scholarly journals Better Product Quality May Lead to Lower Product Price

2017 ◽  
Vol 17 (1) ◽  
Author(s):  
Régis Chenavaz
Keyword(s):  
Optimal Control ◽  
Product Quality ◽  
Dynamic Pricing ◽  
Product Innovation ◽  
Production Cost ◽  
Lower Price ◽  
Product Price ◽  
Control Framework ◽  
Innovation Policies

AbstractThis article analyzes the conditions under which better product quality implies higher or lower product price. In an optimal control framework, I make the following assumptions: The firm sets the dynamic pricing and product innovation policies; product innovation raises quality, which drives production cost, and consumers are sensitive to price and quality. I derive a rule of price-quality relationship that stresses the influence of quality on price through the effects of cost (positive), sales (negative), and markup (positive). This article shows that, while maximizing profit and despite a quality and cost increases, the firm may decrease product prices because of the possibility of generating more sales as a result of combining better quality with lower price. This sales effect solves the puzzle of a negative price-quality relationship. More generally, the sales effect mitigates the ability of price to convey information about quality.

scholarly journals Product innovation, process innovation and advertising-based goodwill: A dynamic analysis in a monopoly

2021 ◽  
Vol 0 (0) ◽  
pp. 0
Author(s):  
Genlong Guo ◽  
Shoude Li
Keyword(s):  
Product Quality ◽  
Product Innovation ◽  
Dynamic Control ◽  
Innovation Process ◽  
Process Innovation ◽  
Social Optimum ◽  
Social Planner ◽  
State Variables ◽  
Product Price ◽  
The Social

<p style='text-indent:20px;'>In this paper, we develop a dynamic control model to investigate a monopolist's investment strategies in product innovation, process innovation and advertising-based goodwill. The significant features of our study are: (ⅰ) considering the effect of product quality on goodwill; (ⅱ) considering the instantaneous cost of producing a quality using machinery and/or skilled labour; (ⅲ) the customers' demand function depends on product quality, product price and goodwill in a separable multiplicative way between the state variables and control variables. Our results suggest that (ⅰ) the system admits unique saddle-point steady-state equilibrium under the monopolist optimum and the social optimum; (ⅱ) and the monopolist will have an underinvestment problem as compared with the social planner; and (ⅲ) although the product price is still determined by the monopolist under the social planner optimum, the product price is higher under the monopolist optimum than that under the social planner optimum.</p>

Non-Muslim Malaysians’ purchase intention towards halal products

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shyue Chuan Chong ◽  
Chin Chai Yeow ◽  
Choon Wei Low ◽  
Pei Yew Mah ◽  
Diep Thanh Tung
Keyword(s):  
Product Quality ◽  
Purchase Intention ◽  
Food Products ◽  
Partial Least Square ◽  
Least Square ◽  
Partial Least Square Regression ◽  
Product Price ◽  
Content Type ◽  
Halal Food ◽  
Klang Valley

Purpose Halal products were a norm in the Muslim countries; however, halal food products were not only being consumed by Muslims nowadays. People are concerned about their daily needs, especially their food and spend in this modern society. Customers nowadays are more educated, and all the information can be easily accessed by just a click. Previous literature found that customers are looking for quality products and products that are safer to be consumed. Design/methodology/approach The purpose of this study investigates non-Muslim customers’ intention in consuming halal food products in Klang Valley, Malaysia. Using 321 non-Muslim responses from Klang Valley, partial least square regression was used to examine the factors influencing the customer’s purchase intention on halal products. Findings The results show that product quality, product price, product availability and product safety significantly influence the purchase intention of urban non-Muslim on halal food products. The result implies that product quality is the most significant factor compared with other variables. Originality/value The data and results may contribute to the relevant authority to form a proper plan to improve Malaysia’s halal food items.

An Economic Model Predictive Control Approach for Wind Power Smoothing and Tower Load Mitigation

2018 ◽  
Author(s):  
Mohamed M. Alhneaish ◽  
Mohamed L. Shaltout ◽  
Sayed M. Metwalli
Keyword(s):  
Optimal Control ◽  
Optimal Control Problem ◽  
Model Predictive Control ◽  
Wind Power ◽  
Predictive Control ◽  
Economic Model ◽  
Control Algorithm ◽  
Fatigue Load ◽  
Economic Model Predictive Control ◽  
Control Framework

An economic model predictive control framework is presented in this study for an integrated wind turbine and flywheel energy storage system. The control objective is to smooth wind power output and mitigate tower fatigue load. The optimal control problem within the model predictive control framework has been formulated as a convex optimal control problem with linear dynamics and convex constraints that can be solved globally. The performance of the proposed control algorithm is compared to that of a standard wind turbine controller. The effect of the proposed control actions on the fatigue loads acting on the tower and blades is studied. The simulation results, with various wind scenarios, showed the ability of the proposed control algorithm to achieve the aforementioned objectives in terms of smoothing output power and mitigating tower fatigue load at the cost of a minimal reduction of the wind energy harvested.

scholarly journals Quality and Competitive Ability Evaluation Method Development Mobile Fleet

2018 ◽  
Vol 47 (1) ◽  
pp. 44-50
Author(s):  
Radik Ildarkhanov
Keyword(s):  
Product Quality ◽  
Competitive Ability ◽  
Method Development ◽  
Evaluation Method ◽  
Analytical Formula ◽  
Least Square ◽  
Product Price ◽  
Research Activities ◽  
Quality Coefficient ◽  
Ability Evaluation

The purpose of the article was to develop the evaluation method of mobile fleet. It is found that to evaluate production quality criterion of "integrated quality coefficient" is needed. Quality coefficient can be defined analytically. The author proposes the special formula to do this. Usage of analytical formula enables to conclude where one model excels the other, and where it is inferior. The formula validity check was performed. The research activities pursued by author enable to conclude that designed formula gives opportunity to evaluate product quality level objectively. Thus, competitive ability evaluation method resolves itself into choosing estimated product analogues and defining product quality coefficient using analytical method. Subsequently, prices and analogous product quality coordinates are put on two-coordinate field and dependency diagram of product price on its quality is built via least square method. Such method enables to evaluate quality and competitive ability of mobile fleet and make right choice.

scholarly journals Pengaruh Kualitas Produk, Harga Dan Kualitas Pelayanan Terhadap Kepuasan Konsumen Kedai Warsu Coffe Cafe

2019 ◽  
Vol 15 (2) ◽  
pp. 250
Author(s):  
Risatul Umami ◽  
As'at Rizal ◽  
Sumartik Sumartik
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Product Quality ◽  
Sampling Technique ◽  
Product Price ◽  
Descriptive Research ◽  
Good Product ◽  
Analysis Technique ◽  
Dominant Influence ◽  
Good Product Quality

This research finds out the effect of product, price and service quality toward customer satisfaction both partially and simultaneously at Warsu Coffe Cafe. It is descriptive research with a quantitative method. The data were collected using questionnaires and documentation. The populations were the consumers who visited and bought a product in Warsu Coffe Cafe. The samples were 87 respondents that were chosen by using nonprobability sampling technique with incidental sampling type. The analysis technique used multiple linear regression. The result showed that both partially and simultaneously, the product, price, and service quality affect customer satisfaction. The most dominant influence is product quality on customer satisfaction, it shows that the Warsu Coffee Cafe has good product quality.

scholarly journals PLUMMETING CONSUMERS' BRAND SWITCHING BEHAVIOUR USING A HOLISTIC PRODUCT STRATEGY IN THE ZIMBABWEAN COLA INDUSTRY

2021 ◽  
Vol 11 (3) ◽  
Author(s):  
Forbes Makudza ◽  
Gratitude Tasara ◽  
Gibson Muridzi
Keyword(s):  
Product Quality ◽  
Holistic Approach ◽  
Theoretical Modelling ◽  
Equation Modeling ◽  
Product Strategy ◽  
Product Price ◽  
Marketing Orientation ◽  
Brand Switching ◽  
Switching Behaviour ◽  
Effective Product

The study was driven by the need to elevate consumers’ switching costs so as to minimise consumer churning behaviour. The purpose of this study was to examine the effect of the product strategy on consumers’ brand switching intention behaviour. A marketing orientation of managing a product from a holistic approach was adopted and that was informed by previous theoretical modelling. The study followed a quantitative approach in the cola industry in Zimbabwe. Data was collected using questionnaires from a sample size of 432 respondents. Structural Equation Modeling (SEM) - Amos Graphics was used to analyse data. The study confirmed that a holistic approach to product strategy is statistically significant in minimising churning behaviour of customers. Product availability and product quality were inversely influencing behavioural intention to switch brands whilst product price recorded a significant positive impact. Product range had an insignificant association with consumer attrition. The study concluded that consumers’ switching behaviour can be managed through a well implemented product strategy. To plummet brand switching behaviour, the study recommends effective product pricing, effective product distribution and improvements in product quality.

scholarly journals PENGARUH KUALITAS PRODUK, INOVASI PRODUK DAN PROMOSI TERHADAP KEPUTUSAN PEMBELIAN PRODUK HI JACK SANDALS BANDUNG

2019 ◽  
Vol 7 (1) ◽  
pp. 17
Author(s):  
Diah Ernawati
Keyword(s):  
Linear Regression ◽  
Hypothesis Testing ◽  
Multiple Linear Regression ◽  
Product Quality ◽  
Product Innovation ◽  
Purchase Decision ◽  
Test Model ◽  
Transaction Data ◽  
Quality Product ◽  
Program Version

<p><em>This study aims to determine and analyze the influence of product quality, product innovation and promotion to product purchase decision of "Hi Jack Sandals Bandung". Data were collected by questionnaire distribution technique using Likert scale. The population in this study was obtained from the transaction data "Hi Jack Sandals Bandung" in January-July 2017  amounted to 3,033 transactions.The sample wasselected using purposive sampling obtained100 respondents. Hypothesis testing in this study usingclassical assumption test, multiple linear regression with α 0,05, whichdetermine, fit test model (F test), and t test with SPSS Program version 24. The results of this study indicate that variables of product qualityand promotion have significant positive effectson purchase decision,while variable of product innovation has no significant effect on purchase decision. </em></p>

scholarly journals EVALUASI PENGARUH PRODUCT QUALITY, PRODUCT INNOVATION DAN MARKETING PROMOTION TERHADAP BRAND IMAGE IKEA

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
I Gede Wisnu Satria Chandra Putra
Keyword(s):  
Data Processing ◽  
Product Quality ◽  
Product Innovation ◽  
Brand Image ◽  
Sampling Technique ◽  
Independent Variables ◽  
Quality Product ◽  
Convenience Sampling ◽  
Significant Point

<p>Penelitian ini bertujuan untuk menganalisis pengaruh Kualitas Produk, Inovasi Produk dan Promosi Pemasaran terhadap Citra Merek. Objek penelitian ini adalah konsumen IKEA di Alam Sutra - Tangerang. Penelitian ini dilakukan pada 100 responden dengan menggunakan teknik convenience sampling dan menggunakan program SPSS 22.00 sebagai alat pengolahan data. Hasil penelitian ini menunjukkan bahwa secara simultan variabel Kualitas Produk, Inovasi Produk, dan Promosi Pemasaran memengaruhi Citra Merek IKEA di Alam Sutra - Tangerang. Ini telah dibuktikan dari hasil uji simultan (F). Namun hasil (t) uji parsial menunjukkan titik signifikan pada salah satu dari tiga variabel independen yang mendukung hipotesis. Oleh karena itu, asumsi yang diterima adalah, hanya ada pengaruh antara Inovasi Produk dengan Citra Merek IKEA di Alam Sutra – Tangerang</p><p><strong>Kata kunci</strong>: Kualitas Produk, Inovasi Produk, Promosi dan Pemasaran, Citra Merek</p><p> </p><p><em>This research aimed to analyze the influence of Product Quality, Product Innovation and Marketing Promotion to Brand Image. The object of this research is consumer of IKEA in Alam Sutra - Tangerang. This research was done to 100 respondents by using convenience sampling technique and using the SPSS 22.00 program as a data processing. The result of this research shows that simultaneously, the variable of Product Quality, Product Innovation and Marketing Promotion influence the Brand Image of IKEA in Alam Sutra - Tangerang. It has been proven from the result of (F) simoultant test.  However the result of (t) partial test shows significant point on one of three independent variables that supports the hipothesis. Therefore, the accepted assumption is, there is influence only between Product Innovation to Brand Image of IKEA in Alam Sutra – Tangerang</em><strong><em></em></strong></p><p><strong><em>Keywords: </em></strong><em> Product Quality, Product Innovation, Marketing Promotion, Brand Image<strong></strong></em></p>

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