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Is the Simple Price Premium that Simple? 简单价格溢价有那么简单吗?
Q4 Business, Management and Accounting Pub Date : 2018-06-01 DOI: 10.1515/roms-2018-0009
Yuying Shi
Abstract Brand equity has been a perennial topic in marketing. Among all types of measures, price premium is widely accepted due to its simple yet efficient characteristics. However, there is some disagreement regarding whether this measure captures enough facets of brand equity and whether price premium is an appropriate measure to reflect the market position of a brand. With current technique developments, more sophisticated brand equity measures have been developed. A natural question arises as to whether more sophisticated measures are better than price premium. Using large-scale national scanner data covering 47 major U.S. markets, we employ the aggregated demand model to estimate a complex brand equity measure and compare it with price premium. Our results suggest that the simple price premium is consistent with the complex measure under certain conditions. We provide managers with suggestions regarding choosing the most appropriate brand equity measures to signify their brands’ values.
品牌资产一直是市场营销中一个永恒的话题。在各种措施中,价格溢价因其简单有效的特点而被广泛接受。然而,对于这一衡量是否充分体现了品牌资产的各个方面,以及溢价是否是反映品牌市场地位的适当衡量标准,存在一些分歧。随着当前技术的发展,更复杂的品牌资产措施已经被开发出来。一个自然的问题是,更复杂的措施是否比溢价更好。利用覆盖美国47个主要市场的大规模全国性扫描仪数据,我们采用总需求模型来估计复杂的品牌资产度量,并将其与价格溢价进行比较。我们的研究结果表明,在一定条件下,简单的价格溢价与复杂的措施是一致的。我们为管理者提供关于选择最合适的品牌资产衡量标准来体现其品牌价值的建议。
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引用次数: 1
Unauthorized Use of Famous Brands and Its Impact on Brand Equity Dimensions 未经授权使用知名品牌及其对品牌资产维度的影响
Q4 Business, Management and Accounting Pub Date : 2018-06-01 DOI: 10.1515/roms-2019-0005
Washington Macías, Julio Cerviño
Abstract The aim of this study is to analyze the effect of unauthorized use of famous brand names on their brand equity dimensions. In addition, we explored the moderation effect of similarity between the unauthorized brand (junior brand) and the famous brand. An experimental design with four real famous brands and sixteen fictitious junior brands was applied to 617 undergraduate students from a large university in Ecuador. Hypotheses about the effect on brand equity dimensions and overall brand equity construct were tested using structural equation models. Results showed that awareness of a famous brand was not diluted by consumers’ exposure to junior brands. However, associations, perceived quality, loyalty and an overall construct of brand equity were diluted. There was evidence that similarity between famous and junior brands attenuated dilution. Therefore, considering that brand equity dimensions have desirable consequences on consumer behavior and firm value, this paper’s results highlight the importance of protecting brands against unauthorized use.
摘要本研究旨在分析未经授权使用知名品牌对其品牌资产维度的影响。此外,我们还探讨了未授权品牌(初级品牌)与知名品牌之间相似度的调节作用。采用4个真实知名品牌和16个虚构小品牌的实验设计,对厄瓜多尔一所大型大学的617名本科生进行实验。采用结构方程模型对品牌资产维度和整体品牌资产结构的影响进行假设检验。结果表明,消费者对知名品牌的认知并未因对小品牌的了解而减弱。然而,联想、感知质量、忠诚度和品牌资产的整体结构被稀释了。有证据表明,名牌和小品牌之间的相似性减弱了稀释效应。因此,考虑到品牌资产维度对消费者行为和企业价值具有理想的影响,本文的结果强调了保护品牌免受未经授权使用的重要性。
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引用次数: 4
Transaction Utility of End-User Pirates – An Analysis 最终用户盗版的交易效用分析
Q4 Business, Management and Accounting Pub Date : 2018-06-01 DOI: 10.1515/roms-2018-0042
P. Basu, Tanmoyee Banerjee
Abstract The present study hypothesized the concept of transaction utility that consumers receive from end-user piracy and assumes that it is positively associated with the difference between the price of original good and cost of copying the pirated product. We assume two groups of consumers – one enjoying transaction utility from piracy and the other not enjoying the same. The results show that a monopolist producing information-goods will adopt a low-price low-quality strategy in presence of transaction utility. An increase in the quality of the pirated product will also induce the firm to continue with the low-price–low-quality strategy. However, an increase in the proportion of the consumers not receiving transaction utility from piracy will increase the price and quality of the original good. In addition, with an increase in the average and marginal willingness-to-pay parameter of the consumers, the price, quality and profit of the original good will increase. The expected piracy rate is observed to be decreasing in transaction utility parameter when the upper boundary of willingness-to-pay parameter of the consumer is below a critical level.
摘要本研究假设了消费者从最终用户盗版中获得的交易效用的概念,并假设它与原始商品的价格和复制盗版产品的成本之间的差异呈正相关。我们假设两组消费者——一组享受盗版带来的交易效用,另一组则不享受同样的效用。研究结果表明,在存在交易效用的情况下,生产信息产品的垄断者会采取低价低质的策略。盗版产品质量的提高也会促使公司继续采取低价低质的策略。然而,没有从盗版中获得交易效用的消费者比例的增加将提高原始商品的价格和质量。此外,随着消费者平均和边际支付意愿参数的增加,原始商品的价格、质量和利润都会增加。当消费者的支付意愿参数的上限低于临界水平时,预期盗版率在交易效用参数中下降。
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引用次数: 0
Transaction Utility and Quality Choice 交易效用和质量选择
Q4 Business, Management and Accounting Pub Date : 2017-08-06 DOI: 10.2139/ssrn.2595754
S. Sajeesh, Sangyoung Song
Abstract This paper uses a game-theoretic model to examine the role of reference price for firms that vary in their quality positioning in competing for customers. Reference prices provide consumers with additional components of utility. Building on previous research on the impact of consumer decision making on firm strategies, we focus on how firms choose their positioning when consumer utility is driven not only by acquisition utility but also by the transaction utility associated with the purchase and how this, in turn, affects firms’ pricing decisions and profits. Considering a competition between two firms, this paper shows that the firm with higher product quality provides greater discounts to consumers. We also show that when firms are allowed to set a high ‘regular’ price, product differentiation is greater between the firms, and price competition is less intense. Furthermore, under some conditions, the profits of both firms can be higher than the benchmark case (when the effects of transaction utility are ignored).
摘要本文使用博弈论模型来检验参考价格在不同质量定位的企业争夺客户中的作用。参考价格为消费者提供了额外的实用组件。在先前关于消费者决策对企业战略影响的研究基础上,我们重点关注当消费者效用不仅由购买效用驱动,而且由与购买相关的交易效用驱动时,企业如何选择自己的定位,以及这反过来如何影响企业的定价决策和利润。考虑到两家公司之间的竞争,本文表明,产品质量越高的公司向消费者提供的折扣越大。我们还表明,当允许企业设定高的“常规”价格时,企业之间的产品差异更大,价格竞争也不那么激烈。此外,在某些条件下,两家公司的利润都可能高于基准情况(当忽略交易效用的影响时)。
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引用次数: 3
Strategic Remanufacturing under Competition 竞争环境下的战略再制造
Q4 Business, Management and Accounting Pub Date : 2017-03-01 DOI: 10.1515/roms-2019-0019
Zhongwen Ma, A. Prasad, S. Sethi
Abstract We investigate firms’ remanufacturing strategies for the case of a duopoly. On the one hand, remanufactured products cannibalize sales of new products of the same firm thereby hurting its profits. On the other hand, they can be part of a profitable marketing strategy that targets different customer preferences by providing a larger number of alternatives to customers. This paper studies the tradeoff between these effects and how it is influenced by competition. We develop a model where demand functions for new and remanufactured products of each firm are derived from utility maximization by a representative consumer. This allows us to capture preference and substitution effects between all offered products in the market. We discuss how equilibrium strategies are affected by factors such as competition, substitutability, production cost as well as remanufacturing cost. For example, when competitive intensity between new and new products, and remanufactured and remanufactured products, is (high), both (neither) firms offer remanufactured products in a symmetric equilibrium. If substitution between new and remanufactured products of the same firm is low, but the remanufactured product has a lower margin than the new product, firms can be worse off from remanufacturing.
摘要在双寡头垄断的情况下,我们研究了企业的再制造策略。一方面,再制造产品蚕食了同一公司新产品的销售,从而损害了其利润。另一方面,它们可以成为盈利营销战略的一部分,通过向客户提供更多的替代品来针对不同的客户偏好。本文研究了这些影响之间的权衡,以及它如何受到竞争的影响。我们开发了一个模型,其中每个公司的新产品和再制造产品的需求函数来自代表性消费者的效用最大化。这使我们能够捕捉市场上所有产品之间的偏好和替代效应。我们讨论了竞争、可替代性、生产成本以及再制造成本等因素对均衡策略的影响。例如,当新产品和新产品、再制造产品和再制造产品之间的竞争强度(高)时,两家(都不是)公司都在对称均衡中提供再制造产品。如果同一企业的新产品和再制造产品之间的替代率较低,但再制造产品的利润率低于新产品,那么企业的再制造情况可能会更糟。
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引用次数: 2
Household Grocery Budgets—An Empirical Examination of Allocation Changes Due to Household Demographics 家庭杂货预算——家庭人口结构对分配变化的实证检验
Q4 Business, Management and Accounting Pub Date : 2017-01-01 DOI: 10.1515/roms-2016-0037
Giles D'souza, A. Tariq, A. Allaway
Abstract The authors empirically examine changes in household grocery budget allocation using IRI panel data for 2001, which track more than 4,000 panel households’ specific purchases of 31 product categories across supermarkets and drug stores, while recording total purchases for all other categories. They then use an almost ideal demand system (AIDS) model to measure the impact of household demographics on grocery budget allocation over the 31 product categories. The household demographic variables used include marital status, presence of children including small children, occupation, household size, age, and other demographics, while also using grocery-specific variables—total grocery spending, prices, and total grocery shopping frequency. They find household demographics especially occupation and family variables, do affect grocery budget allocation, and that their effect is exercised much more through prices than through the total grocery budget.
作者利用2001年IRI面板数据对家庭杂货预算分配的变化进行了实证研究,该数据跟踪了4000多个面板家庭在超市和药店的31种产品类别的具体购买情况,同时记录了所有其他类别的总购买情况。然后,他们使用一个近乎理想的需求系统(AIDS)模型来衡量家庭人口统计对31种产品类别的杂货预算分配的影响。所使用的家庭人口变量包括婚姻状况、是否有小孩、职业、家庭规模、年龄和其他人口统计数据,同时还使用了食品杂货特定的变量——食品杂货总支出、价格和食品杂货总购物频率。他们发现,家庭人口统计数据,尤其是职业和家庭变量,确实会影响杂货预算分配,而且它们的影响更多地是通过价格而不是通过杂货总预算来实现的。
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引用次数: 0
Spillovers in Attribute Advertising 属性广告的溢出效应
Q4 Business, Management and Accounting Pub Date : 2016-06-01 DOI: 10.1515/roms-2014-0020
Steven Schmeiser
Abstract When firms advertise a vertically differentiated product attribute, they increase the weight consumers put on that attribute. This creates a spillover effect as one firm’s advertising can increase demand for other firms that also have the attribute. I develop a market share attraction model and find that as spillover increases, firms advertise less. Profit can be increasing or decreasing in spillover depending on the particular industry environment. Spillover lends a “public good” quality to advertising and firms free-ride in equilibrium. An advertising ban has an ambiguous effect on the profits of firms with the attribute, but always increases profits of firms without the attribute.
当企业对垂直差异化的产品属性进行广告宣传时,会增加消费者对该属性的重视程度。这就产生了一种溢出效应,因为一家公司的广告可以增加对其他具有该属性的公司的需求。我开发了一个市场份额吸引模型,并发现随着溢出效应的增加,企业的广告投放减少了。根据特定的产业环境,利润的外溢可以增加也可以减少。溢出效应给广告和公司带来了一种“公共产品”的性质,使它们在均衡中搭便车。广告禁令对具有该属性的企业的利润影响不明确,但对不具有该属性的企业的利润总是增加的。
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引用次数: 3
A Monte Carlo Study of Design Procedures for the Semi-parametric Mixed Logit Model 半参数混合Logit模型设计过程的蒙特卡罗研究
Q4 Business, Management and Accounting Pub Date : 2016-01-01 DOI: 10.1515/roms-2014-0002
A. Falke, H. Hruschka
Abstract We determine efficient designs for choice-based conjoint analysis for the semi-parametric mixed logit model which captures latent consumer heterogeneity in a very flexible way. Different methods constructing one or multiple designs are tested. Additionally we apply Halton draws and determine a minimum potential design for prior draws to reduce computation times caused by accounting for latent heterogeneity of consumers. As main efficiency criteria for the construction of designs we consider measures related to D-error and entropy. As additional benchmarks we generate designs both randomly and by an approach which starts from orthogonal designs developed for linear models. We compare these alternative design procedures by simulating choices for different constellations on the basis of the semi-parametric mixed logit model. Using these simulated choices we estimate parameters of the semi-parametric mixed logit model in the next step. ANOVA with root mean squared error between estimated and true coefficient values as dependent variable shows that performance of design procedures depends on dissimilarity and segment size. Following a mean-standard deviation approach we determine which procedure should be used under different constellations or lack of prior information. Overall, either constructing ten designs based on DB-error or constructing one design based on entropy turn out to be preferable.
我们确定了基于选择的半参数混合logit模型联合分析的有效设计,该模型以非常灵活的方式捕获潜在的消费者异质性。测试了构建一个或多个设计的不同方法。此外,我们应用Halton绘制并确定了最小潜在设计,以减少由于考虑消费者的潜在异质性而导致的计算时间。作为构建设计的主要效率标准,我们考虑了与d误差和熵相关的度量。作为额外的基准,我们随机生成设计,并通过一种从线性模型开发的正交设计开始的方法生成设计。我们在半参数混合logit模型的基础上,通过模拟不同星座的选择来比较这些备选设计程序。利用这些模拟选择,我们在下一步估计半参数混合logit模型的参数。以估计系数值和真实系数值之间的均方根误差为因变量的方差分析表明,设计程序的性能取决于不相似性和分段大小。根据平均-标准偏差方法,我们确定在不同星座或缺乏先验信息的情况下应使用哪种程序。总的来说,基于db误差构建十个设计或基于熵构建一个设计都是可取的。
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引用次数: 2
Dynamics of Two-Sided Markets 双边市场的动态
Q4 Business, Management and Accounting Pub Date : 2016-01-01 DOI: 10.1515/roms-2015-0001
Victoria Rayskin
Abstract This paper considers a dynamical system, which models a two-sided market. I evaluate the volume of users from each side of the market as a function of time. I formulate and prove theorems describing the long-term behavior and tendency of the market. Even though I consider generic attachment functions, I obtain a concrete result, formulated in terms of properties of attachment functions. This result is followed by examples (defined by the most popular in economics attachment functions), which illustrate behavior of the two-sided markets. I also simulate some two-sided market scenarios, showing how adjustments of attachment functions can influence the users’ dynamics. The dynamical system’s approach to the study of two-sided market problem allows natural generalization to multi-sided market, where one can utilize the same technique and obtain similar results in higher dimensions.
摘要本文考虑了一个动态系统,该系统建立了一个双边市场模型。我将市场两边的用户数量作为时间的函数来评估。我制定并证明描述市场长期行为和趋势的定理。尽管我考虑的是一般的依恋函数,但我得到了一个具体的结果,用依恋函数的性质来表述。这个结果之后是例子(由经济学中最流行的依恋函数定义),说明了双边市场的行为。我还模拟了一些双边市场场景,展示了依恋功能的调整如何影响用户的动态。动态系统研究双边市场问题的方法可以自然地推广到多边市场,在多边市场中,人们可以利用相同的技术在更高的维度上得到类似的结果。
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引用次数: 0
A Multimarket Analysis of Inter-dependent Consumer Response Sensitivities 相互依赖的消费者反应敏感性的多市场分析
Q4 Business, Management and Accounting Pub Date : 2015-11-01 DOI: 10.1515/roms-2013-0013
Sudhir Voleti
Abstract We investigate variation in aggregate consumer response sensitivities to the price, promotion and distribution elements of the marketing mix across US metropolitan markets. Primarily, three questions of research interest are examined – (i) the nature of the relationship between different aggregate response sensitivities and the implications therein, (ii) the usefulness of aggregate area-wide macroeconomic indicators such as inflation, unemployment and poverty in the context of a marketing problem, and (iii) the usefulness of geo-spatial information under a distribution-free approach. Beer category sales data across 49 major US metropolitan markets are analyzed. We find a pattern of strong inter-dependence among aggregate response sensitivities that indicates the existence of distinct, non-overlapping consumer segments. This enables a characterization of metropolitan market areas at an aggregate level. Ignoring inter-dependence mis-characterizes response sensitivity in two-thirds of the markets sampled. Further, on a standalone basis, neither area-wide economic indicators nor geo-spatial information help the analysis, but in conjunction, they vastly improve model fit (by almost 40%), explained variance (by over twice), parameter significance and consequently, insight.
摘要:我们调查了美国大都市市场中消费者对价格、促销和分销要素的总体反应敏感性的变化。主要研究了三个有研究兴趣的问题:(i)不同总体反应敏感性之间关系的性质及其影响;(ii)在市场问题的背景下,诸如通货膨胀、失业和贫困等总体区域宏观经济指标的有用性;(iii)在无分布方法下地理空间信息的有用性。分析了美国49个主要城市市场的啤酒销售数据。我们发现总体响应敏感性之间存在强烈相互依赖的模式,表明存在不同的、不重叠的消费者群体。这样就可以在总体水平上对大都市市场区域进行表征。在三分之二的抽样市场中,忽略相互依赖性错误地描述了响应敏感性。此外,在独立的基础上,区域范围的经济指标和地理空间信息都不能帮助分析,但结合起来,它们极大地提高了模型拟合(近40%)、解释方差(超过两倍)、参数重要性,从而提高了洞察力。
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引用次数: 1
期刊
Review of Marketing Science
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