Pricing Strategy of Online Knowledge Market

2009 ◽  
pp. 2556-2570
Author(s):  
Zuopeng (Justin) Zhang ◽  
Sajjad M. Jasimuddin
Keyword(s):  
Best Practice ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Optimal Price ◽  
Different Levels ◽  
Knowledge Market

This article addresses the different levels of pricing strategies for an online knowledge market. Based on the best practice from Google Answers, an online knowledge market is modeled as a marketplace where consumers ask and researchers answer questions to make knowledge transactions. Consumers optimally price their questions to obtain answers, and a firm maintains the online knowledge market by determining the optimal price allocation to researchers. Our study identifies two types of consumers, spin-off and mainstream, based on whether additional utilities will be derived from the market. In addition, we investigate how the firm can use minimal and maximal posting prices to regulate the knowledge market.

Strategy to Regulate Online Knowledge Market

2010 ◽  
pp. 206-219
Author(s):  
Zuopeng (Justin) Zhang ◽  
Sajjad M. Jasimuddin
Keyword(s):  
Pricing Strategies ◽  
Optimal Price ◽  
Different Levels ◽  
Knowledge Market

This chapter studies different levels of pricing strategies for an online knowledge market, where consumers ask and experts answer questions to make knowledge transactions. Consumers optimally price their questions to obtain answers and a firm manages the online knowledge market by determining the optimal price allocation to experts. This research identifies two types of consumers, spin-off and mainstream, depending on whether additional utilities will be derived from the market. In addition, we investigate how the firm can use minimal and maximal posting prices to regulate the knowledge market.

scholarly journals A Comparative Study of Renewable Energy Industry Regulation on Feed-In Tariffs Based on Pricing Strategy of Value Standard Method

2013 ◽  
Vol 2013 ◽  
pp. 1-9 ◽  
Author(s):  
Peng Sun
Keyword(s):  
Social Welfare ◽  
Standard Method ◽  
Energy Production ◽  
Pricing Strategy ◽  
Energy Industry ◽  
Pricing Strategies ◽  
Optimal Price ◽  
Industry Regulation ◽  
Regulation Type ◽  
Renewable Energy Industry

Based on pricing strategy of value standard method, we establish a three-stage game model of energy production to compare the differences of optimal regulated price and social welfare under three regulation types of feed-in tariffs. We show that the optimal price levels under three main regulation types are different. But the choice of regulation type does not impact the optimal social welfare. So policymakers with different preferences may make regulation decisions in different ways. This successfully explains why many regulation types exist in different countries. Moreover, although it is difficult to determine the optimal price by the value standard method in practice, the conclusions of this paper also provide a judgment criterion for other pricing strategies on how to choose a suboptimal regulation type.

THE PRICING STRATEGY OF COMPLETE PRE-ORDERED MERCHANDISE UNDER DISCOUNTED PROFIT FOR MAXIMIZING

2008 ◽  
Vol 25 (05) ◽  
pp. 613-624 ◽  
Author(s):  
MIAO-SHENG CHEN ◽  
FU-CHIEN TSAI
Keyword(s):  
Price Level ◽  
Rate Function ◽  
Pricing Strategy ◽  
Optimal Price ◽  
Price Variability ◽  
Intention To Purchase ◽  
Price Levels ◽  
Demand Rate ◽  
Potential Demand ◽  
Customer Purchases

When a customer steps into a complete pre-ordered store, he will review the merchandise and consider his demands based on the merchandise price levels and price variability at that point in time. However, after declaring his intention to purchase said merchandise, the store assistant informs him that the merchandise will not be available for a period of time. This is a typical stock-out merchandise scenario in which customers may only place an order for delivery at a later point in time. Therefore, whether or not customer purchases merchandise does not just depend on the price at that moment. It is also influenced by the expected future increase or decrease of the price of the merchandise and the length of time before the store can supply the merchandise. In this study, we will explore how to set price levels at each point in time during the stock-out period in order to maximize the discounted profit after considering the influence of the price level, price variability, and waiting time on customer demand. The main assumption in this study is that customers' potential demand rate function at a given point during the stock-out period is a linear function of the price level and price variability at that point. Also, the ratio function of customers willing to wait for the merchandise is an exponential function of the length of time before the merchandise will be delivered. Constructing a mathematical model that is concrete to discuss the above problem, to derive the optimal price function of the merchandise at each point in time, and to discuss the characteristics of this function are the main parts of this study.

scholarly journals The Analysis of Blocking Behavior and Pricing: The Case of Airbnb

2020 ◽  
pp. 1-28
Author(s):  
Yifeng Peng
Keyword(s):  
Empirical Analysis ◽  
Rapid Growth ◽  
Profit Maximization ◽  
Sharing Economy ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Product Pricing ◽  
Starting Point ◽  
The Future ◽  
Resources Sharing

Over the years, as people's lives have improved, our need for transportation and accommodation has increased, driving the rapid growth of the sharing economy. Some well-known network sharing platforms, such as Uber, Drip and Airbnb, provide a large number of convenient options for users with transactional needs, make more use of idle tourism, accommodation and other resources. Sharing economy platforms continue to improve the content and format of their products, but at the same time, the future of sharing platforms and the difficulty of competition is a concern as more platform companies become involved and prices become more transparent. Under this circumstance, optimizing product pricing has become an urgent need for many sharing economy platforms. In this paper, we take Airbnb as the starting point and conduct an empirical analysis of the blocking behavior of homeowners based on proprietary data to explore the factors that affect their product supply. We find that price, number of beds, and listing type all have a significant impact on blocking houses. After that, we conducted further research on price factors and developed a model aiming at profit maximization to obtain the best pricing range for the region and provide suggestions for pricing strategies. Keywords: Sharing Economy, Blocking behavior, Pricing Strategy, Airbnb

scholarly journals Cannabis in Canada: a best practice guide to planning for the legalization of recreational marijuana

2021 ◽  
Author(s):  
Alison Quigg
Keyword(s):  
Land Use ◽  
Best Practices ◽  
Land Use Planning ◽  
Best Practice ◽  
Retail Stores ◽  
Land Uses ◽  
Practice Guide ◽  
Recreational Marijuana ◽  
Different Levels ◽  
Production Facilities

When marijuana is legalized in Canada there will be land-use planning implications for municipalities. Different levels of government have different jurisdictional responsibilities regarding the legalization of recreational marijuana. One of the jurisdictional responsibilities of municipalities is land use planning and zoning. Two new land uses will be introduced to municipalities through the legalization of marijuana: recreational marijuana production facilities and recreational marijuana retail stores. For municipalities to control for the location of these uses, the land use legislation they enact must be able to co-exist with federal and provincial/territorial legislation and not result in any operational conflicts. This research paper provides a set of best practices to municipalities across Canada for how they should regulate these uses in their land use legislation. KEY WORDS: recreational marijuana legalization; marijuana retail stores; marijuana production facilities; land use planning; Canada.

Pricing for New Products

2013 ◽  
pp. 56-74
Keyword(s):  
New Product Development ◽  
New Products ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Product Innovations ◽  
Product Pricing ◽  
Pricing Process ◽  
Product Scope ◽  
Market Needs ◽  
Market Strategies

Pricing strategies specify market needs that may be served by different price offerings. The pricing strategies of the company are duly related to market strategies that eventually come to dominate both the overall strategy and the spirit of the company. Pricing strategies deal with matters such as number and diversity of products, product innovations, product scope, and product design. The implementation of pricing strategies requires cooperation among different groups including finance, research and development, the corporate staff, and marketing. This chapter guides managers as to how to manage the concept pricing process for new product development effectively by the customer centric companies through mapping the consumer perceptions about their needs and expected products. In this chapter, the author describes how companies get customer centric pricing strategy, product pricing, and tactical moves in a way that help the firms to get the competitive advantage and build profits in the future.

Guiding Principles for Identifying and Promoting Best Practice in Virtual Campuses

2011 ◽  
pp. 147-162 ◽  
Author(s):  
Mark Stansfield ◽  
Thomas Connolly
Keyword(s):  
Best Practice ◽  
Virtual Campus ◽  
High Profile ◽  
Key Stakeholders ◽  
E Learning ◽  
Key Issues ◽  
Level Model ◽  
Guiding Principles ◽  
Executive Agency ◽  
Different Levels

This chapter will outline a set of guiding principles underpinning key issues in the promotion of best practice in virtual campuses. The work was conducted as part of the “Promoting Best Practice in Virtual Campuses” (PBP-VC) project that is aimed at identifying underlying issues and examples of best practice in providing a better understanding into virtual campus development and sustainability. The PBP-VC project was a two year European Commission Education Audiovisual and Culture Executive Agency (EACEA) co-financed project running from March 2007 to February 2009. The PBP-VC project team have worked with key stakeholders from virtual campus projects across Europe and globally in identifying and exploring key issues relating to best practice. The importance of developing a practical set of guiding principles for identifying, evaluating and promoting best practice in virtual campuses and e-learning can be demonstrated by the significant number of high profile e-learning and virtual campus failures that have occurred over the last decade both within Europe and globally at great financial cost. This chapter will highlight key enablers and inhibitors to success, provide a description of the different elements comprising the guiding principles in the promotion of best practice, as well as describing a tentative four level model aimed at illustrating different levels of virtual campus maturity in the achievement of sustainability and organisational transformation.

scholarly journals An Analysis of Supermarket Pricing: The Case of Selected Supermarkets in Gaborone, Botswana

2016 ◽  
Vol 8 (2) ◽  
pp. 66
Author(s):  
Sathyamoorthi C.R. ◽  
Mburu P. T.
Keyword(s):  
Pricing Strategy ◽  
Pricing Strategies ◽  
Price Fluctuations ◽  
Intercept Survey ◽  
Price Differences ◽  
Everyday Low Price

<p>The purpose of study is to explore price fluctuations (tracking of pricing trends) in essential consumer items among identified Supermarkets in Gaborone. The prices were read from shop displays at the beginning of the month, mid-month and at the end of the month. A triangulation methodology was utilised as it strengthened and confirmed results. Seven major supermarkets were selected for the study while a mall intercept survey was used to find out the consumer store and brand selection in relation to pricing strategies adopted by the store.</p><p>The study revealed that there were price fluctuations and differences between selected supermarkets during the selected period of study as well as amongst branches within a supermarket. Supermarkets utilised pricing for promotional than other element of retail mix. The results indicate that Promo pricing strategy was preferred by both stores and customers compared to Everyday Low Price (EDLP) and High-Low Pricing. While consumers shopped at the beginning and the end of the month looking at the price, mid-month shopping was done more looking at other retail mix elements. With well-educated customer’s base, EDLP and H/L pricing may not work as customers would be looking for the extras in the retail mix. The findings also indicated that consumers were aware of price differences and engaged in shopping in an opportunistic manner (cherry pickers). </p>

EFFECT OF PENETRATION PRICING STRATEGY ON THE PROFITABILITY OF INSURANCE FIRMS IN KENYA.

2017 ◽  
Vol 2 (3) ◽  
pp. 93
Author(s):  
Perminus Kariuki Nyaga ◽  
Mr. Wilson Muema
Keyword(s):  
Pricing Strategy ◽  
Insurance Companies ◽  
Primary Data ◽  
Pricing Strategies ◽  
Descriptive Research ◽  
Research Designs ◽  
The Status ◽  
Insurance Firms ◽  
Product Costs ◽  
Positive Effect

Purpose: The objectives of the study were to establish the To determine the effect of penetration pricing strategy on the profitability of insurance firms in Kenya.Methodology:The descriptive research design was preferred to other research designs because it reports the status of study variables. The population of study was the 45 insurance companies operating in Kenya as at 31st December 2012. Data was drawn from a period of five (5) years that is 2008-2012. The sample of this study was 10% of the sales workforce which comprised of 900 employees from the 45 insurance companies. The sample was generated by purposively sampling two employees from each insurance company.The researcher collected primary data with the help of a questionnaire. The primary data obtained from the questionnaires was summarized and analyzed by use of descriptive and inferential statistical techniques.Results:Regression and correlation results indicated that there was a statistically significant and positive relationship between penetration pricing strategies and profitability. These results implied that penetration pricing has a positive effect on the profitability of insurance companies.Policy recommendation: The study recommends that insurance companies put in place measures assess the most effective pricing strategy to reduce product costs and thus increase profitability whenever such a strategy is used.

Dynamic stability of the Nash equilibrium for a bidding game

2016 ◽  
Vol 14 (04) ◽  
pp. 591-614 ◽  
Author(s):  
Alberto Bressan ◽  
Hongxu Wei
Keyword(s):  
Nash Equilibrium ◽  
A Priori ◽  
Limit Order Book ◽  
Pricing Strategy ◽  
Noncooperative Game ◽  
Order Book ◽  
Pricing Strategies ◽  
Price Formula ◽  
Incoming Order ◽  
Unique Nash Equilibrium

A one-sided limit order book is modeled as a noncooperative game for several players. An external buyer asks for an amount [Formula: see text] of a given asset. This amount will be bought at the lowest available price, as long as the price does not exceed an upper bound [Formula: see text]. One or more sellers offer various quantities of the asset at different prices, competing to fulfill the incoming order. The size [Formula: see text] of the order and the maximum acceptable price [Formula: see text] are not a priori known, and thus regarded as random variables. In this setting, we prove that a unique Nash equilibrium exists, where each seller optimally prices his assets in order to maximize his own expected profit. Furthermore, a dynamics is introduced, assuming that each player gradually adjusts his pricing strategy in reply to the strategies adopted by all other players. In the case of (i) infinitely many small players or (ii) two large players with one dominating the other, we show that the pricing strategies asymptotically converge to the Nash equilibrium.

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