Reference Price In Online And Offline Channels
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Reference Price In Online And Offline Channels
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Author : Marta Arce-Urriza
language : en
Publisher:
Release Date : 2014
Reference Price In Online And Offline Channels written by Marta Arce-Urriza 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.
This paper (Chapter 3 of a dissertation on online shopping behavior) evaluates the role of reference price on consumer behavior at the online channel, focusing on whether it plays a relevant role, how it is formed, the importance of two broad types of reference prices, internal reference price (IRP) and external reference price (ERP), and potential differences to those effects observed offline. Using a unique data set of online and offline grocery purchases from the same sample of consumers of a large multichannel grocery chain, we analyze purchases and unplanned no-purchases in the orange juice category for consumers who face equal prices across online and offline channels, and use multinomial logit models which account for IRP and ERP effects. To avoid that IRP and ERP drop out of our multinomial estimations, we use item-specific measures for both of them. IRP is measured as the price observed for each alternative by consumers on their last visit to the store, whereas ERP is measured according to four different formulations: ERP (mean), ERP (low), ERP (high) and Rank. In our data we find that ERP (mean) performs better than any other formulation for ERP. One of the main contributions of the chapter is that reference price effects on consumer behavior differ across online and offline channels. Regarding reference price in general, we find that the impact of reference price is greater offline. Regarding IRP and ERP, we find that at both channels, the impact of IRP is greater than that of ERP, but that the relative impact of IRP with regard to ERP is greater online than offline. Besides, results show that whereas the impact of IRP is similar online and offline, the impact of ERP is significantly greater offline; in fact ERP is not significant online. Additionally, the influence of purchase frequency on the impact of IRP and ERP on brand choice across channels is evaluated. For frequent shoppers, the effects of IRP and ERP coincide with those observed for the general population. However, they are slightly different for infrequent shoppers. Results indicate that the role of ERP increases considerably for infrequent shoppers compared to frequent shoppers, and that it becomes significant in the online channel for infrequent shoppers. These results are of remarkable interest for retailers because they would help them to organize correctly the timing of promotion and price changes online. Moreover, these findings become especially relevant for multi-channel retailers operating both online and offline. As shown by a simulation detailed in the chapter, a change in price impacts IRPs and ERPs, and these changes in IRPs and ERPs influence alternatives' choice probabilities in the category. This change in alternative's choice probabilities translate into differences in sales' distribution in the category and, consequently, on the revenues obtained by the retailer. If retailers do not consider that the impact of reference prices differs across channels, they may follow inadequate pricing strategies for the online and offline channels. In fact, for the category of orange juice, we find that the grocery retailer could increase its revenues by 3.43% if it discriminated prices across shopping channels.
Online Channel Integration
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Author : Jochen Binder
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-13
Online Channel Integration written by Jochen Binder and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-13 with Business & Economics categories.
Today, most firms employ online and offline distribution channels. Customers combine both channels for information search and purchase. However, researchers and practitioners are still lacking insight concerning the creation of additional customer value, in terms of a seamless purchase experience, by combining the online and offline channels. Also, it is unclear if these channel integration activities can actually help multichannel firms obtain a strategic advantage over their online pureplay competitors. Jochen Binder investigates how, why, and to what extent an integrated online channel increases customer value and leads to higher willingness to pay, customer loyalty and purchase intention in a firm's online and offline stores.
Service And Price Strategies With Bidirectional Free Riding In Dual Channel
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Author : Jia Ren
language : en
Publisher:
Release Date : 2023
Service And Price Strategies With Bidirectional Free Riding In Dual Channel written by Jia Ren 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.
The co-existence of offline and online channels makes customers easily enjoy services from one channel but buy from another. This phenomenon is called bidirectional free-riding, and its impact on both channels is an essential issue. Our study finds that (1) inconsistent pricing strategy increases offline sales and profits with the degree of bidirectional free-riding rising but decreases the online sales and profits; (2) consistent pricing strategy could mitigate the negative impact of bidirectional free-riding on the retailer, but it is at the expense of the manufacturer's profits; (3) the lower degree of bidirectional free-riding makes both channels more willing to improve their service in a consistent pricing strategy, here the retail price and overall profit goes higher; (4) the higher degree of bidirectional free-riding makes both more willing to reduce the price competition in an inconsistent pricing strategy, here the overall profit goes higher. The above conclusions reference optimal channel decisions for online manufacturers and offline retailers.
China S Insurance And Green Economy Development In The Context Of Sustainable Development
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Author : Yuantao Xie
language : en
Publisher: Frontiers Media SA
Release Date : 2024-01-03
China S Insurance And Green Economy Development In The Context Of Sustainable Development written by Yuantao Xie and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-03 with Science categories.
Multichannel Commerce
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Author : Manuel Trenz
language : en
Publisher: Springer
Release Date : 2015-03-23
Multichannel Commerce written by Manuel Trenz and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-23 with Business & Economics categories.
This book takes an in-depth look at consumer behavior in the context of multichannel commerce and explores how the convergence of physical and electronic channels influences consumer decision-making in a multichannel environment. In this regard, it goes far beyond explaining choices between online and offline sales channels, instead providing insights into how the interplay between different channel types is valued by different consumer types and for different products. The book extends previous conceptualizations of multichannel commerce to reflect and incorporate recent technological advances. The results provide valuable guidelines on how, why and when multichannel integration services can be exploited by classical retailers, helping them to compete with their purely online competitors on the internet.
The Economics Of Online Markets And Ict Networks
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Author : Russel Cooper
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-07-25
The Economics Of Online Markets And Ict Networks written by Russel Cooper and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07-25 with Business & Economics categories.
This volume examines the economics of platform structure and firm competition within and between online markets. It also details modern theoretical treatments of regulatory intervention in online markets and the consideration of forward-looking experimental analysis of demand for yet to be provided services. The volume is divided into three parts: innovation and competition in online markets; regulation, pricing and evaluation with real options; and empirical approaches to market analysis.
The Routledge Companion To Consumer Behavior
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Author : Michael R. Solomon
language : en
Publisher: Routledge
Release Date : 2017-09-22
The Routledge Companion To Consumer Behavior written by Michael R. Solomon and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-22 with Business & Economics categories.
The key to marketing is understanding and satisfying consumer needs, thus a knowledge of consumer behavior is essential to any organization dealing with customers, users, or clients. This book promises to be a contemporary classic. It brings together an international set of scholars, many of whom are "household names", to examine the diverse approaches to consumer behavior topics. The editors employ a micro to macro structure, dividing each topic into three parts: one reflecting foundational work, one focused on emerging trends, and one covering practical applications. Each part examines the relationship between consumer behaviour and motivation, including well-being, gender, social class, and more, and concludes with practitioner perspectives on the challenges and opportunities that come with understanding customers. Readers will gain insight into how drives that are constantly in flux relate to other aspects of human cognition and behavior, allowing them to reach customers successfully, and to meet their needs. With contributions from leading scholars, including Sidney Levy and Jagdish Sheth, this volume sets the standard as the most comprehensive, cutting-edge resource on the subject of consumer behavior. Students of consumer behaviour and marketing will find this a useful exploration of a fast-moving field, fundamental to the welfare of companies, government, non-profits, and consumers. It will also benefit new and established academic researchers as well as practitioners who want to stay on top of current knowledge.
Applications Of Operational Research And Mathematical Models In Management
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Author : Miltiadis Chalikias
language : en
Publisher: MDPI
Release Date : 2020-11-17
Applications Of Operational Research And Mathematical Models In Management written by Miltiadis Chalikias and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-17 with Mathematics categories.
This book, Applications of Operational Research and Mathematical Models in Management, includes all the papers published in the Mathematics Special Issue with the same title. All the published papers are of high quality and were subjected to rigorous peer review. Mathematics is included in the Science Citation Index (Web of Science), and its current Impact Factor is 1.747. The papers in this book deal with on R&D performance models, methods for ranking the perspectives and indicators of a balance scorecard, robust optimization model applications, integrated production and distribution problem solving, demand functions, supply chain games, probabilistic optimization and profit research, coordinated techniques for order preference, robustness approaches in bank capital optimization, and hybrid methods for tourism demand forecasting. All the papers included contribute to the development of research.
The Handbook Of Technology Management Supply Chain Management Marketing And Advertising And Global Management
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Author : Hossein Bidgoli
language : en
Publisher: John Wiley & Sons
Release Date : 2010-01-12
The Handbook Of Technology Management Supply Chain Management Marketing And Advertising And Global Management written by Hossein Bidgoli and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-12 with Business & Economics categories.
The discipline of technology management focuses on the scientific, engineering, and management issues related to the commercial introduction of new technologies. Although more than thirty U.S. universities offer PhD programs in the subject, there has never been a single comprehensive resource dedicated to technology management. "The Handbook of Technology Management" fills that gap with coverage of all the core topics and applications in the field. Edited by the renowned Doctor Hossein Bidgoli, the three volumes here include all the basics for students, educators, and practitioners
Pricing Online Marketing Behavior And Analytics
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Author : G. Viglia
language : en
Publisher: Springer
Release Date : 2014-05-09
Pricing Online Marketing Behavior And Analytics written by G. Viglia and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-09 with Business & Economics categories.
Over the past few decades marketing practices have shifted with the sudden growth of social media and the proliferation of devices, platforms, and applications. This rapidly changing environment presents new opportunities and challenges for marketers, who need to stay up to date with the development of e-marketing. Viglia instructs readers in the theories and practices of online marketing;, detailing the characteristics, consumer behaviors, and differences between platforms, analytics, and pricing strategies of new media. Pricing, Online Marketing Behavior, and Analytics covers many different aspects of how online marketing works and its continuous evolution. Case studies and examples are used throughout the book to outline theories and explain e-marketing characteristics in a practical way.