Search results

1 – 10 of over 80000
To view the access options for this content please click here
Article

Yi Qu, Zhengkui Lin and Xiaonan Zhang

The purpose of this paper is to research the price strategies of online knowledge payment product by considering network externality in the C2C sharing economy.

Abstract

Purpose

The purpose of this paper is to research the price strategies of online knowledge payment product by considering network externality in the C2C sharing economy.

Design/methodology/approach

Considering the characteristics of online knowledge goods and the social network externality of consumers, this study establishes a consumer utility function. On this basis, a multistage game pricing model of online knowledge products is established based on three kinds of network price strategies under a completely competitive market structure. It also analyzes the influence of consumer social network structure and consumer utility on online knowledge product pricing and producer profit, as well as the influence of consumer quantity and discount rate on pricing strategy.

Findings

The consumer social network and consumer utility affect the pricing of online knowledge product under different price strategies. In the growth period of the platform, adopting the price discrimination strategy, the profit of producers is significantly higher than that of other price strategies, and producers should choose effective price strategies for reasonable pricing in combination with their own sales objectives.

Originality/value

This study enriches the literature on the pricing model of online knowledge payment product and owns a practical significance to guide the knowledge producers’ marketing strategies to increase profit.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

To view the access options for this content please click here
Article

Ngoc Minh Nguyen and Huyen Thi Nguyen

The aim of this paper is to incorporate the theoretically and practically appropriate affecting factors of customers’ price acceptance to develop an integrated model…

Abstract

Purpose

The aim of this paper is to incorporate the theoretically and practically appropriate affecting factors of customers’ price acceptance to develop an integrated model explaining customers’ price acceptance on the mobile phone market in Vietnam.

Design/methodology/approach

This current research applied the cross-sectional design. Data was collected via questionnaires and 605 responses were left after refining. The exploratory factor analysis, confirmatory factor analysis and structural equation modeling methods were applied to analyze the collected data.

Findings

Prestige sensitivity and product involvement positively affect product knowledge and price mavenism. In turn, these two latter factors together with prestige sensitivity positively affect price acceptance. Besides, product knowledge and price mavenism mediated the effects of product involvement and prestige sensitivity on price acceptance in the context of complex products, rapid product innovation, social setting of using mobile phones, highly competitive market, the low purchasing power of customers and the typical cultural values of Vietnam.

Practical implications

The high product involvement and high prestige sensitivity customers could make up attractive market segments, especially important in the case of launching new products; concentrating marketing efforts on building product knowledge and price knowledge for these market segments may enhance price acceptance, speed up market penetration as well as improve price communication.

Originality/value

This is one of the first studies explaining price acceptance on the mobile phone market in Vietnam and clarifying the mediating effects of knowledge (product knowledge and price mavenism) on the causal relationships between product involvement/prestige sensitivity and price acceptance.

Details

Journal of Asia Business Studies, vol. 14 no. 3
Type: Research Article
ISSN: 1558-7894

Keywords

To view the access options for this content please click here
Article

Heiner Evanschitzky, Peter Kenning and Verena Vogel

Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo‐American literature. In Germany…

Abstract

Price knowledge as a construct has been one of the top behavioral pricing themes in the last four decades, especially in the Anglo‐American literature. In Germany, scientists have paid relatively little attention to this topic during the last 15 years – with some notable exceptions. Therefore, this study analyzes German consumers' price knowledge and, by doing so, replicates and extends existing international work. After reviewing earlier attempts at assessing the construct, a measure is developed for the price estimation error “PEE”, based on explicit price knowledge stored in long‐term memory. Results, including data from about 1,000 consumers on 69 products from a German retail chain, indicate that price knowledge in Germany is relatively low. Based on that observation, implications for the management are discussed.

Details

Journal of Product & Brand Management, vol. 13 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

To view the access options for this content please click here
Article

Coralie Damay, Nathalie Guichard and Amélie Clauzel

– This research aims to evaluate young consumers’ knowledge of everyday product prices. Despite a large body of research on the child as consumer, few studies examine price.

Abstract

Purpose

This research aims to evaluate young consumers’ knowledge of everyday product prices. Despite a large body of research on the child as consumer, few studies examine price.

Design/methodology/approach

The study employs a quantitative methodology and administered questionnaires that target a sample of 224 primary school French children.

Findings

The various employed measures help shed light on the pricing aspect of children’s consumption processes. In particular, the results show that although price recall is relatively weak, children become familiar with the order of price magnitudes and classify products according to their price level.

Research limitations/implications

A future research could integrate that the children should be affected by internal reference price in the various tasks. Future studies could introduce other variables in the tests, such as children’s commercial experience and their experience with the stores they know.

Practical implications

Firms should adapt their pricing strategies to the expectations of children, not only adults or parents, both for the products that directly pertain to them and for those they might recommend. This research offers managers additional insights into how to communicate about prices, taking into account current customer heterogeneity.

Originality/value

Realized measurements reflect children’s capacities to react to the prices of mass-consumed goods and clarify whether the child is able to identify or reduce his consideration set among some alternatives of choice according to his price knowledge level.

Details

Young Consumers, vol. 15 no. 2
Type: Research Article
ISSN: 1747-3616

Keywords

To view the access options for this content please click here
Article

Tong Yin and Audhesh K. Paswan

This research paper aims to examine the relationships among the factors associated with changing shopping environment, consumer knowledge and reference price.

Abstract

Purpose

This research paper aims to examine the relationships among the factors associated with changing shopping environment, consumer knowledge and reference price.

Design/methodology/ approach

A self administered online survey was used to collect data (final sample size was 265). After checking for non‐response bias, data was factor analyzed and checked for reliability and validity. Hypotheses were tested using structural Equation Modeling procedure.

Findings

Product search opportunity is associated with product and price knowledge. Price volatility is negatively associated with internal reference price. Further, consumers' price comparison propensity and price knowledge positively influence external reference price. Finally, price volatility has a significant negative influence on consumer knowledge and IRP orientation.

Research limitations/implications

The sampling frame is a major limitation, in addition to not including variables such as product type and other measures of price volatility. Future research should expand the sampling frame and include other variables as well as other aspects of price volatility.

Practical implications

These findings provide insights into advertised price claims in the information rich internet age. Managers also benefit from the finding that the internet, particularly price comparison, influences external reference price. Consequently, managers must be cautious with their advertised price claims and not exaggerate the value of offerings or cost savings too much.

Originality/value

This topic is important because retailers extensively use reference price or price comparison to increase consumers' perception of the product value. However, not much research attention has been given to this topic.

Details

Journal of Product & Brand Management, vol. 16 no. 4
Type: Research Article
ISSN: 1061-0421

Keywords

To view the access options for this content please click here
Article

Peter Kenning, Vivian Hartleb and Helmut Schneider

This paper aims to add insights on consumers' price knowledge in food retailing using a theory‐based multi‐method approach.

Abstract

Purpose

This paper aims to add insights on consumers' price knowledge in food retailing using a theory‐based multi‐method approach.

Design/methodology/approach

The paper provides data from one questionnaire and two experimental studies. The aim of the first study was to address price recall. To do so, data were collected on the accuracy of grocery‐shopper price knowledge for 20 carefully selected products. Using the mall intercept method, three trained interviewers queried 300 randomly selected people in the store, but prior to shopping. After a period of four weeks the subjects were contacted by phone and asked whether they would like to participate in a second two‐step experiment. A total of 105 of the original 300 shoppers agreed to take part in the second study, in which a recognition task in terms of a computer experiment was accomplished with and without financial incentives.

Findings

The results of these studies confirmed the authors' expectations, based on theoretical considerations that: the level of price recall is lower than the level of price recognition; incentives have no influence on priceknowledge in the recognition task; and priceknowledge for private labels is significantly higher in the recall, as well as in the recognition task. Moreover, in regression analyses it was found that there was no significant influence of age, gender, price‐consciousness, duration of customership, and shopping transactions per week on price recall and/or price recognition.

Research limitations/implications

The findings are limited with respect to branch, time period, and culture.

Originality/value

This paper is the first using a multi‐method approach to measure price‐recall and price‐recognition in food retailing. Moreover, it adds evidence concerning the differences of priceknowledge due to the nature of the brand. Finally, it is shown that incentives and certain demographics have no influence on priceknowledge.

Details

International Journal of Retail & Distribution Management, vol. 39 no. 5
Type: Research Article
ISSN: 0959-0552

Keywords

To view the access options for this content please click here
Article

Peter Kenning, Heiner Evanschitzky, Verena Vogel and Dieter Ahlert

The aim of this study is to analyze consumers' price knowledge in the market for apparels.

Abstract

Purpose

The aim of this study is to analyze consumers' price knowledge in the market for apparels.

Design/methodology/approach

After reviewing earlier attempts at assessing the construct, the price estimation error “PEE” was used, a measure based on explicit price knowledge stored in long‐term memory, as a valid indicator of price knowledge.

Findings

The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low.

Originality/value

Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market.

Details

International Journal of Retail & Distribution Management, vol. 35 no. 2
Type: Research Article
ISSN: 0959-0552

Keywords

To view the access options for this content please click here
Book part

Samuli Leppälä

Purpose – To show that The Sensory Order is useful for understanding Hayek's position on the informational role of prices.Methodology/approach – Hayek's psychological…

Abstract

Purpose – To show that The Sensory Order is useful for understanding Hayek's position on the informational role of prices.

Methodology/approach – Hayek's psychological theory argues that every sensation is interpreted in the light of past experience. This idea is applied to Hayek's view on the price system by arguing that, similarly, every price is interpreted in the light of local knowledge. The usefulness of this approach is tested by addressing some common mainstream interpretations.

Findings – Prices perform their informational role in interaction with local knowledge. The standard view, in which prices convey the same information to everyone, ignores the fundamental importance of local knowledge and varying interpretations.

Research limitations/implications – The paper only discusses some of the central insights given in Hayek's theory of the mind. Furthermore, implications for connected issues, such as entrepreneurship and market process theories in general, are left for subsequent research.

Originality/value of paper – While the connections between Hayek's thought in different fields and the importance of interpretation has been suggested by others, this paper contributes to the Austrian price theory and suggests the relevance of The Sensory Order to economists by making this connection more pronounced.

Details

The Social Science of Hayek's ‘The Sensory Order’
Type: Book
ISBN: 978-1-84950-975-6

To view the access options for this content please click here
Article

Pablo Farías

This study identifies the factors that affect the knowledge of mortgage loans' total cost.

Abstract

Purpose

This study identifies the factors that affect the knowledge of mortgage loans' total cost.

Design/methodology/approach

Empirical research utilizing a survey administered through in-home interviews was conducted. This study adopts the elaboration likelihood model (ELM) theory to analyze the influence of information shortcuts and borrowers' abilities and motivations on the knowledge of mortgage loans' total cost.

Findings

The results support that the use of the price–quality cue and brand credibility have negative and positive effects, respectively, on the knowledge of mortgage loans' total cost. Households' primary income earners have a higher knowledge of mortgage loans' total cost. The results also show that the household's primary income earners who are price conscious and brand nonbelievers have more knowledge of mortgage loans' total cost.

Originality/value

Price knowledge studies in financial services, especially in the mortgage loan industry, are scarce. Consequently, understanding the price knowledge level for mortgage loans and its potential antecedents has been insufficient.

Details

International Journal of Bank Marketing, vol. 39 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

To view the access options for this content please click here
Article

Changyu Wang, Jinming Mei and Jiaojiao Feng

Online-to-offline (O2O) knowledge-sharing economy platforms have emerged as a new public channel for matching up knowledge providers with knowledge seekers. It can…

Abstract

Purpose

Online-to-offline (O2O) knowledge-sharing economy platforms have emerged as a new public channel for matching up knowledge providers with knowledge seekers. It can facilitate offline provision and consumption of high-quality tacit knowledge around a topic upon online search and payment (called offline knowledge service transaction). However, limited research investigated this new knowledge-sharing phenomenon in the field of knowledge management (KM). The purpose of this paper is to enrich KM literature by developing a theoretical model to explore determinants of offline knowledge service transactions via O2O knowledge-sharing economy platforms from both quality and price perspectives.

Design/methodology/approach

The model was tested with objective data crawled from Zaihang – a leading O2O knowledge-sharing economy platform in China.

Findings

The results show that, in the context of O2O knowledge-sharing economy, transactions of an offline knowledge service are positively related to its provider’s popularity, but negatively related to the price. Moreover, knowledge seekers are more likely to accept and purchase a high-priced service of a knowledge topic with a higher overall review score and supplied by a provider with lower popularity and shorter response time. However, the length of offline knowledge service has no significant association with its transactions.

Originality/value

This study contributes to KM literature through investigating a new phenomenon of tacit knowledge sharing (including provision and consumption) in the context of O2O service and the sharing economy. The results give implications for knowledge providers and platform managers to facilitate online transactions of offline knowledge services.

Details

Journal of Knowledge Management, vol. 24 no. 8
Type: Research Article
ISSN: 1367-3270

Keywords

1 – 10 of over 80000