The influence of multi-channel pricing strategy on price fairness and customer confusion

2019 ◽  
Vol 29 (5) ◽  
pp. 504-517
Author(s):  
Laura Bertrandie ◽  
Stephan Zielke
Keyword(s):  
Pricing Strategy ◽  
Price Fairness

How should physicians set prices for individual service and team-based service in the online environment? A view from the price difference (Preprint)

2021 ◽  
Author(s):  
Wei Lu ◽  
Wei Wei ◽  
Chao Li ◽  
Qing Luo ◽  
Lichun Fan
Keyword(s):  
Virtual Teams ◽  
Negative Influence ◽  
Pricing Strategy ◽  
Online Environment ◽  
Price Difference ◽  
Price Fairness ◽  
Team Size ◽  
Medical Market ◽  
Individual Service

BACKGROUND Price which has a significant effect on consumers’ exchanging value perception plays a decisive role in the product market. Different from the traditional medical market, the online medical market allows physicians considerable discretion in setting prices of their services, which begin to be paid close attention to. Physicians face a challenge with the introduction of various service styles. Some studies have begun to examine the role of price in the online medical service environment, however, limited studies have explored them in both individual and team-based contexts. OBJECTIVE Guided by transaction utility theory and price fairness, this study aims to investigate the influence of pricing strategy on service demands from the price difference perspective by focusing on two typical service models: individual service and team-based service. Moreover, team characteristics (response speed and team size) are also considered. METHODS The data collection was conducted in March 2018 and repeated in May 2018, and physicians who provide both individual service and team-based service are included in our study. Finally, a dataset consisting of 1,100 teams with 1,100 physician leaders from 14 departments such as obstetrics and gynaecology department were collected from an online medical platform in China were included. RESULTS Empirical results support most of our hypotheses. A negative influence of team-based price has been got (β = -0.282, p < 0.000). As a substitute service, higher individual service price will make patients turn to the team-based service (β = 0.164, p < 0.000). Moreover, individual service price negatively moderates the relationship between team-based service price and demands (β = -0.036, p < 0.05). By calculating the price difference between individual service price and team-based service price, we find a negative role of the price difference in affecting patient purchase decisions (β = -0.085, p < 0.05). Although we did not find a significant effect of team size, a quick response can attract more patients (β = 0.174, p = 0.05). CONCLUSIONS Price fairness provides a proper framework for understanding pricing strategy in individual and team-based service in an online environment. Understanding the effects of prices from a price difference perspective has both theoretical and practical contributions. Specifically, this study contributes to knowledge on price fairness, online medical platforms, and virtual teams, and provides management suggestions.

A laboratory exploration for multi-period perishable food pricing

2015 ◽  
Vol 117 (9) ◽  
pp. 2214-2233 ◽  
Author(s):  
Xiaohuan Wang ◽  
Zhi-Ping Fan ◽  
Yiming Wang ◽  
Manning Li
Keyword(s):  
Laboratory Experiment ◽  
Dynamic Pricing ◽  
Nonparametric Test ◽  
Pricing Strategy ◽  
Price Fairness ◽  
Content Type ◽  
Fairness Perception ◽  
Food Retailers ◽  
Food Freshness

Purpose – The purpose of this paper is to put forward a multi-period dynamic pricing strategy for perishable food considering consumers’ price fairness perception. The impacts of the multi-period retail price, food freshness and inventory shortage risk on consumers’ heterogeneous willingness to pay (WTP) and their strategic purchasing behaviours are studied. Design/methodology/approach – The authors present a price optimization model for perishable food, and conduct a laboratory experiment to justify the theoretical model. The data collected are analysed by correlation analysis and nonparametric test. Findings – The results obtained reveal, first, food freshness and inventory shortage risk have effect on consumers’ heterogeneous WTP. Second, different retail prices lead to consumers’ strategically purchasing behaviours. Finally, consumers’ intertemporal price fairness perception and the food retailer’s long-term utility maximization can be achieved by developing multi-period dynamic pricing strategy. Practical implications – This study suggests the perishable food retailer to apply a step-by-step price markdown strategy. It aims at eliminating price unfairness perceptions caused by loss of freshness and high shortage risk of the perishable food in the subsequent selling periods within the shelf life. Some valuable managerial insights towards perishable pricing for food retailers are discussed. Originality/value – This study serves as the first step to utilize a laboratory experiment to dig out consumers’ intertemporal WTP towards perishable food. It also presents a novel way for describing consumers’ intertemporal price fairness perception by equalizing consumers’ average utilities considering consumer surplus, food freshness and shortage risk at different selling periods. The line of research on dynamic pricing concerning consumers’ price fairness perception is quite new in academic research, and has arisen due to its importance for food retailers of maximizing their long-term revenues and also of constructing mutual benefit and lasting connections with the consumers.

A Consuequence of Statisfaction and Loyalty: How Brand nd Purchase Intention Affect Its (An empirical study of Bengkulu)

2020 ◽  
Vol 7 (2) ◽  
pp. 61-70
Author(s):  
Fachri Eka Saputra ◽  
Fedyah Anggriani
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Purchase Intention ◽  
Partial Least Square ◽  
Least Square ◽  
Primary Data ◽  
Price Fairness ◽  
Online Questionnaire ◽  
Positive Effect ◽  
Descriptive Method

The purpose of this study as to determine how the effect of waterpark image and price fairness on customer satisfaction and its implications for customer loyalty at Waterpark Wahana Surya Bengkulu. The measurement of this study uses 14 indicator items which are distributed using an online questionnaire. The number of samples in this study were 136 respondents and the data were analyzed using SEM PLS (Partial Least Square). Date were collected using a questionnaire using a Likert scale. This research used descriptive method with a quantitative approach. The type of data used in this study is primary data. The results of this study prove that 1. waterpark image has a positive effect on price fairness, 2. Waterpark image has a positive effect on customer satisfaction, 3. Fairness of price has a positive effect on customer satisfaction, 4. Waterpark image has a positive effect on customer loyalty, 5. Fairness of price has a positive effect on customer loyalty, 6. Customer satisfaction has no effect on customer loyalty.

Managing Service Quality, Food Quality, Price Fairness and Customer Retention: A Holistic Perspective

2020 ◽  
Vol 2 (1) ◽  
pp. 1-5
Author(s):  
Ammar Ahmed ◽  
Rafat Naseer ◽  
Muhammad Asadullah ◽  
Hadia Khan
Keyword(s):  
Service Quality ◽  
Food Quality ◽  
Service Sector ◽  
Customer Retention ◽  
Price Fairness ◽  
Policy Makers ◽  
Restaurant Management ◽  
The Subject ◽  
Research Propositions ◽  
The Impact

In this competitive environment, organizations strive to satisfy their customer by providing best quality service at affordable and fair prices with a view to enhance their revenues. To achieve the objective of revenue maximization, organizations strive to identify the factors that help them in retaining their customers. Drawing from the signalling theory of marketing, the current study proposes a novel conceptual model representing the impact of service quality with food quality and price fairness on customer retention in restaurant sector of Pakistan. The paper underlines an important arena of knowledge for academicians as well as organizational scientists on the subject. On the basis of literature available on the variables understudy, the present study forwards eight research propositions worthy of urgent scholarly attention. The conceptualized model of the present article can also be viewed significant in unleashing further avenues for the restaurant management entities, policy makers and future researchers in the domain of managing in the service sector businesses.

A Study on Consumer Characteristics of Korean consumers' Intention to purchase Luxury Brand

2019 ◽  
Vol 118 (8) ◽  
pp. 420-430
Author(s):  
Ji-Hun Lee ◽  
Bok-Hyun Moon ◽  
Mi-Sook Yang
Keyword(s):  
Structural Equation ◽  
Service System ◽  
Equation Model ◽  
Pricing Strategy ◽  
Luxury Brands ◽  
Negative Image ◽  
Intention To Purchase ◽  
Characteristics Analysis ◽  
Changing Times

This study aims to suggest marketing implications for the success of the luxury brands in the market.Questionnaire was conducted for 360 consumers interested in purchasing luxury goods. The collected data were verified for the appropriateness of the structural equation model and the causation of each concept.luxury brands should put more effort to improve the quality and type of products through various consumer characteristics analysis, and build a pricing strategy to match consumer characteristics with various pricing systems and payment methods. In addition, it is necessary to pay more attention to setting the service system worthy of their luxury images so that the service system can also take the luxury image. What's more, since most luxury consumers are those who value their personality and image rather than cost, so they should do their best at each step so as not to give the negative image of the company to the eyes of the consumers until the end. And it needs to continue their research for enhanced quality of the products and manage the image to sustain the image of the company over time, and make efforts to understand the way of expressing the changing images in step with the changing times and read the cultural trend.

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