scholarly journals Factors influencing price premiums of Australian wine in the UK market

2018 ◽  
Vol 30 (1) ◽  
pp. 96-116 ◽  
Author(s):  
Elyse Shane ◽  
MD Wahid Murad ◽  
Susan Freeman
Keyword(s):  
Distribution Channel ◽  
Hedonic Pricing ◽  
Retail Price ◽  
Product Attributes ◽  
Content Type ◽  
Price Premiums ◽  
Level Data ◽  
Retail Prices ◽  
Pricing Theory ◽  
The Uk

Purpose The purpose of this paper is to determine and analyse that factors that could potentially influence price premiums of Australian wine in the UK market. The authors integrated the economic-based hedonic pricing theory and marketing export pricing literature. The authors demonstrate a potential solution to limitations in knowledge of market-level data and industry wide competition, currently lacking in export pricing studies. Design/methodology/approach Using data extracted from wine-searcher.com and using multiple regression as the main analytical technique, the authors examined the relationships between actual retail prices UK consumers pay for Australian wine and product attributes. The authors compared the moderating influence of distribution channel (retail choice) on these relationships. Findings The results provide insights in export pricing literature, and the authors support better theoretical explanations for hedonic pricing studies in export marketing. The authors found two types of wine attributes – “brand” and “region of origin” – that attract price premiums. While relationships between variety and retail price, as well as age and retail price are less clear, the authors provide some support. Research limitations/implications One limitation of this hedonic pricing study is the inability to explain why certain relationships between product attributes and price premiums exist. Studies such as these could be improved by utilising both consumer- and firm-level data. Practical implications Whilst final prices paid by consumers are beyond the control of producers, understanding the relationships between retail prices, retail choices and product attributes are of strategic importance. Understanding the role consumer preferences play in determining prices they ultimately pay is of great value when determining export/retail pricing strategies. Social implications Consumers and firm managers are jointly able to provide comprehensive explanations on why certain attributes attract price premiums. The integration of economic and consumer-based theories provides a holistic understanding of the influence of retail choices and product attributes on retail prices. Originality/value The authors drew on the hedonic pricing theory linking product attributes with retail prices, which is vital for understanding market share and brand image. The authors identified which product attributes and which distribution channels (retail choices) are valuable to consumers. Deeper understanding of these issues is important for producers.

Evaluating the worth of nascent old vine cues for South African wines

2019 ◽  
Vol 32 (2) ◽  
pp. 283-300
Author(s):  
David Priilaid ◽  
Jonathan Steyn
Keyword(s):  
South African ◽  
Hedonic Pricing ◽  
Least Square ◽  
Data Set ◽  
Content Type ◽  
Ordinary Least Square ◽  
Extrinsic Cues ◽  
Pricing Theory ◽  
Grape Varieties ◽  
Marketing Material

Purpose In increasingly competitive markets, opportunities exist to meaningfully differentiate product offerings by cue signalling the claims of emergent categories. Therefore, and within the context of wine sales, the purpose of this study models the supply-led price importance of nascent, extrinsic old vine (OV) cues for South African wines to establish whether to what extent and how producers prioritise such nascent cues relative to more established extrinsic cues of worth. Design/methodology/approach A data set was compiled of 159 South African wines with OV category cues signalled on front labels, back labels or via marketing material. The play of contending cue variables was computed through an ordinary least square hedonic pricing model. Findings In addition to the contribution of established cues such as aggregated critic ratings, grape varieties and area of origin, this study confirms that vineyard age contributes significantly to wine price, particularly when signalled on back labels. Practical implications In price setting and positional models, such as brand extensions, the findings prove useful in understanding the inherent value of nascent cues and specifically vineyard age, relative to competing established wine cues of worth. Originality/value This study extends the wine pricing theory by validating the viability of nascent OV cues in the modelling of a wine’s value.

Convergence or difference? Western European household food expenditure

2014 ◽  
Vol 116 (5) ◽  
pp. 792-804 ◽  
Author(s):  
Amy Erbe Healy
Keyword(s):  
Convergence Theory ◽  
Content Type ◽  
Demographic Groups ◽  
Household Level ◽  
Head Of Household ◽  
Household Food ◽  
Level Data ◽  
Food Expenditure ◽  
Western European ◽  
The Uk

Purpose – This research examines convergence theory in terms of food expenditure patterns within and across a sample of Western European countries, specifically Italy, Ireland, France and the UK. Design/methodology/approach – Household budget survey data from Italy, the UK, France and Ireland (1985-2005) have been analysed comparing average food budgets and change in coefficient of variations for common food groupings and through cluster analysis for all four countries to determine whether or not countries are becoming more or less alike. Findings – Unlike the average food budgets in Ireland, the UK and France, Italian food budgets are still made up of a high percentage of foods to prepare and eat at home, similar to food budgets in the other countries for socio-demographic groups that either have chosen to eat traditionally or cannot afford to eat out (food poverty households). Modern households within France, the UK and Ireland are spending a higher percentage on foods away from home with some households, specifically those with a head of household who is young, employed and single, spending, on average, two-thirds of their household food budget dining away from home. Originality/value – Previous research into convergence theory has generally analysed national summary level data. This research uses household level data, allowing for both an analysis of convergence across countries and within countries, specifically looking at socio-demographic groups that share similar food budgets and food lifestyles.

The impact of firms’ social ties with customers on dual-channel supply chains

2019 ◽  
Vol 38 (6) ◽  
pp. 777-796
Author(s):  
Wei Wei ◽  
Shue Mei ◽  
Jiameng Yang ◽  
Zhiyong John Liu
Keyword(s):  
Social Media ◽  
Supply Chain ◽  
Social Ties ◽  
Wholesale Price ◽  
Information Service ◽  
Distribution Channel ◽  
Retail Price ◽  
The Other ◽  
Content Type ◽  
Dual Channel

Purpose More and more firms are utilizing social media as a distribution channel to sell products. By establishing business accounts on social media firms provide information service to strengthen their relationship with customers and boost sales. The purpose of this paper is to investigate the pricing, information service provision and channel strategies of firms who sell products through social media. Design/methodology/approach The authors use a game theoretical model to study a dual-channel supply chain consisting of one manufacturer and one retailer. Two scenarios are considered – under one scenario the manufacturer and under the other the retailer, respectively, solely provides information service. Both firms’ pricing decisions and profits are compared. Findings The authors find that in the dual-channel model with either the manufacturer or the retailer providing information service to enhance the demand: a firm that has stronger social ties with customers is willing to provide more information services; when the manufacturer provides information service, it charges a direct price higher than the wholesale price, and whether the direct-channel price exceeds the retail price depends on the strength of the manufacturer’s social ties with customers; when the retailer provides information service, the direct price is equal to the wholesale price, both lower than the retail price; and a firm always prefers itself rather than the other firm to provide information service. However, the whole supply chain is better off if the manufacturer rather than the retailer provides information service. Research limitations/implications Besides the relationship between firms and customers, the peer relationship among customers also impacts the supply chain performance, which might be studied in the future. Originality/value The study is novel in theoretically exploring the influence of firms’ social relationship with customers on firms’ pricing and channel strategies.

Effects of multitier private labels on marketing national brands

2019 ◽  
Vol 28 (3) ◽  
pp. 391-407 ◽  
Author(s):  
M. Tolga Akcura ◽  
Ian Clark Sinapuelas ◽  
Hui-Ming Deanna Wang
Keyword(s):  
Generalized Method Of Moments ◽  
Marketing Mix ◽  
Set Covering ◽  
Data Set ◽  
Content Type ◽  
National Brands ◽  
Pricing Decisions ◽  
Level Data ◽  
Confounding Variables ◽  
Retail Prices

Purpose This paper aims to understand empirically how shares of standard and premium private label (PL) products affect a retailer’s marketing mix decisions toward national brands (NBs). Design/methodology/approach Using a comprehensive store-level data set covering 52 categories and 130 stores of two retailer chains during 2003-2009, this paper examines how shares of standard and premium PLs affect retailer marketing strategies for NB retail prices, promotions and product assortments. The empirical analysis uses a simultaneous equations model estimated by the generalized method of moments approach and controls for endogeneity between PL shares and NB decisions and potential confounding variables including consumer, manufacturer and retailer factors. Findings Standard PL shares are associated positively with NB retail prices and negatively with NB promotions and assortments. In contrast, premium PL shares are associated positively with NB retail prices, promotions and assortments. Research limitations/implications The results indicate that retailers make strategic NB decisions through multitier PLs. Specifically, the evidence suggests that retailers use standard and premium PLs differently in promotion and assortment decisions toward NBs. NB manufacturers need to be cognizant of the increasing marketing power of retailers through their multitier PLs. Originality/value Prior research has mainly focused on the role of PLs as a strategic weapon to gain power in the channel and its impact on NB pricing decisions in a single PL context. After accounting for potential confounding factors (retailer, consumer and manufacturer) and endogeneity, the authors find empirical evidence that retailers appear to leverage standard and premium PLs differently in some marketing mix decisions toward NB. In particular, the results reveal PL performance to be a determinant of retailer NB assortment decisions.

scholarly journals Business lending and bank profitability in the UK

2016 ◽  
Vol 33 (2) ◽  
pp. 302-319 ◽  
Author(s):  
Victor Ekpu ◽  
Alberto Paloni
Keyword(s):  
Fixed Effects ◽  
Banking System ◽  
Total Sample ◽  
Foreign Banks ◽  
Content Type ◽  
Level Data ◽  
Panel Fixed Effects ◽  
The Uk ◽  
Capital Injections ◽  
Bank Profits

Purpose The purpose of this paper is to investigate the importance of business lending as a source of bank profits in the UK banking system. The paper also examines whether the profitability of business lending is mostly driven by heterogeneous characteristics of individual banks or whether it is affected by systematic characteristics such as bank size and ownership structure. Design/methodology/approach The study uses bank level data from BankScope for a total sample of 83 UK banks and building societies. The period under consideration extends from 2005 to 2009. Econometric estimation is by panel fixed effects. Findings Our empirical results show that business lending is a statistically significant determinant of bank profits. However, this average effect masks important systematic differences among banks. In particular, we find strong size effects: the profitability of business lending is considerable for small banks but negligible for large banks. In contrast, we could not detect any ownership effects for domestic and foreign banks. These findings persist when the occurrence of the financial crisis is accounted for. Research limitations/implications Interestingly, our study relates these findings to the process of financialisation. Yet, the extent of the latter and its impact on various groups of banks (i.e. large, small, domestic and foreign banks) have not been examined. Further research in this area would make an important contribution to the literature. Practical implications Our findings suggest that business lending is not a driving factor of profitability for large banks. One possible policy implication – which may be of interest especially to regulators and policy makers – is that capital injections into the larger banks per se are unlikely to lead to an expansion of credit to business. Originality/value There is very little research in the literature on the questions addressed in this paper, especially for the UK banking system. Moreover, the process of financialisation, which motivates the enquiry of this paper, is a growing area of research. Thus, the contribution of this paper is twofold.

scholarly journals Strategic Analysis of the Pricing Mechanisms in an Online Book Supply Chain in the Presence of Reference Price Effects

2021 ◽  
Vol 16 (5) ◽  
pp. 1492-1516
Author(s):  
Wenhua Hou ◽  
Yuwen Zeng
Keyword(s):  
Supply Chain ◽  
Discount Rate ◽  
Reference Price ◽  
Stackelberg Game ◽  
Lower Boundary ◽  
Retail Price ◽  
Reference Points ◽  
Price Effects ◽  
Retail Prices ◽  
Online Book

(1) Background: A binding recommended retail price has been used in several markets in a variety of forms, and the book market is a typical example. Publishers sell books to online retailers at a unit wholesale discount computed on the cover price. Retailers are then allowed to set the retail price. Therefore, if consumers regard the cover prices as reference points, then they may be more likely to purchase books if retail prices are lower than the cover prices. (2) Methods: We develop a Stackelberg game model for a book supply chain to investigates how reference price effects affect retailers and publisher’s pricing strategies. (3) Results: The results show that retailers will sell printed books at a discount only when the publisher’s wholesale discount rate is not high. Further, as the intensity of the reference price effects increases, (a) the lower boundary of the wholesale discount rate rises, (b) publishers’ profits increase and (c) retailers’ profits increase relative to the level of consumers’ e-books acceptance. (4) Conclusions: This result is related to the fact that the online retailer, such as Amazon and JD.com, like to invoke reference price effects in consumers’ minds by highlighting the printed book’s discount rate.

Medical treatment and best interests: judicial interpretation of values, wishes and beliefs under the Mental Capacity Act 2005

2020 ◽  
Vol 22 (3) ◽  
pp. 165-173
Author(s):  
Owen P. O'Sullivan
Keyword(s):  
Medical Treatment ◽  
Clinical Decision ◽  
Case Law ◽  
Decision Makers ◽  
Best Interests ◽  
Content Type ◽  
The Supreme Court ◽  
Mental Capacity Act 2005 ◽  
Mental Capacity Act ◽  
The Uk

Purpose The prominence of the best interests principle in the Mental Capacity Act 2005 represented an important transition to a more resolutely patient-centred model regarding decision-making for incapable adults (“P”). This paper aims to examine the courts’ consideration of P’s values, wishes and beliefs in the context of medical treatment, reflect on whether this has resulted in a wide interpretation of the best interests standard and consider how this impacts clinical decision makers. Design/methodology/approach A particular focus will be on case law from the Court of Protection of England and Wales and the Supreme Court of the UK. Cases have been selected for discussion on the basis of the significance of their judgements for the field, the range of issues they illustrate and the extent of commentary and attention they have received in the literature. They are presented as a narrative review and are non-exhaustive. Findings With respect to values, wishes and beliefs, the best interests standard’s interpretation in the courts has been widely varied. Opposing tensions and thematic conflicts have emerged from this case law and were analysed from the perspective of the clinical decision maker. Originality/value This review illustrates the complexity and gravity of decisions of the clinical decision makers and the courts have considered in the context of best interests determinations for incapacitated adults undergoing medical treatment. Subsequent to the first such case before the Supreme Court of the UK, emerging case law trends relating to capacity legislation are considered.

Complementarity of capabilities across cultures

2019 ◽  
Vol 26 (4) ◽  
pp. 567-585 ◽  
Author(s):  
Thomas Anning-Dorson
Keyword(s):  
Cultural Context ◽  
Structural Equation ◽  
Social Institutions ◽  
Equation Modeling ◽  
Service Firms ◽  
Complementarity Effect ◽  
Content Type ◽  
Cultural Contexts ◽  
Customer Involvement ◽  
The Uk

Purpose The purpose of this paper is to investigate how service firms across two different cultural contexts use their customer involvement capabilities to create competitive advantage. The study further assesses the possible complementarity effect of innovation and involvement capabilities in enhancing firm competitiveness. Lastly, the study draws on the complementarity of capabilities and social institutions to examine whether different cultural contexts explain the use of involvement capability among service firms. Design/methodology/approach The study sampled service firms from an emerging economy (India) and high-income economy (The UK), which have different cultural contexts (collectivism/individualist) to assess the hypothesized relationship. Data collection processes were adapted to the contexts to optimize reliability and relevance. Multi-group structural equation modeling was used in analyzing the data. Findings The study finds that cultural contexts explain the positive relationship between customer involvement capability and firm competitiveness such that in collectivist cultures, involvement capability is more positively related to competitiveness but negative in individualistic contexts. However, in both contexts, service firms can through capability bundling increase firm competitiveness. The study found that the complementarity effects of innovation and involvement capabilities were found to be positive in both contexts. Originality/value This study departs from previous studies by arguing that customer involvement is a complementary capability that helps exploit the potential of innovation capability of service firms. This study further demonstrates that cultural context defines the effectiveness of involvement capability in achieving firm competitiveness.

scholarly journals The prevalence of ill-treatment and bullying at work in Ireland

2020 ◽  
Vol 13 (3) ◽  
pp. 245-264
Author(s):  
Victoria Hogan ◽  
Margaret Hodgins ◽  
Duncan Lewis ◽  
Sarah Maccurtain ◽  
Patricia Mannix-McNamara ◽  
...  
Keyword(s):  
Workplace Bullying ◽  
National Level ◽  
Economic Recession ◽  
Survey Study ◽  
National Study ◽  
Content Type ◽  
Level Data ◽  
Irish Data ◽  
Behaviour Study ◽  
National Probability Sample

PurposeThe purpose of this paper is to examine the prevalence of ill-treatment and bullying experienced by Irish workers and to explore individual and organisational predictors. The most recent national figures available are specific to bullying and predate the economic recession; therefore, this study is timely and investigates a broader range of negative behaviours.Design/methodology/approachA questionnaire survey study on a national probability sample of Irish employees was conducted (N = 1,764). The study design replicated the methodology employed in the British workplace behaviour study.FindingsThe results showed that 43% of Irish workers had experienced ill-treatment at work over the past two years, with 9% meeting the criteria for experiencing workplace bullying. A number of individual and organisational factors were found to be significantly associated with the experience of ill-treatment at work.Research limitations/implicationsThis study provides national-level data on workplace ill-treatment and bullying that are directly comparable to British study findings.Practical implicationsThe findings indicate that a significant number of Irish workers experience ill-treatment at work, and that workplace bullying does not appear to have decreased since the last national study was conducted in Ireland.Social implicationsThis study is of use to the Irish regulator and persons responsible for managing workplace bullying cases, as it identifies high-risk work situations and contributing individual factors.Originality/valueThis study provides national Irish data on workplace behaviour and ill-treatment following a severe economic recession.

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