far beyond simple economic exchange. It addresses four major topic areas: societal aspects of marketing and consumption; the social and ethical thought; sustainability; and public policy issues, in order to explore the wider relationship of marketing within the ethical and moral economy and its implications for the common good. By bringing together the wide-ranging and interdisciplinary contributions, it provides a uniquely comprehensive and challenging exploration of some of the most pressing themes for business and society today.
Three Essays On Consumer Behavior Under Uncertainty
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Author : Koichi Yonezawa
language : en
Publisher:
Release Date : 2014
Three Essays On Consumer Behavior Under Uncertainty written by Koichi Yonezawa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Consumer behavior categories.
It is well understood that decisions made under uncertainty differ from those made without risk in important and significant ways. Yet, there is very little research into how uncertainty manifests itself in the most ubiquitous of decision-making environments: Consumers' day-to-day decisions over where to shop, and what to buy for their daily grocery needs. Facing a choice between stores that either offer relatively stable "everyday low prices" (EDLP) or variable prices that reflect aggressive promotion strategies (HILO), consumers have to choose stores under price-uncertainty. I find that consumers' attitudes toward risk are critically important in determining store-choice, and that heterogeneity in risk attitudes explains the co-existence of EDLP and HILO stores - an equilibrium that was previously explained in somewhat unsatisfying ways. After choosing a store, consumers face another source of risk. While knowing the quality or taste of established brands, consumers have very little information about new products. Consequently, consumers tend to choose smaller package sizes for new products, which limits their exposure to the risk that the product does not meet their prior expectations. While the observation that consumers purchase small amounts of new products is not new, I show how this practice is fully consistent with optimal purchase decision-making by utility-maximizing consumers. I then use this insight to explain how manufacturers of consumer packaged goods (CPGs) respond to higher production costs. Because consumers base their purchase decisions in part on package size, manufacturers can use package size as a competitive tool in order to raise margins in the face of higher production costs. While others have argued that manufacturers reduce package sizes as a means of raising unit-prices (prices per unit of volume) in a hidden way, I show that the more important effect is a competitive one: Changes in package size can soften price competition, so manufacturers need not rely on fooling consumers in order to pass-through cost increases through changes in package size. The broader implications of consumer behavior under risk are dramatic. First, risk perceptions affect consumers' store choice and product choice patterns in ways that can be exploited by both retailers and manufacturers. Second, strategic considerations prevent manufacturers from manipulating package size in ways that seem designed to trick consumers. Third, many services are also offered as packages, and also involve uncertainty, so the effects identified here are likely to be pervasive throughout the consumer economy.