Types Of Buyers Research Articles

Willingness to pay for sheep traits and their heterogeneous effects on prices: Evidence from primary livestock markets in Ethiopia

We test the hypothesis whether levels of key traits of sheep heterogeneously affect market prices of sheep in a rural setting. Feasible generalized least squares and (un)conditional quantile regression estimations were made on a dataset of 1153 sheep transactions in two primary small ruminant markets in the Amhara region of Ethiopia. The empirical results show that animal traits affect the observed prices of sheep differently, but only partly explain the sheep price differences. Our results also reveal that in addition to animal traits, the type of buyers and seasonality of sheep marketing cause heterogeneity in the observed prices. These findings imply that targeting the animal traits demanded by the market and access to price information that enables farmers to respond to the seasonal changes in livestock markets are essential to increase the income of sheep keepers.

Bonsai's Marketing Strategy Centers on Creating Customer Value

This paper contributes to a different marketing approach on how to describe value from the customer's perspective. This research examines value-based pricing by highlighting a customer-centric approach with a focus on customer value creation to explore what this literature can convey in achieving success. The research locus is the research object of the Jombang Bonsai Community FB community which has 16,645 members. with consideration: Members of the Jombang Bonsai Facebook Community Trust; Own a bonsai plant business; Join the community for at least 2 years. The qualitative approach carried out through the data analysis technique used is the Manual Data Analysis Procedure (MDAP), from the results of interviews accompanied by triangulation of sources and theories to produce findings on customer-centred approach marketing strategies including Price Formation: Product and Services, Authorization Use, Resource Access, Benefit Claim Rights, Buyer Type, Availability, Use, Results, Economic Success. As well as Mechanism Policies: Quantity, Price Formation, Price Conditions, Price Discrimination, Product Characteristics, Customer Identity, Transaction Forms, Market Laws.

Leveraging Reviews: Learning to Price with Buyer and Seller Uncertainty

Customers can access hundreds of reviews for a single product in online marketplaces. Buyers often use reviews from other customers that share their type---such as height for clothing or skin type for skincare products---to estimate their values, which they may not know a priori. Customers with few relevant reviews may hesitate to purchase except at a low price, so for the seller, there is a tension between setting high prices and ensuring that there are enough reviews so buyers can confidently estimate their values. Simultaneously, sellers may use reviews to gauge the demand for items they wish to sell. In this work, we study this pricing problem in an online setting where the seller interacts with a set of buyers of finitely many types, one by one, over a series of T rounds. At each round, the seller first sets a price. Then, a buyer arrives and examines the reviews of the previous buyers with the same type, which reveal those buyers' ex-post values. Based on the reviews, the buyer decides to purchase if they have good reason to believe their ex-ante utility is positive. Crucially, the seller does not know the buyer's type when setting the price, nor even the distribution over types. We provide a no-regret algorithm that the seller can use to obtain high revenue. When there are d types, after T rounds, our algorithm achieves a problem-independent Õ ( T 2/3 d 1/3 ) regret bound. However, when the smallest probability q min that any given type appears is large, specifically when q min ∈ Ω( d −2/3 T −1/3 ), the same algorithm achieves a [EQUATION] regret bound. We complement these upper bounds with matching lower bounds in both regimes, showing that our algorithm is minimax optimal up to lower-order terms. This is a summary of work that won the Exemplary AI Track Paper Award at EC'24.

Strategic Incentives and the Optimal Sale of Information

A monopolist data seller offers information to privately informed data buyers. I characterize the seller’s optimal menu, which screens between two types of buyers. Buyers’ preferences for information allow the seller to extract all surplus, and the optimal menu’s features are determined by the interaction between buyers’ strategic incentives and the correlation of their private information. The seller offers perfect information to the buyer with the highest willingness to pay and partial information, which makes this type indifferent. Both experiments are informative even when buyers have congruent beliefs if they have coordination (anticoordination) incentives and their private information is negatively (positively) correlated. (JEL D21, D42, D82, D83)

Examining the relationship between pro-environmental consumption behaviour and hedonic and eudaimonic motivation

The present study examines the factors that influence the adoption of environmentally friendly products and environmentally conscious consumption by individuals. The conceptual framework incorporates environmental knowledge, perceived behavioral control, environmental concern, and perceived consumer efficacy in order to highlight the factors that contribute to environmental consciousness. Incorporating the theories of reasoned action and planned behavior, 479 participants completed structured questionnaires as part of this study. The study examined the mediating effects of hedonic and eudaimonic perspectives, in addition to the moderating effects of age and consumer attributes. Structural Equation Modeling Artificial Neural Networks (SEM ANN) were utilized for validation. Findings confirm the substantial influence of predictors from the Theory of Planned Behavior on hedonic motivation, amplifying cognitive rational processes and ultimately resulting in satisfaction and repeat product purchases. Individuals are driven by eudaimonic motivations to take part in sustainable actions, even if they have limited environmental knowledge. This reflects their deeper values of fulfillment and social responsibility. Generation Z and millennials have unique motivations that influence their decision to purchase green products. Regular buyers' hedonic motivations have a significant impact on their purchase intentions, whereas eudaimonic motivations consistently influence purchase decisions regardless of the type of buyer. The findings of the study offer significant insights for marketers of environmentally friendly products, enabling them to comprehend the aspects that impact pro-environmental considerations and successfully establish their green products as a brand.

STUDY OF EMPLOYEE SATISFACTION AT PAYTM / ONE 97

The growing use of Internet in India provides a developing prospect for online shopping. If E-marketers know the factors affecting online Indian behavior, and the relationships between these factors and the type of online buyers, and then they can further develop their marketing strategies to convert potential customers into active ones, while retaining existent online customers. This project is a part of study, and focuses on factors which online Indian buyers keep in mind while shopping online. This research found that information, perceived usefulness; ease of use; perceived enjoyment and security/privacy are the five dominant factors, which influence consumer perceptions of online purchasing. A model was developed indicating online shopping behavior and acceptance among customers in India. The model was tested with a survey sample (n=100). Factor analysis technique in SPSS was used to classify these factors which buyers keep in mind while shopping online.

STUDY OF EMPLOYEE SATISFACTION AT PAYTM / ONE 97 MASTER OF BUSINESS ADMINISTRATION

The growing use of Internet in India provides a developing prospect for online shopping. If E-marketers know the factors affecting online Indian behavior, and the relationships between these factors and the type of online buyers, and then they can further develop their marketing strategies to convert potential customers into active ones, while retaining existent online customers. This project is a part of study, and focuses on factors which online Indian buyers keep in mind while shopping online. This research found that information, perceived usefulness; ease of use; perceived enjoyment and security/privacy are the five dominant factors, which influence consumer perceptions of online purchasing. A model was developed indicating online shopping behavior and acceptance among customers in India. The model was tested with a survey sample (n=100). Factor analysis technique in SPSS was used to classify these factors which buyers keep in mind while shopping online.

Customer Satisfaction on Digital Marketing

Customer Satisfaction on Digital Marketing

SELL ME THIS ARTIFICIAL PEN: USING CHATGPT TO ENHANCE SALES ROLE PLAYS

ABSTRACT The recent popularity of ChatGPT and artificial intelligence chatbots presents both challenges and opportunities for incorporating this modern technology in the classroom. This paper introduces an activity that uses ChatGPT to help students practice their role playing sales skills. The benefits of using this AI chatbot for role play training include allowing students to practice when it’s convenient and have the ability to react to a chatbot taking on personas of different buyer types. Survey results demonstrate the effectiveness of this training method for both role play training and general familiarity with ChatGPT.

Access for sale? Overlying rights, land transactions, and groundwater in California

Climate change intensifies longstanding tensions over groundwater sustainability and equity of access among users. Though private land ownership is a primary mechanism for accessing groundwater in many regions, few studies have systematically examined the extent to which farmland markets transform groundwater access patterns over time. This study begins to fill this gap by examining farmland transactions overlying groundwater from 2003–17 in California. We construct a novel dataset that downscales well construction behavior to the parcel level, and we use it to characterize changes in groundwater access patterns by buyer type on newly transacted parcels in the San Joaquin Valley groundwater basin during the 2011–17 drought. Our results demonstrate large-scale transitions in farmland ownership, with 21.1% of overlying agricultural acreage statewide sold at least once during the study period and with the highest rates of turnover occurring in critically overdrafted basins. By 2017, annual individual farmland acquisitions had halved, while acquisitions by limited liability companies increased to one-third of all overlying acres purchased. Together, these trends signal increasing corporate farmland acquisitions; new corporate farmland owners are associated with the construction, on comparable parcels, of agricultural wells 77–81 feet deeper than those drilled by new individual landowners. We discuss the implications of our findings for near-term governance of groundwater, and their relevance for understanding structural inequities in exposure to future groundwater level declines.

중소형 빌딩 특성이 매매가격에 미치는 영향분석

As times change, the factors influencing the prices of small and medium-sized buildings also change. There have been numerous studies on commercial establishments examining the impact of changes in phosphorus, but there is a lack of research on how the characteristics of small and medium-sized buildings affect sales prices. This study empirically analyzes how the characteristics of small and medium-sized buildings affect their sale prices. The findings are as follows. Small and medium-sized buildings with a large land area and high official land prices have a positive (+) effect on the sale price. Second, small and medium-sized buildings with a large floor area, as well as buildings that have violated regulations or have large floor areas (including underground floors) for space utilization, have a positive (+) effect on the sale price. However, the number of years that have passed since construction and the availability of parking have a negative (-) effect on the sale price of small and medium-sized buildings. In addition, it was found that the price of small and medium-sized buildings was affected by the type of buyer, a corporate investors had a positive (+) effect on the sale price. Therefore, small and medium-sized building investment entities should make decisions regarding acquisition, operation, and disposal while considering the characteristics of the building and the trading prices.

The groupwise-pivotal referral auction: Core-selecting referral strategy-proof mechanism

We introduce the groupwise-pivotal referral (GPR) mechanism for auctions where buyers can participate through referrals. Each buyer's type consists of a valuation and referable buyers. Unlike the second-price auction (SPA), the Vickrey-Clarke-Groves (VCG) mechanism provides referral incentives. However, VCG is not budget-feasible. In contrast, under complete information, GPR is core-selecting, implying efficiency and budget feasibility. Under incomplete information, bidders refer truthfully and have no incentive to underbid in GPR. Furthermore, GPR's ex-post revenue outperforms both VCG and SPA, not just in equilibrium but also when bidders do not use weakly dominated strategies.

How salespeople adapt communication of customer value propositions in business markets

This article explores how salespeople in business markets communicate customer value propositions (CVPs) to the different actors involved in organizational purchase decisions. As a result, the authors introduce a novel, buying-center-member-based framework of CVP adaptive communication. This framework categorizes CVP adaptive communication as an operational selling behavior among salespeople comprising three consecutive steps: (1) perceiving cues from buying-center members, (2) reacting to these cues through changes in CVP communication, and (3) addressing particular customer goals as CVP communication ends. The authors propose two complementary approaches that explain the heterogeneity in how CVP communication is adapted, building on means-end chaining and revealing that CVP adaptive communication arises from a set of 15 buying-center member perception cues. Using configurational analyses, the study reveals that salespeople identify constellations of buyer types that are consistently addressed through the same CVP communication. These configurational results indicate four buyer types: two types for whom salespeople address customers' collective value in use and two types for whom salespeople address customers' individual value in use. Generally, the study helps offer a new understanding of value communication rooted in an outside-in perspective on the CVP that considers customers as external triggers of CVP communication changes.

A Heterodox Approach to Masstige: Brand Fetishism, Corporate Pricing, and Rules of Consumer Choice

Masstige, or luxury for the masses, is a phenomenon that requires a heterodox economic approach based on Original Institutional Economics view of corporate power combined with Marxian concept of brand fetishism and post-Keynesian theories of pricing and consumer choice. The attitude toward luxury in classical works on political economy is briefly outlined. By applying the post-Keynesian theory of oligopolistic pricing, we show how the power of luxury brands enables high profits of luxury conglomerates. We use the post-Keynesian theory of consumer choice to differentiate between various types of masstige buyers. JEL Classification: B52, D11, D21, D43

Optimal nonlinear pricing by a monopoly with smooth ambiguity preferences

This paper examines the optimal nonlinear pricing by a monopolist who has smooth ambiguity preferences and sells a single good to two types of buyers with high and low valuation. Ambiguity arises from the monopolist’s uncertainty about which of the subjective beliefs govern the unobserved types of buyers. We show that the prevalence of ambiguity aversion distorts the rent extraction-efficiency tradeoff under asymmetric information in the standard model. Specifically, the ambiguity-averse monopolist acts in a pessimistic manner with the perception that buyers are less likely to have high valuation than the objective beliefs. Compared with the standard model, low valuation buyers consume a less downward distorted quantity and high valuation buyers enjoy a greater information rent. The unit prices paid by all buyers are reduced and the ambiguity-averse monopolist earns a smaller expected profit.

Understanding the first-offer conundrum: How buyer offers impact sale price and impasse risk in 26 million eBay negotiations

How low is the ideal first offer? Prior to any negotiation, decision-makers must balance a crucial tradeoff between two opposing effects. While lower first offers benefit buyers by anchoring the price in their favor, an overly ambitious offer increases the impasse risk, thus potentially precluding an agreement altogether. Past research with simulated laboratory or classroom exercises has demonstrated either a first offer's anchoring benefits or its impasse risk detriments, while largely ignoring the other effect. In short, there is no empirical answer to the conundrum of how low an ideal first offer should be. Our results from over 26 million incentivized real-world negotiations on eBay document (a) a linear anchoring effect of buyer offers on sales price, (b) a nonlinear, quartic effect on impasse risk, and (c) specific offer values with particularly low impasse risks but high anchoring benefits. Integrating these findings suggests that the ideal buyer offer lies at 80% of the seller's list price across all products-although this value ranges from 33% to 95% depending on the type of product, demand, and buyers' weighting of price versus impasse risk. We empirically amend the well-known midpoint bias, the assumption that buyer and seller eventually meet in the middle of their opening offers, and find evidence for a "buyer bias." Product demand moderates the (non)linear effects, the ideal buyer offer, and the buyer bias. Finally, we apply machine learning analyses to predict impasses and present a website with customizable first-offer advice configured to different products, prices, and buyers' risk preferences.

Taxing sugar‐sweetened beverages: A nonlinear pricing approach

AbstractTaxation is frequently implemented to discourage the consumption of sugary beverages. Despite their popularity, little is known about the impacts of taxes when sellers practice price discrimination. To address this issue, we use a standard nonlinear pricing model with one product and two buyer types to study the effects of taxation on (i) consumption, (ii) consumer and producer surpluses, and (iii) the seller's choice of market segmentation scheme. We find that a tax would lead to reductions in consumption, consumer surplus, and expected profit. Additionally, the measure increases the likelihood that the sellers would exclude buyers with low preferences for the beverage to exclusively serve buyers with high willingness to pay for the product.

Farmer–buyer relationships and sustainable agricultural practices in the food supply chain: The case of vegetables in Chile

AbstractThis study investigates how the relationship between farmers and buyers affects the adoption of sustainable agricultural practices (SAPs) in the vegetable sector in Chile. Specifically, we focus on the dyadic relationships between farmers and different types of buyers, including besides lead firms, intermediaries, and wholesalers, which have received little attention in the scientific literature. Our analysis focuses on formal and informal contracts as governance forms between farmers and buyers, and explores the correlation between contract provisions (e.g., quality, quantity, and the provision of services), relationship attributes (i.e., satisfaction, trust, and opportunism) and adoption of SAPs. We gathered survey data from 352 vegetable farmers in Chile and employed analysis of variance and logit modeling for our analysis. Our findings indicate that small‐scale farmers primarily engage with intermediaries using informal contracts, while medium‐scale farmers trade with wholesalers through spot markets, and large‐scale farmers with lead firms using formal contracts. We also found that farmers who traded through informal contracts, mainly with intermediaries, reported greater satisfaction in the farmer‐buyer relationship than farmers trading through formal contracts. However, farmers engaging in informal contracts were less likely to adopt SAPs than farmers trading through formal contracts. Our results suggest that the governance form (contracts or spot market) adopted for the relationship between farmers and buyers influences the adoption of SAPs, while the impact of relationship attributes on SAP adoption is less clear. A deeper understanding of buyers and their relationship with farmers is essential to enhance policies encouraging SAP adoption in regional and local fresh food supply chains. [EconLit Citations: Q13, Q15, Q56].

OPTIMAL PAYMENT CONTRACTS IN TRADE RELATIONSHIPS

AbstractIn buyer–seller relationships, offering trade credit to buyers fosters long‐term collaboration but seller provision varies systematically as relationships evolve. We study the optimal provision dynamics of trade credit when the seller's information about the buyer is incomplete. We show how the interaction of self‐enforcing relational contracts and formal contracts determines optimal payment contract choice. We find that payment contracts can be interpreted as screening technologies and imply distinct learning opportunities about the buyer's type. In line with empirical evidence, the model predicts that all transitions between payment terms lead to seller trade credit provision in the long run.

Beyond luck: The key to profitable residential real estate investments for individual investors in Türkiye

Individual residential investors are influenced by the media and their environment in their investment preferences, as they lack the experience of property investors and professional residential investors. Concerns about regret, fears of further property price rises and social circumstances put pressure on investors. Under these conditions, are individual housing investors seeing all the opportunities in the housing market? What types of buyers are taking advantage of these opportunities? This study aims to create tools to help individual residential investors identify opportunity periods in the market, analyse such opportunities retrospectively and test consumer behaviours in response to these opportunities. We analysed the opportunity for access to housing, the opportunity of lower loan interest rates and the opportunity of lower housing prices in Türkiye in the 120 months between 2013 and 2022 using the income-housing price scale. We analysed residential sales (total, credit and cash) in the opportunity periods resulting from the equations set up for the opportunity periods. We tested the criteria for selecting opportunity periods using the analysis of variation (ANOVA) method. We analysed changes in consumer preferences for credit and cash home purchases during periods of opportunity. We found that residential investors did not use the opportunity of accessing residential properties, and that cash home buyers used the opportunities of residential loan interest rates and residential price declines. We analysed changes in consumer preferences for credit and cash home purchases during periods of opportunity. We found that residential investors did not use the opportunity of accessing residential properties, and that cash home buyers used the opportunities of residential loan interest rates and residential price declines.