Quality Pricing To Market

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Quality Pricing To Market

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Author : Raphael Auer
language : en
Publisher:
Release Date : 2014

Quality Pricing To Market written by Raphael Auer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with International trade categories.

We examine firm's pricing-to-market decisions in vertically differentiated industries featuring a large number of firms that compete monopolistically in the quality space. Firms sell goods of heterogeneous quality to consumers with non-homothetic preferences that differ in their income and thus their marginal willingness to pay for quality increments. We derive closed-form solutions for the pricing game under costly international trade, thus establishing existence and uniqueness. We then examine how the interaction of good quality and market demand for quality affects firms' pricing-to-market decisions. The relative price of high quality goods compared to that of low quality goods is an increasing function of the income in the destination market. When relative costs change, the rate of exchange rate pass-through is decreasing in quality in high income countries, yet increasing in quality in low-income countries. We then document that these predictions receive empirical support in a dataset of prices and quality in the European car industry.

Quality Pricing To Market

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Author : Raphael A. Auer
language : en
Publisher:
Release Date : 2017

Quality Pricing To Market written by Raphael A. Auer 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.

Managing Customer Value

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Author : Bill Dodds
language : en
Publisher: University Press of America
Release Date : 2003

Managing Customer Value written by Bill Dodds and has been published by University Press of America this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.

Providing the right combination of product quality, customer service and price is good business. Unless a business does something that creates value for their customer, then the chances of business success are nil.

Quality And Pricing Decisions In A Market With Consumer Information Sharing

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Author : Baojun Jiang
language : en
Publisher:
Release Date : 2018

Quality And Pricing Decisions In A Market With Consumer Information Sharing written by Baojun Jiang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

We provide a dynamic, game-theoretic model to examine a firm's quality and pricing decisions for a new experience good. Early consumers do not observe product quality prior to purchase but can learn it after purchase and share that product-quality information with later consumers, for example, through online reviews. Both the firm's quality decision and its cost efficiency are the firm's private information and not directly observed by the consumer. The early consumers can make a rational inference from the firm's price about its cost and quality taking into account the firm's profit incentive from the later informed consumers. We find that in equilibrium a more cost-efficient firm chooses higher quality than does an inefficient firm. One might intuit that a firm will offer higher quality if its high efficiency is known to consumers than if its efficiency is not known, because it will no longer need to convince consumers that it is not the inefficient firm. Our analysis shows that, surprisingly, the opposite may be true -- when a firm's high efficiency is publicly known, the firm may reduce its product quality rather than increase it. Furthermore, consumers' knowledge about the firm's cost efficiency can reduce the consumer surplus. We also show that an improvement in the average cost efficiency in the market can lower the consumer surplus.

Price Quality And Market Share

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Author : Keith Cowling
language : en
Publisher:
Release Date : 1969

Price Quality And Market Share written by Keith Cowling and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Supply and demand categories.

Pricing Through Uncertainty

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Author : Xiaolu Wang
language : en
Publisher:
Release Date : 2015

Pricing Through Uncertainty written by Xiaolu Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.

Pricing practices of firms are an important yet little studied aspect of the price phenomenon in sociology. This study asks the question: Why do different firms, even in the same market, tend to use different pricing practices--value-informed, competition-informed, or cost-informed pricing--to set prices? To answer this question, this study builds a dynamic flocking model of pricing to investigate the inter-dynamics among pricing practices and various market uncertainties. The model shows that each pricing practice is only viable under certain combinations of levels of different market uncertainties. Supporting evidence, theoretical innovations, and practical implications of the model are discussed. Contrary to common intuition, uncertainty, conceptualized as some cognitive tolerance interval, is akin to lubricant, making the otherwise rigid, brittle, and friction-fraught system more smooth, robust, and error-tolerant under certain circumstances. Therefore, uncertainties, and the inter-dynamics among them, should be treated as an endogenous and integral part of the social mechanism at issue, rather than some amorphous “other” external to it.

Constructing Quality

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Author : Jens Beckert
language : en
Publisher: OUP Oxford
Release Date : 2013-06-13

Constructing Quality written by Jens Beckert and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-13 with Business & Economics categories.

How can we engage in a market relationship when the quality of the goods we want to acquire is unknown, invisible, or uncertain? For market exchange to be possible, purchasers and suppliers of goods must be able to assess the quality of a product in relation to other products. Only by recognizing qualities and perceiving quality differences can purchasers make non-random choices, and price differences between goods be justified. "Quality" is not a natural given, but the outcome of a social process in which products become seen as possessing certain traits, and occupying a specific position in relation to other products in the product space. While we normally take the quality of goods for granted, quality at a closer look is the outcome of a highly complex process of construction involving producers, consumers, and market intermediaries engaged in judgment, evaluation, categorization, and measurement. The authors in this volume investigate the processes through which the quality of goods is established. They also investigate how product qualities are contested and how they change over time. The empirical cases discussed cover a broad range of markets in which quality is especially difficult to assess. The cases include: halal food, funeral markets, wine, labor, school choice, financial products, antiques, and counterfeit goods. The book contributes to the sociology of markets. At the same time it connects to the larger issue of the constitution of social order through cognitive processes of classification.

Quality Competition Pricing To Market And Non Tariff Measures

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Author : Michael J. Ferrantino
language : en
Publisher:
Release Date : 2008

Quality Competition Pricing To Market And Non Tariff Measures written by Michael J. Ferrantino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.

Price Versus Quantity

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Author : Andrew Metrick
language : en
Publisher:
Release Date : 1996

Price Versus Quantity written by Andrew Metrick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Market segmentation categories.

High-quality producers in a vertically differentiated market can reap superior profits by charging higher prices, selling greater quantities, or both. If qualities are known by consumers and production costs are constant, then having a higher quality secures the producer both higher price and higher quantity; if marginal costs are rising, having a higher quality assures only higher price. If only some consumers can discern quality but others cannot, then high- and low-quality producers may set a common price, but the high-quality producer will sell more. In this context, quality begets quantity. Empirical analyses suggest that in both the mutual fund and automobile industries, high-quality producers sell more units than their low-quality competitors, but at no higher price (or markup) per unit

Bargaining Vs Price Competition In A Market With Quality Uncertainty

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Author : Helmut Bester
language : en
Publisher:
Release Date : 1991

Bargaining Vs Price Competition In A Market With Quality Uncertainty written by Helmut Bester and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Pricing categories.