{"title":"Online Price Dispersion: An International Comparison","authors":"D. Bounie, B. Eang, M. Sirbu, P. Waelbroeck","doi":"10.2139/ssrn.1625847","DOIUrl":"https://doi.org/10.2139/ssrn.1625847","url":null,"abstract":"Online price dispersion has remained a puzzle for many years. In this article, we test the effects of a range of factors identified in the literature including vendor strategy, market structure, vendor heterogeneity and the time dimension. We use a dataset collected from the Amazon.com, Amazon.uk and the Amazon.fr marketplaces for books, CDs and DVDs from March to November 2006. First, using posted prices, we show that vendors make few modifications to their prices over time (once every 20 to 30 days), and those variations that they do make are relatively small (on average 15 cents). Secondly, we compare posted prices to transaction prices and we show that transaction prices do not necessarily correspond to the lowest posted price but rather centered around the median prices. Thirdly, we show that online price dispersion increases with the number of sellers mainly because new sellers price their product significantly lower that the current median price. Fourth, we show that there is a significant reputation premium of about 10 to 15%. A well established seller can charge a price 10 to 20% higher than the average seller. Our estimation results support the idea that price dispersion is sensitive to the maturity of the market. Consistent with our finding that price dispersion increases with the number of sellers, less mature markets, such as France with fewer sellers, exhibit lower price dispersion. Similarly, we find that large sellers account for a greater proportion of transactions in France than in the U.S. Lastly, we find that public policy can affect price dispersion: a French law limiting discounting on new books results in lower price dispersion in the French book market relative to book markets in the US and UK and relative to the French market for other goods.","PeriodicalId":238042,"journal":{"name":"ERPN: Pricing Strategies (Sub-Topic)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125906867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Freemium: Attributes of an Emerging Business Model","authors":"Nicolas Pujol","doi":"10.2139/SSRN.1718663","DOIUrl":"https://doi.org/10.2139/SSRN.1718663","url":null,"abstract":"How does freemium work as a model and in practice? This paper draws concepts from the book The Mind Share Market: The Power of an Alternative Currency, by the same author.A term increasingly used in commerce, freemium designates a business model using two products or services, or a combination of products and services. In such combination, one item is provided at no charge while a complementary item is sold at a positive price to the same general group of customers. This paper first provides the necessary foundations to understand the model and describes 13 monetization strategies used in 3 types of freemium: quantity (volume, time), feature, and distribution. Second, it defines two distinct transactions taking place during the sale cycle: one using money, and the other using mind share as an alternative currency. Third, the paper considers freemium's attributes relative to multi-sided markets, specifically the presence of distinct sub groups of users and customers and how their interdependence generates indirect network effects.","PeriodicalId":238042,"journal":{"name":"ERPN: Pricing Strategies (Sub-Topic)","volume":"334 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116650954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Private Label Introduction: Does It Benefit the Supply Chain?","authors":"M. Sachon, Víctor Martínez-de-Albéniz","doi":"10.2139/ssrn.1506943","DOIUrl":"https://doi.org/10.2139/ssrn.1506943","url":null,"abstract":"Private labels, also called store brands or distributor brands, have changed the retail industry during the last three decades. Consumer data shows strong growth of private label market share, and in countries like Germany or Spain, the penetration of private labels is above 30% of total retail sales. This paper analyzes the channel dynamics in a category where a private label is introduced. We focus on the impact of private labels on retail and wholesale equilibrium prices, as well as on the profits of each firm of the supply chain. While private label introduction helps the retailer reduce manufacturer brand's prices, we find that it does not always improve the total profits of the supply chain. Generally, the supply chain benefits from this introduction only when cross-elasticities are small, i.e., competitive interactions are weak. With our model, we formulate the general conditions under which retailers should consider introducing private labels.","PeriodicalId":238042,"journal":{"name":"ERPN: Pricing Strategies (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130315815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Procurement Mechanism Design in a Two-Echelon Inventory System with Price-Sensitive Demand","authors":"Fuqiang Zhang","doi":"10.2139/ssrn.1281688","DOIUrl":"https://doi.org/10.2139/ssrn.1281688","url":null,"abstract":"This paper studies a buyer's procurement strategies in a two-stage supply chain with price-sensitive demand. The buyer procures a product from a supplier and then sells to the marketplace. Market demand is stochastic and depends on the buyer's selling price. The supplier's production cost is private information, and the buyer only knows the distribution of the cost. Both the buyer and the supplier can hold inventories to improve service, and a periodic-review inventory system is considered. The buyer takes two attributes into consideration when designing the procurement mechanism: quantity attribute (i.e., the total purchase quantity) and service-level attribute (i.e., the supplier's delivery performance). We first identify the optimal procurement mechanism for the buyer, which consists of a nonlinear menu of contracts for each of the two attributes. It can be shown that the optimal mechanism induces both a lower market demand and a lower service level compared to the supply chain optimum. In view of the complexity of the optimal mechanism, we proceed to search for simpler mechanisms that perform well for the buyer. We find that the above two attributes have different implications for procurement mechanism design: The value of using complex contract terms is generally negligible for the service-level attribute, whereas it can be highly valuable for the quantity attribute. In particular, we demonstrate that a fixed service-level contract, which consists of a target service level and a price-quantity menu, yields nearly optimal profit for the buyer. Additionally, the price-quantity menu is essentially a quantity discount scheme widely observed in practice.","PeriodicalId":238042,"journal":{"name":"ERPN: Pricing Strategies (Sub-Topic)","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130431937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"'…But the name will never be forgotten' (Eine Bestandsaufnahme der Psychologie des Markennamens)","authors":"M. Spörrle, A. Tumasjan, F. Becker, K. Moser","doi":"10.2139/ssrn.1833410","DOIUrl":"https://doi.org/10.2139/ssrn.1833410","url":null,"abstract":"The present article provides an overview of empirical research concerning the brand name as an integral component of the brand image that can be regarded to be of pivotal importance for a company’s marketing activities. After a short outline of effects of a brand name on consumption activities and the consumer himself we provide short explanations of key concepts followed by a review of empirical findings concerning brand names together with practical implications for brand name design. By doing so, we focus on brand names’ conciseness, distinctiveness, and meaningfulness as well as the consequences of these aspects on perception, impression, evaluation, learning, and retrieval of brand names. Semantic and phonetic aspects of brand name design are extensively discussed. We conclude that an integration of the presented recommendations with target group market research as well as the general marketing strategy is recommendable to develop an ideal brand name.","PeriodicalId":238042,"journal":{"name":"ERPN: Pricing Strategies (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124354872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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