Manufacturers can acquire consumer information in a sequential manner and influence downstream retail behavior through sharing the acquired information. This paper examines the interaction between ...
Companies which do business in today's competitive environment, has to continuously work on improvement of theirs products and services, based on customers' needs. Most widely used method for examine customer expectations and measuring satisfaction is researches, which goal is to evaluate company performance from customer angle and to give management tool for strategic planning. Surveys results have to be used as a base for defining improvements areas. In this article is shown example of company Delta DMD which do customer satisfaction researches twice a year, since 2007, and results of latest researches with guidelines for further improvements in company. .
This paper describes the competition between locations (cities, municipalities, states and regions) in attracting necessary resources, and the concept of marketing places as the most effective response to the challenges that locations are facing. Given that the attraction of foreign direct investment is one of the most important tasks of place marketing, the paper presents a model of behavior of foreign investors with the most important factors influencing their decision on the choice of location for investment. Understanding this process and adjustment of location as a product in accordance with investors expectations, are necessary preconditions for attracting foreign direct investment successfully. .
This study attempts to answer a basic customer management dilemma facing firms: when should the firm use behavior-based pricing BBP to discriminate between its own and competitors' customers in a c...
Price dispersion in simultaneous online auctions is a puzzle in light of the relatively low search costs required to find the lower price. Much of this price dispersion appears to be due to a lack of switching by bidders between auctions, which in turn could be due to inertia related to search costs. We identify some of the influencing factors through a controlled field experiment involving pairs of simultaneous auctions. Keeping the sellers and the goods sold identical between two auctions, we vary auction design features between and within pairs including shipping cost, open reserve, secret reserve price, and duration, and we provide bidders with incentives to search. We use a choice model that examines individual choice between pairs of simultaneous auctions. We find that within-pair price dispersion is substantial and that prices and auction choice by bidders are indeed related to search costs. We find strong inertia in auction choice and find that this effect significantly interacts with time left in the auction. Although individuals do not always choose a lower-priced auction, they are more likely to do so when search costs are low or search incentives are high.
The likelihood for copula modeling appears when both the data and the copula representations are seen as being driven by common uniform latent variables. This perspective facilitates Bayesian inference for prediction and copula selection.
In contemporary business management, which is characterized by intense competitive pressure, marketing is getting more and more dominant role. Companies on the market are more exposed to competitive pressure due to the growing number of suppliers (bidders) and substitutive products on the home market, and increase of foreign competition due to the world economy globalization. The success of marketing tools usage largely depends on the expected financial effects realization, as well as the survival of company on the market does, both in long and short terms. Brand marketing is a useful tool in modern business environment and it is an important source of competitive advantage. The concept and essence of brand have been significantly changed recently, compared to the period of twenty or more years ago. Brand is no more considered as just a label or sign, it is a tool that creates value for consumers and significantly contributes to improving the competitive position on the market. In brand creating process one should start from the elements that influence the creation of value for consumers and to consistently apply mechanisms to maximize the function of the brand on the market and enable companies to achieve maximum impact in terms of achievement of competitive advantage. It is important at the same time, in the respect of analysis of the financial payback investment in brand creating, to conceder brand impacts on the financial performance of the company. The aim of this paper is to point out the role, importance and concept of brand in modern marketing, and to highlight the role and way of creating value for consumers with help of the brand, which contributes to improving the competitive position and points out the brand influence on the financial performance of companies.
Estimating copula models using Bayesian methods presents some subtle challenges, ranging from specification of the prior to computational tractability. There is also some debate about what is the most appropriate copula to employ from those available. We address these issues here and conclude by discussing further applications of copula models in marketing.
Using the Bayes factor estimated by harmonic mean [Newton, M. A., A. E. Raftery. 1994. Approximate Bayesian inference by the weighted likelihood bootstrap. J. Roy. Statist. Soc. Ser. B. 56(1) 3–48] to compare models with and without cross-brand pass-through, Dubé and Gupta [Dubé, J.-P., S. Gupta. 2008. Cross-brand pass-through in supermarket pricing. Marketing Sci. 27(3) 324–333] found that, in the refrigerated orange juice category, a model with cross-brand pass-through was selected 68% of the time. However, Lenk [Lenk, P. J. 2009. Simulation pseudo-bias correction to the harmonic mean estimator of integrated likelihoods. J. Comput. Graph. Statist. 18(1) 941–960] has demonstrated that the infinite variance harmonic mean estimator often exhibits simulation pseudo-bias in favor of more complex models. We replicate the results of Dubé and Gupta in the refrigerated orange juice category and then show that any of three more stable finite variance estimators select the model with cross-brand pass-through less than 1% of the time. Relaxing the assumption that model errors are distributed normally eliminates all instances in which the cross-brand pass-through model is selected. In 10 additional categories, the harmonic-mean-estimated Bayes factor selects the model with cross-brand pass-through 69% of the time, whereas a finite variance estimator of the Bayes factor selects the model with cross-brand pass-through only 5% of the time. Applying arguments in McAlister [McAlister, L. 2007. Cross-brand pass-through: Fact or artifact? Marketing Sci. 26(6) 876–898], these 5% of cases can be attributed to capitalization on chance. We conclude that Dubé and Gupta should not be interpreted as providing evidence of cross-brand pass-through.