Three Essays In Operations And Marketing
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Three Essays In Operations And Marketing
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Author : Te Ke
language : en
Publisher:
Release Date : 2015
Three Essays In Operations And Marketing written by Te Ke 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.
My thesis consists of three essays in the field of operations management and marketing. In the first essay, I study the problem of consumer search for information on multiple products. When a consumer considers purchasing a product in a product category, the consumer can gather information sequentially on several products. At each moment the consumer can choose which product to gather more information on, and whether to stop gathering information and purchase one of the products, or to exit market with no purchase. Given costly information gathering, consumers end up not gathering complete information on all the products, and need to make decisions under imperfect information. I solve for the optimal search, switch, and purchase or exit behavior in such a setting, which is characterized by an optimal consideration set and a purchase threshold structure. It is shown that a product is only considered for search or purchase if it has a sufficiently high expected utility. Given multiple products in the consumer's consideration set, the consumer only stops searching for information and purchases a product if the difference between the expected utilities of the top two products is greater than some threshold. Comparative statics show that negative information correlation among products widens the purchase threshold, and so does an increase in the number of the choices. Under my rational consumer model, I show that choice overload can occur when consumers search or evaluate multiple alternatives before making a purchase decision. I also find that it is optimal for sellers of multiple products to facilitate information search for low-valuation consumers, while obfuscate information for those with high valuations. In the second essay, I conduct an empirical study of peer effects of iPhone adoptions on social networks. I use a unique data set from a provincial capital city in China, in a span of over four years starting from iPhone's first introduction to mainland China. I construct a social network using six month's call transactions between iPhone adopters and all other users on a carrier's network. Strength of social ties is measured by duration of calls. Based on the network structure, I test whether an individual's adoption decision is influenced by his friends' adoptions. A fixed-effect model shows that, on average, a friend's adoption increases one's adoption probability in next month by 0.89%, and the marginal effect decreases in the size of his current neighboring adopters. To further control for potential time-varying correlated unobservables, I instrument adoptions of one's friends by their birthdays, based on the fact that consumers are more likely to adopt iPhones on birthdays. The IV estimation shows a slightly smaller peer effect at 0.75%. I also investigate how network structures modulate the magnitude of peer influence. My results show that peer effect is stronger when the influencer has more friends or has a stronger relationship with the influence. In the third essay, I study the problem of coordination of operations and marketing decisions for new product introductions. In the industry with radical technology push or rapidly changing customer preference, it is firms' common wisdom to introduce high-end product first, and follow by low-end product line extensions. A key decision in this "down-market stretch" strategy is the introduction time. High inventory cost is pervasive in such industries, but its impact has long been ignored during the presale planning stage. This essay takes a first step towards filling this gap. I propose an integrated inventory (supply) and diffusion (demand) framework, and analyze how inventory cost influences the introduction timing of product line extensions, considering substitution effect among successive generations. I show that under low inventory cost or frequent replenishment ordering policy, the optimal introduction time indeed follows the well-known "Now" or "Never" rule. However, sequential introduction becomes optimal as the inventory holding gets more substantial or the product life cycle gets shorter. The optimal introduction timing can increase or decrease with the inventory cost depending on the marketplace setting, requiring a careful analysis.
Three Essays On Targeting Customization And The Marketing Operations Management Interface
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Author : Xiaoqing Jing
language : en
Publisher:
Release Date : 2010
Three Essays On Targeting Customization And The Marketing Operations Management Interface written by Xiaoqing Jing and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
ABSTRACT: This dissertation focuses on the opportunities and challenges faced by retailers in coordinating Marketing and Operations Management activities. Two issues of special interest are (1) the impact of coordinating marketing and operation strategies, e.g., the impact of customized operational and marketing activities on customer behavior, and (2) the actions firms can take to coordinate marketing and operations management, focusing especially on the opportunity to customize interface decisions based on the vast amount of customer information now available to firms. The thesis consists of three empirical studies, all of which collectively investigate issues related to the marketing/operations interface and the costs and benefits of customized marketing. Chapter 2 examines how product stockouts influence consumer purchase behavior and evaluates the potential value of customized inventory management; Chapter 3 studies how consumers react to customized promotions based on loyal programs; and Chapter 4 studies how restricting return policies affects consumers' purchase and return behavior, which influences both the retailer's revenue and operations cost.
Three Essays On Operations Management
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Author : Seung Jae Park
language : en
Publisher:
Release Date : 2014
Three Essays On Operations Management written by Seung Jae Park 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 dissertation deals with three issues that are important to many firms, namely, volatile commodity prices, environmental regulations, and globalization. In the first essay I study the benefit and the coordination of inventory sharing when there are two existing channels for procurement, i.e., the spot and forward markets. I propose a method for sharing inventory such that the decentralized firms get the same benefit per unit of the sharing transactions regardless of whether the firm is borrowing or lending. The procurement cost gap between the centralized and decentralized cases is dramatically small by using this method. In the second essay, I analyze whether imposing carbon costs to retailers and consumers changes the supply chain design or social welfare. I consider three types of players who want to maximize different objectives and three kinds of competitive settings. Different from previous studies, I show that the supply chain design is changed significantly by imposing carbon costs especially when market competition is medium to high. In the third essay, I consider long-term / short-term strategies of multi-national corporations. For the long-term strategy, I show that the correlation between the exchange rate and the market demand in a foreign country affects plant location. For the short-term strategy, I show that manufacturers increase the inventory levels as the exchange rate of the country where the plant is located grows weaker. I confirm these results empirically using plant-level data of Korean multi-national corporations provided by the Export-Import Bank of Korea.
Three Essays Examining Marketing Capabilities Environmental Influences Firm Performance And Shareholder Value
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Author : Wenbin Sun
language : en
Publisher:
Release Date : 2010
Three Essays Examining Marketing Capabilities Environmental Influences Firm Performance And Shareholder Value written by Wenbin Sun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
My dissertation consists of three essays examining marketing capability's interactions with environmental influences, other functional sectors of the firm, and their impacts on firm performance and shareholder value. The first essay studies how firm capabilities may function differently under different environmental forces. In this study, three environmental factors are considered: munificence, representing the growth opportunities of an industry; dynamism, reflecting the rate of environment change; and complexity, representing the concentration and competitive intensity of an industry. Essay one investigates the moderating relationships between two types of firm capabilities, marketing capability and operations capability, and the three environmental factors. This essay finds that marketing capability, as a firm competence directly linked to external environments, has significant interactions with dynamism and complexity. High marketing capability will better utilize dynamic external conditions and achieve relatively high firm performance. In the competitive environment, marketing capability also functions more effectively. However, operations capability, because of its internal-oriented nature, has less power when facing the dynamic environment and has no significant effect in the complex environment. The second essay builds a link between an important marketing concept, marketing capability, and the current "hot topic" of finance, firm idiosyncratic risk (stock price volatility). It proposes that marketing capability may help a firm decrease its idiosyncratic risk, and further, the presence of marketing capability will moderate the relationships between two strategic drivers, operations capability and R & D intensity, and firm idiosyncratic risk. The empirical work of the second essay strongly confirms those hypotheses. Marketing capability not only reduces firm idiosyncratic risk by itself, but also helps other strategic factors to deal with firm risk. By both comparing the models in which these factors predict risk alone and those that predict return adjusted risk, essay two also finds that investors place more emphasis on salient factors such as R & D intensity to evaluate a firm. Marketing capability will also generate significant benefits for the firm when both risk and return are considered. My third essay, by using two effective econometric tools, the VAR (Vector Autoregressive Models) and the IRF (Impulse-Response Functions), examines both the long-term dynamic effects of marketing capability on a series of firm performance metrics and models the feedback effects from performance to marketing capability. Furthermore, essay three executes simulations by randomly shocking marketing capability and builds a longitudinal pattern showing how fast the effects of marketing capability will travel through the time line. As a result, it shows that marketing capability's effects on performance exhibit a "buildup and decay" pattern, in which its impacts will first increase before reaching a peak and then declining. The results of this study confirm the hypotheses that marketing capability has long-term impact on firm performance. And more importantly, this study shows that firms are learning entities that improve their capability when they observe previous bad performance
Three Essays In Operations Management
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Author : Yunxia Zhu
language : en
Publisher:
Release Date : 2012
Three Essays In Operations Management written by Yunxia Zhu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business logistics categories.
The third problem investigates the concept of Industrial Symbiosis, a resource-sharing strategy among co-located firms to engage traditionally separate industries in a collective approach that involves physical exchanges of materials, water, energy and by-products. Inspired by a real-world example of a paper-sugar symbiotic complex, we study the impact on a firm's operational decisions from implementing an industrial symbiotic system. Our focus is on understanding how the introduction of competition and nature of competition will affect the firm's "willingness" to implement the symbiotic system.
Three Essays On Operations Scheduling With Job Classes And Time Windows
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Author : Alexander Lieder
language : en
Publisher: BoD – Books on Demand
Release Date : 2016-02-05
Three Essays On Operations Scheduling With Job Classes And Time Windows written by Alexander Lieder and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-05 with Business & Economics categories.
This book contains the three scientific essays that constitute the PhD dissertation of Alexander Lieder: [1] A Dynamic Programming Approach for the Aircraft Landing Problem with Aircraft Classes (also published in: European Journal of Operational Research) [2] Scheduling Aircraft Take-Offs and Landings on Heterogeneous and Interdependent Runways (also published in: Transportation Research Part E: Logistics and Transportation Review) [3] Task Scheduling in Long-Term Care Facilities: A Client-Centered approach (also published in: Operations Research for Health Care)
Three Essays In Operations Management
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Author : Ting Luo (Ph. D.)
language : en
Publisher:
Release Date : 2016
Three Essays In Operations Management written by Ting Luo (Ph. D.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business logistics categories.
This dissertation focuses on the role of dynamic information and incentives in service and manufacturing operations, where the information for decision making is often dispersed, privately held, and evolving dynamically over time. Below we briefly summarize each problem: In the second chapter, we examine how managers in intermodal marketing companies should use dynamic forecasting to coordinate daily operations, enhance efficiency and improve profitability. The problem arises from our collaboration with Hub Groups, the largest U.S. intermodal company. The study characterizes the effects of dynamic forecasting on profitability and policy choice. When it comes to profitability, dynamic forecasting reduces the need for carrying large stockpiles for an extended time, thereby saving on holding costs. It also ensures swift stock buildups for imminent shortages. With policy choice, dynamic forecasting guides policy formulation. As a testament, a variant of our model has been implemented by Hub Groups and delivered substantial performance improvement. In the third chapter, we examine the critical role of advance supply signals—such as suppliers financial health and production viability—in dynamic supply risk management. The firm operates a multi-class demand, multi-supplier inventory system. The sales are discretionary and suppliers are susceptible to both systematic and forecasting risks. We build a hierarchical Markov model to capture both the volatility and variability of advance supply signals, and use it to coordinate replenishment and selling. We show that the optimal procurement is driven by supply diversification and intertemporal substitution, the optimal selling is driven by customer segmentation and intertemporal rationing, and that they should be synchronized with dynamic forecast for adaptive and resilient risk mitigation. Interestingly, we find that demand heterogeneity may reduce the value of discretionary selling, that meanvalue-based forecast may outperform stationary-distribution-based forecast, and that taking more information into account need to always be better. This work is among the first to analyze the interplay of forecasting, procurement, and selling, thereby identifying the coordination role of signal-based forecasting in supply risk management. In the fourth chapter, we consider how dynamic information asymmetry and stochastic learning shape the contract design in long-term outsourcing. In this two-period problem, the supplier can reduce production costs through stochastic learning, but the learning outcome is his private information. This complicates the buyer’s contracting problem substantially, as now he must adjust price and production for both periods, properly balancing the benefit of learning and the cost of motivating the supplier. We demonstrate that the buyer may downward distort production in either period for the low type supplier, and not distort the production in either period for the high type supplier. This is driven by the interplay of the learning rate, information asymmetry, and intertemporal consideration. Thus, we can rationalize many outsourcing practices that cannot be explained by the existing adverse selection literature, where downward distortion is the norm. Moreover, the static long-term contract can only substitute the dynamic long-term contract when the learning rate is not substantial.
Four Essays On The Interface Between Marketing And Operations In Supply Chain Management
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Author : Pietro De Giovanni
language : en
Publisher:
Release Date : 2010
Four Essays On The Interface Between Marketing And Operations In Supply Chain Management written by Pietro De Giovanni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business logistics categories.
This dissertation consists of four essays that contribute in the investigation of the interface between marketing and operations in supply chain management (SCM). The main motivation behind this work relate to the evolution of SCM, which goes from a mere logistics function expanded across inter-organizational boudaries to a systematic coordination and integration of traditional business functions. This evolution pushes researchers and practitioners to think about SCM as a sophisticated and complex phenomenon that needs to be further explored. This dissertation provides four essays and each of them carries out specific motivations and addresses price issues. The first essay empirically investigates which business function, between marketing and operations, contributes the most to firm's corporate performance in SCM. On the other hand, the research provides prescriptive insights to managers on how to boost the effectiveness of SCM on corporate performance when focusing either on operations or on marketing activities while adopting specific managerial levers. The second essay draws a detailed map identifying the current research gaps to be eventually filled. It elaborates information from 108 papers published over the last thirty years and provides the ongoing research directions to be undertaken by future studies investigating the interface between marketing and operations in SCM. The third essay introduces a differential game of marketing and operations modeling both vertical coordination and horizontal SC competition. It highlights the interfaces between marketing and operational strategies in a context of symmetric competition. The main result concerns the effect of coordination on competition. When the SCs are not coordinated, competition is played only by price. Conversely, When the SCs are coordinated, competition is played on both pricing and advertising. Coordination intensifies SC competition and turns out to be economically ineffective. The last essay shows the advantages of integrating marketing and operational strategies in an atypical supply chain(e.g., closed-loop supplay chain) where economic, environmental and social issues occur simultaneously. The main result concerns the effectiveness of coordination and the additional knowledge supplied when having dynamic returns to better understand the interfaces between marketing and operations. Summarizing, this dissertation shows the evaluable research findings obtainable when a complex phenomenon like SCM is analyzed from different persepctives, such as marketing and operations. Future research in the domain of SCM should pay more attention to the interfaces and the integration between business function's strategies to provide realible, complete and prescriptive managerial insights and research findings.
Perspectives In Operations Management
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Author : Rakesh K. Sarin
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Perspectives In Operations Management written by Rakesh K. Sarin 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 2012-12-06 with Business & Economics categories.
In the fall of 1992 a conference honoring Elwood S. Buffa was held at the Anderson Graduate School of Management of the University of California, Los Angeles. This book is a collection of the work presented at that conference. The scholars who gathered to honor El are the prominent researchers in the field of Operations Management. Their collective work published in this book represents the richness of the field and provides the reader with valuable insights into its important issues and problems. While any grouping of the articles by these distinguished scholars will be arbitrary, I have organized the book in four sections. In the first section the articles dealing with the strategic issues in Operations Management are compiled. The articles deal with continuous improvement, quality, services, supply chain management, and creating value through operations. The articles that explore the interface of Operations Management with other functional areas, e.g. engineering and marketing, are grouped in the second section. The third section of the book contains articles that attempt to model some important planning problems that arise in the management of production and operations. Some of the papers in this section provide state of the art reviews of selected topic areas. Finally, the fourth section contains articles that deal with future directions for Operations Management. The authors offer several insights into the future evolution of the field. The book begins with the keynote address given by El Buffa at the start of the conference on November 2, 1991.
Three Essays On Strategic And Organizational Uses Of Information In Marketing
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Author : Florian Zettelmeyer
language : en
Publisher:
Release Date : 1996
Three Essays On Strategic And Organizational Uses Of Information In Marketing written by Florian Zettelmeyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.