Pricing Tactics Research Articles

Market Expansion of Benz-Cy Enterprises Inc. on Selected Industries: Enhancement of Strategic Plan

This study assesses the potential for strategic market expansion for Benz-Cy Enterprises Inc. in the construction, real estate, and healthcare industries while considering possible obstacles and difficulties. The study utilizes a descriptive quantitative research design to carefully record and analyze the characteristics and requirements of potential clients in various industries. A total of 30 business representatives were selected for data collection using purposive sampling. Various research instruments, such as surveys and questionnaires, were employed to evaluate their inclination to purchase IT goods and their existing supplier ties. The results suggest that potential clients have a significant level of awareness and interest in Benz-Cy’s IT products. Companies in these industries are particularly inclined towards established brands such as HP and Canon. More so, this study indicates a chance for Benz-Cy to exploit competitive pricing and new product features to capture a more significant portion of the market. The results also suggest a substantial need for various IT goods, including computers, laptops, and peripherals, highlighting the significance of diversifying the product range. The report indicates that Benz-Cy Enterprises can enter new markets by improving its product offers, executing focused marketing campaigns, and prioritizing sustainability measures. Suggested measures encompass diversifying the range of items, implementing competitive pricing tactics, improving consumer interaction, and advertising environmentally friendly merchandise. These strategic measures are anticipated to strengthen Benz-Cy’s market position, reassure customers of our adaptability, and secure long-term competitiveness and expansion. Keywords: Benz-Cy Enterprise, Market Expansion, IT product

Economic valuation of open research data: A conceptual framework and methodological approach

Abstract The economic significance of open research data is widely acknowledged, yet its quantification remains challenging. This paper presents an effective valuation instrument to help stakeholders understand and evaluate the economic benefits of open research data. By conducting a scoping review and prioritizing user engagement, this study introduces a comprehensive conceptual framework for the economic valuation of open research data. The valuation is based on economic value and willingness to pay, employing the Contingent Valuation Method (CVM). It incorporates per-use models (view, download, and request) and periodic subscription models (monthly and yearly). An empirical survey was conducted at the National Basic Science Data Center (NBSDC) in China to verify this framework. Both pricing models, comprising five distinct tactics, was supported by surveyed users. Measuring economic value by views and by year was preferred, while willingness to pay by downloads and by year was considered more reasonable. Overall, the most applicable valuation approach is on a yearly basis. Through this case study at NBSDC, specific pricing tactics were identified, and the total economic value and users’ willingness to pay were assessed. This study is arguably the first to establish a conceptual framework with pricing tactics from a user perspective. This methodological approach for economic valuation of open research data provides evidence and tools for future research, policy formulation, and resource allocation in the context of open science and innovation.

Supply chain model having stochastic lead time demand with variable production rate and demand dependent on price and advertisement

In this present study, a single-manufacturer and single-retailer supply chain management model are formulated for a single product. This study specifically looks at a supply chain with variable production rate, stochastic lead time demand, and price- and advertisement-dependent demand. By incorporating these complex aspects into a model, which enables to examine their combined effects on supply chain performance, this study adds to the body of knowledge. The study reveals unique insights into the complex interplay between pricing tactics, advertising efforts, production dynamics, and the variability brought on by stochastic lead times through meticulous study and modelling. Finally, the total system profit is calculated and optimized with all the decision variables. A classical approach is performed to obtain the optimized solution of the joint profit function along with the decision variables. Two models are discussed in the study: (1) the model with normally distributed lead time demand and (2) the model with distribution-free lead time demand. The joint profit of the supply chain is found to be lesser by 1% for the normally distributed lead time demand than the distribution free pattern. The comparison of the shipment policies and the safety factors for the different distribution patterns of the lead time demand are shown. Though the huge increment in the safety factor for unknown leadtime demand distribution may help in reducing the uncertainity factor and disruptions in the supply chain, but also it may unnecessarily tie up more capital which can be invested in other sectors of the supply chain.

Analyzing Pricing Strategies: A Case Study of Deutsche Bank in the Banking Sector

This paper explores pricing strategies in the banking sector using Deutsche Bank as a case study. It discusses various strategies like premium, promotional, penetration, and skimming, considering different market formations. Deutsche Bank's specific pricing tactics are analyzed, emphasizing its customer-oriented approach and optimization through bundling and data analytics. The study underscores the importance of aligning pricing objectives with broader business goals and continuously adapting strategies to dynamic market conditions. Overall, it provides insights into effective pricing practices for growth and profitability in the banking industry.

AIRLINE PRICING: HOW AIRLINES USE PRICING STRATGEIES

Airline pricing strategies play a pivotal role in the aviation industry's revenue management. This abstract explores the intricate mechanisms behind airline pricing, delving into the fundamental principles, factors, and techniques utilized by airlines to set fares. Drawing from a combination of academic research, industry reports, and real-world examples, this abstract provides a concise overview of the dynamic landscape of airline pricing. The abstract begins by elucidating the core objectives of airline pricing strategies, emphasizing the dual goals of maximizing revenue and optimizing capacity utilization. It then delineates the key determinants that shape pricing decisions, including demand forecasting, market segmentation, competition analysis, cost considerations, and consumer behavior. Furthermore, the abstract elucidates various pricing tactics employed by airlines, such as dynamic pricing, yield management, fare differentiation, and ancillary revenue generation. It examines how advanced analytics and revenue management systems enable airlines to dynamically adjust fares in response to fluctuating demand patterns, market conditions, and competitor actions. Moreover, the abstract explores the role of distribution channels in airline pricing, highlighting the importance of direct bookings, online travel agencies (OTAs), global distribution systems (GDS), and partnerships with intermediaries. It also discusses the emergence of personalized pricing strategies, leveraging big data analytics and machine learning algorithms to tailor fares based on individual preferences and purchasing behavior. Additionally, the abstract touches upon the regulatory frameworks and ethical considerations surrounding airline pricing practices, including transparency, fairness, and consumer protection. It underscores the need for airlines to strike a balance between revenue optimization and customer satisfaction, fostering trust and loyalty among passengers. In conclusion, this abstract offer valuable insights into the complex ecosystem of airline pricing strategies, shedding light on the multifaceted interplay between market dynamics, technological advancements, and business objectives. By understanding the underlying principles and tactics of airline pricing, stakeholders can navigate the competitive landscape more effectively, driving sustainable growth and profitability in the aviation industry.

Consumer Behavior in Online Marketplaces: A Review of Recent Studies

Recent research on consumer behaviour in online marketplaces is the subject of this study, which offers a complete evaluation of the relevant research. Consumers are increasingly turning to online marketplaces as a means of discovering, evaluating, and purchasing goods and services. This is a direct result of the exponential rise of e-commerce. In this study, we explore major aspects that influence customer behaviour in online marketplaces. These elements include product selection, price tactics, user-generated content, and platform design. We do this by drawing on a synthesis of empirical data and theoretical frameworks. In addition, the purpose of this article is to investigate the influence that technology breakthroughs, such as artificial intelligence and personalised suggestions, have on the decision-making processes of consumers. This study contributes to a deeper understanding of the complex dynamics of consumer behaviour seen in online marketplaces by synthesising existing literature and finding gaps in current research. Additionally, it offers insights for companies and academics who are attempting to navigate this fast shifting field.

Pricing Strategies of Organic Products in Surkhet Valley, Nepal

This study explores the pricing strategies of organic products in Surkhet Valley, Nepal. It seeks to examine how several factors, including production costs, market demand, competitor prices, distribution costs, and overall economic conditions, interact with one another. The study uses a quantitative methodology and includes 150 participants from the Surkhet Valley of Nepal, including farmers and organic products vendors. The study uses statistical tools to analyze the data gathered, concentrating on Smart PLS-4. The study finds that there is a strong relationship between important variables such as market demand, competitor prices, distribution costs, economic conditions, production costs and the price of organic products. The results highlight how important it is for companies to keep an eye on rival pricing strategies, minimize distribution expenses, and modify price strategies in reaction to shifting market dynamics. For businesses in Surkhet Valley, Nepal, to thrive sustainably, they must improve their comprehension of the factors that affect the price of organic products. The report emphasizes how crucial it is to keep production costs under control and match pricing policies to the demands of the market. It also emphasizes how important it is to monitor rival pricing, streamline distribution procedures, and maintain flexibility when modifying price tactics. Restrictions include the sample size and the exclusive focus on Surkhet Valley, which make it dangerous to extrapolate the findings to other settings. Still, the study provides a valuable starting point for businesses looking to expand sustainably in the organic product space.

Selection of pricing tactics in a dual‐channel supply chain under demand information asymmetry

AbstractThis paper explores the differences of three pricing tactics in the dual‐channel supply chain (SC) under demand information asymmetry. The manufacturer holds confidential demand information. According to the decision sequences, three pricing tactics are considered. Specifically, the corresponding signaling games based on the three pricing tactics are analyzed under no information sharing. The results show when the confidential information is shared, the first move of retail pricing brings the positive impact on the SC members. However, under demand information asymmetry, the first move of retail pricing may not always benefit the member based on the signaling games.

Fractal dimension analysis of stock prices of selected resulting companies after mergers and acquisitions.

This study focuses on the short-run wealth of listed firms' shareholders. Currently, all of the resulting organizations offer competitive pricing tactics to create a superior environment for our ongoing establishment. Some time ago, it was noted that a merger occurred, although some functions and technology integration remained with the previous structure. In this paper, it has been discovered that merger and acquisition deals have an impact on the firm's value; in other words, we can view it as shareholders' wealth or unit depending on the stock price after the announcement of merger and acquisition deals in the short term. Furthermore, we focused on influencing variables on stock prices after the announcement of merger and acquisition transactions, which is measured as a percentage change in the stock prices of the listed resulting firms. Furthermore, this research is based on secondary data sources from reputable organizations. It primarily uses the NSE database and website to evaluate announcements and stock prices of the twenty-nine publicly traded companies. Markets respond to investors' emotions and market expertise. When acquirers have a strong market position, market capitalization rises in other segments. However, it is declining due to a lack of supportive finances. To determine the impact of merger and acquisition announcement deals on stock price changes, average abnormal return and cumulative average abnormal return with the capital asset pricing model (CAPM) (CAPM reaction to changes) were used to identify the acquiring company's stock price reaction. We investigated its impact on the fluctuation of share prices posted on stock exchanges using fractal interpolation functions. This is due to greater investment by acquirer businesses in target companies as well as investor expectations for specific stock market strongholds.

An Analysis of Competition Strategies of Note-taking App Market based on Hotelling Model Theory

Responses to COVID-19 have speeded the adoption of digital technologies by several years, resulting in flourishing Note-taking software markets. This paper studies the competition between the two most popular note-taking apps with horizontal differentiations for tablet users: Notability and GoodNotes 5. A modified Hotelling model is used where firms' persuasive advertisements will affect consumers' preferences, hence implicitly changing their location and their overall travel costs. A two-stage process is considered during firm competition when building up models. In the first stage, firms decide on the levels of advertisement of their products in the first stage, then set different prices to maximize profits. By solving this modified model and analyzing the equilibrium profits, the result shows that advertising leads to the same price tactics for the two firms. However, due to the existence of advertising strategies, firms have to bear the cost of this extra advertising competition. Therefore, both firms in the end will receive lower levels of profits compared to the standard model. Indicating that persuasive advertisement has caused Pareto inefficiency, leading to deadweight loss and reduced profit gains for the two firms.

СУТНІСНА ХАРАКТЕРИСТИКА ЦІНОУТВОРЕННЯ НА ЕЛЕКТРОПОСТАЧАЛЬНИХ ПІДПРИЄМСТВАХ

The article examines the place of electricity supply enterprises among trade enterprises in Ukraine. The importance of forming an effective pricing strategy and tactics for goods or services produced or provided by an energy industry enterprise was determined. It was revealed that the definition of the essence of pricing at electricity supply enterprises remains logically incomplete, which complicates this process. The main approaches to the interpretation of the concept of "price" and "pricing" have been studied. It is proposed to define the concept of price for electricity supply enterprises – it is a monetary reward that electricity suppliers are willing to pay to producers, which is determined on the basis of the interaction of the laws of cost, demand and supply at a specific time when an agreement is concluded between the electricity supplier and the producer. The purpose of the study is to unify and systematize approaches to determining the essence of pricing at electricity supply enterprises. In the conditions of the instability of the development of enterprises and with the strengthening of the European integration processes of the economy, there is an urgent need to ensure the continuity of activity, which may depend on the effectiveness of the price policy. The sphere of trade in Ukraine is a defining type of activity in the sphere of circulation, which is an intermediate link between the production and consumption of goods and services and ensures a balance between them. The existence of a large number of sellers determines the need to manage the pricing process at the enterprise. According to the data of the State Statistics Service of Ukraine, in the total number of economic entities of Ukraine, in recent years, the largest share belongs to enterprises of wholesale and retail trade. A separate segment of trade enterprises are electricity supply enterprises that provide exchange on the electric energy market and have been operating in Ukraine for a while now. In the conditions of the market economy, for the efficient and profitable operation of the enterprise, it is necessary to choose the most effective strategy and pricing tactics for the goods or services that the enterprise produces or provides.

Psychological pricing: Myth or reality? The impact of nine-ending prices on purchasing attitudes and brand revenue

Price is the variable through which the value proposition of brands is monetize, therefore, it is the driver that guarantees the sustainability and profitability of companies. Among different psychological pricing tactics that exist, prices ending in nine are the most accepted and used by practitioners as a strategy to penetrate markets; but this strategy should be carefully revised and applied as it is context dependent and has differential effects among categories and types of brands. Drawing on the importance of psychological pricing, the extended use of nine-ending prices and the identified need of a better understanding, this study validates the impact of such prices on the purchasing attitudes of consumers and the differentiated effect on revenue, among various brands and product categories, finding that this tactic significantly affects consumers' purchasing attitudes and brands’ revenue levels, but to a different extent, depending on the product category, the brand positioning and preference.

Pricing strategy in strategic enterprise management

The purpose of the article is to determine the features of the pricing strategy that affects the effectiveness of enterprise management. The research methodology is based on the use of general scientific and specific methods, in particular: analysis and synthesis, induction and deduction, modeling, systematization and generalization. The scientific novelty of the obtained results lies in the substantiation of the pricing policy of the enterprise, which is formed within the general strategy of the enterprise and includes the pricing strategy and pricing tactics. The article defines that in general the company’s strategies are developed at four different organizational levels: corporate, business, functional and operational. It is determined that the pricing strategy should take into account the needs of consumers and ensure long-term satisfaction of these needs through the optimal combination of internal strategy of the enterprise and the parameters of the external environment in the long-term marketing strategy. It was found that the pricing policy is implemented through pricing strategies. The efficiency of the pricing policy of enterprises is studied, which largely depends on the principles used during its formation. Conclusions. Pricing is one of the most complex and responsible sections of management. Currently, a significant number of entrepreneurs do not fully possess the theoretical and practical knowledge of the complex pricing mechanism for goods and services. As a result, in the process of entrepreneurial activity serious miscalculations are allowed in substantiating the price level, which affects the final financial results, in some cases leads to significant losses and sometimes to bankruptcy of the enterprise. Key words: price, pricing, strategy, pricing strategy, pricing management, pricing principles.

Service Pricing In Bulgaria

The article aims to find out how companies operating in Bulgaria determine the prices of their services. In this regard, a review is carried out of the theoretical and empirical research on service pricing, and the results are presented from an online survey including 100 managers/marketing directors of companies that operate in Bulgaria and offer services. The article establishes the pricing factors of substantial importance for the companies in the sector of services, the most common pricing objectives, as well as which pricing strategies, methods and tactics are applied. In addition, the most common reasons for price increase or reduction are considered.

Emotion and pricing

Psychological pricing is a pricing strategy that utilizes specific techniques to form a psychological or subconscious impact on consumers. It integrates sale tactics with price. Most psychological pricing tactics simplify the decision-making process for consumers. Gauging a target market’s emotional responses to an item is known as psychological pricing. What is psychological pricing? Simply, it is a slick way to increase sales without significantly reducing prices.

Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices

This study aims to explore whether wine CI (Collective Intelligence) platforms, such as Wine Spectator and Wine Enthusiast, can provide a wine rating effect on price, as Robert Parker’s does in the Korean wine market. To achieve the purpose of the study, we collected information with wine evaluation ratings and on-premise prices from three wine evaluation sites and seven restaurants in South Korea. The researchers calculated the Pearson’s rho between the wine evaluation ratings and on-premise prices based on country, region, vintage, and type of wine. Based on the results of the study, the CI of wine ratings shows statistically the same association degree to price as wine guru Robert Parker’s score. This study can academically extend the research of CI’s application in the wine industry and provide strong support for a sustainable e-business model and pricing tactics in the wine industry.

What do customers want? The impact of pricing tactic persuasion knowledge and frequency of exposure

PurposePrevious research has shown that consumers prefer a bonus pack to a price discount for virtue foods, whereas they prefer a price discount to a bonus pack for vice foods. Acting as a guilt-mitigating mechanism, a price discount justifies consumers' purchasing behavior, allowing them to save money and consume less vice foods. However, for virtue foods, neither the anticipated post-consumption guilt nor the resulting need for justification lead consumers to prefer a bonus pack to a price discount. This study investigates whether product promotions remain effective with other moderating variables.Design/methodology/approachThe authors use pricing tactic persuasion knowledge (PTPK), which refers to the consumer persuasion knowledge of marketers' pricing tactics, as a lens to understand whether the power of these promotions could be enhanced or mitigated. The authors inferred that increasing the frequency of exposure to these foods could positively influence consumers' purchasing choices. They conducted three studies to examine these effects. In Study 1, using pearl milk tea (vice food) and sugar-free tea (virtue food), the authors contended that consumers would prefer a price discount when purchasing pearl milk tea, but a bonus pack when purchasing sugar-free tea. In Studies 2 and 3, the authors varied the participants' frequency of exposure to photographs of people in everyday situations with vice (virtue) foods.FindingsIn Study 1, PTPK was shown to be more predictive of consumer choices regarding price discounts and bonus packs. In Studies 2 and 3, the authors contended that increased exposure to vice (virtue) foods increases the selection of vice (virtue) foods by participants who were unaware of having been exposed to vice (virtue) foods.Originality/valueThis research has not only made quite managerial and policy implications for marketing but also brought the theoretical contributions for marketing researches. This research demonstrates that either for vice foods or virtue foods, a price discount is preferred to a bonus pack.

Unit pricing for multiple product sizes: identifying moderators and mediators of consumer evaluations

Purpose This paper aims to investigate the underlying process by which a brand’s unit pricing for multiple package sizes influences consumer evaluations by incorporating several mediators and moderators. Two-unit pricing tactics were examined: quantity discounts and surcharges. Design/methodology/approach Two online experiments were conducted to test the hypotheses. Study 1 examined the mediating role of consumers’ inferred motive for sellers in setting quantity discounts or surcharges in the relationship between the pricing tactics and consumer evaluations. Study 2 incorporated affect as a mediator, and price consciousness and unit price usage as moderators in this relationship. Findings The mediating role of inferred motive is supported. Motive is related to the sales volume. Furthermore, this mediation effect is more potent when consumers have stronger quantity discount belief. Further, the mediating role of affect is supported. It is more salient when consumers are frequent users of unit prices. Research limitations/implications This study compared two pricing tactics and did not include a control condition. The first digit of the unit price for the small package size was different between the pricing tactics. Practical implications When applying quantity surcharges to products, it is essential to provide additional information to consumers to preclude the possibility of negative evaluations. Originality/value This study makes a significant contribution by offering a deeper understanding of consumer responses to the pricing tactics. In particular, it reveals that pricing tactics trigger both cognitive and affective responses, which then influence evaluations of the pricing tactics. This elicited cognition is associated with deduction about sellers’ brand-size pricing behavior.

ESTUDIO DE MERCADO PARA ELABORAR PLAN DE MARKETING DIGITAL AL ALMACÉN MUJER AL DÍA DEL CANTÓN JIPIJAPA

El Almacén “Mujer al Día” se dedica a la comercialización de ropa con diferentes líneas de accesorios complementándolo con un servicio personalizado. De acuerdo a los cambios constantes de la moda y a las exigencias cada vez mayores de los consumidores, se ha propuesto la elaboración de un plan de marketing con el fin de aumentar el porcentaje de ventas mediante el diseño de estrategias de mercadeo. Por consiguiente, se realizó un estudio de mercado para conocer los gustos y preferencias de los clientes y competidores a través de encuestas; se aplicaron técnicas de recopilación de datos, tales como entrevista al propietario para conocer la situación actual de la empresa. Además, se realizaron las comparaciones de ingresos y egresos de los últimos meses (Agosto, Septiembre y Octubre) para determinar las variaciones del volumen de ventas. Según estadísticas sobre preferencias de consumo, uno de los motivos por los cuales el negocio ha perdido su posicionamiento de mercado, fue por la escasa publicidad e insuficiente mercadería para abastecer la demanda, por lo tanto, se realizó un análisis FODA en el que se determinó las fortalezas, oportunidades, debilidades y amenazas del negocio, herramienta que sirvió de guía para el diseño de tácticas de producto, promoción, plaza y precio con el fin de ampliar la cobertura de mercado.

Price determinants and classification of tactical pricing decisions in the cruise industry

ABSTRACT Pricing strategies and tactics and itinerary design are some of the most important decisions faced by cruise companies in order to maximize their profits. This research aims both at analyzing factors that determine the price of a cruise package and at classifying cruise companies according to their pricing tactical decisions. In order to do so, we have gathered more than 84,000 cruise prices corresponding to around 9,200 departures for 2019, which belong to eight of the most important cruise companies. This paper combines two methodologies. On the one hand, hedonic regressions, which are commonly used in the tourism industry in order to identify factors affecting prices. On the other hand, cluster analysis, which allows us to classify cruise companies’ pricing tactical decisions. The results obtained allow us to conclude that a few factors are able to explain more than 76% of the variance of the price: number of nights, type of cabin, month of departure, destination, cruise company and ship rating. Another relevant contribution of this paper is the definition of three clusters when analyzing tactical pricing decisions for cruise companies jointly and eight clusters when the analysis is carried out with ships.