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on Marketing |
| By: | David Ronayne; Greg Taylor |
| Abstract: | Abstract We study strategic interactions in a market where producers sell to consumers directly as well as via a competitive channel (CC) such as an online marketplace or price comparison website. We show how the size of the competitive channel can influence market outcomes. Equilibrium falls into one of two regimes: either the CC charges low commission and accommodates producers, or it charges high commission and faces strong competition from producers' direct sales channel. Seemingly procompetitive developments that increase the number of prices consumers check can raise prices and reduce consumer surplus. We also use the model to study an active policy issue concerning which channels should be allowed to utilize data about consumers' past purchases. |
| JEL: | D43 D83 L11 M3 |
| Date: | 2018–01–19 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:843&r=mkt |
| By: | Morais, Joanna; Thomas-Agnan, Christine; Simioni, Michel |
| Abstract: | This article presents a new approach to measure the impact of multi-channel advertising investments on brands’ market shares in the main segment of the French automobile market. We propose a multi-channel attraction model with adstock, in order to take into account the advertising carryover effect and the competition. This model allows to distinguish between short term and long term effect of the advertising. As, from a mathematical point of view, a vector of market shares is a composition belonging to the simplex space, i.e. subject to positivity and summing up to one contraints, we take benefit from the compositional data analysis (CODA) literature to estimate properly this model. We show how to determine the carryover parameters for each channel (outdoor, press, radio and television) in a multivariate way. We consider several model specifications with more or less complexity (cross effects between brands), including Dirichlet models, and we compare them using goodness-of-fit and prediction accuracy measures. We explain how to built confidence and prediction ellipsoids in the space of market shares. The impact of each channel on market shares is measured in terms of direct and cross elasticities. We conclude that in this market, radio only has a contemporaneous impact whereas outdoor, press and television have a large decay effect. Moreover, the advertising elasticities vary across brands and channels, and can be negative. It also turns out that positive interactions do exist between certain brands for certain media. |
| Keywords: | Market response model; fully extended multiplicative competitive interaction model; carryover effect; adstock; Koyck model; compositional data analysis; automobile market; multi channel advertising |
| JEL: | C10 C25 C35 C46 D12 M31 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:32347&r=mkt |
| By: | Jérôme Lacoeuilhe (IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - UPEM - Université Paris-Est Marne-la-Vallée); Selima Ben Mrad (Nova Southeastern University); Samy Belaïd (Ecole de Management de Normandie); Maria Petrescu (Nova Southeastern University) |
| Abstract: | The purpose of this paper is to develop a scale measuring consumers’ brand benefits in less developed economies. Based on the literature, items have been generated in qualitative and quantitative studies and tested by using exploratory and confirmatory factor analyses. The findings show that brand benefits converge into a two-factor structure (functional and symbolic) instead of three (functional, experiential and symbolic). These findings can be justified by the fact that consumers in developing economies do not have as much experience with brands as the ones from developed economies. The results also relate to previous literature findings on the topic of utilitarian and affective brand relationships. This scale can be used to advance the domain of brand benefits in a cross-cultural environment and can be employed by marketers when businesses plan to brand their products in developed economies. |
| Keywords: | Functional,Utilitarian,Symbolic,Affective,Measurement scale,Brand benefits,Less developed economies,Experiential |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01672929&r=mkt |
| By: | Aaron Arndt; David M Harrison; Mark A. Lane; Vicky L Seiler; Michael J. Seiler |
| Abstract: | We investigate whether customers' overall impression of online property listings can be influenced by the real estate agent, and whether this influence depends on the customer's demographic characteristics. A sample of 1,594 potential homebuyers took an online audio/visual tour of a typically priced home in their area. Subjects were shown one of eight conditions in which we varied agent gender (male/female), agent attractiveness (attractive/less attractive), and pathos (used/not used). The results show that segments of customers are drawn to different real estate agents, but contrary to our expectations, customers were not necessarily drawn to similar agents or more attractive ones. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:feb:framed:00629&r=mkt |
| By: | E. Carroni; L. Ferrari; S. Righi |
| Abstract: | Thanks to new digital technologies, web users are continuously targeted by offers that potentially fit their interests even if they are not actively looking for a product. Does this matching always promote transactions with high social value? We consider a model in which web users with state-contingent preferences are targeted by relevant banners. We characterize the optimal strategy of a seller who, in addition to the price of the offered good, designs a banner. We show that, in equilibrium, there is a positive relationship between the price of the offered good and the accuracy of the banner sent to users. Then, we consider the strategic decision of a Platform that attracts sellers because of its targeting abilities and we underline that a reduction in seller's costs may translate into less informative banners and lower prices, fueling purchases of goods that rational individuals may regret due to the persuasive nature of banners. |
| JEL: | D80 D82 D83 L10 M37 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1116&r=mkt |
| By: | ; Dorothy Watson, Christopher T Whelan, Bertrand Maître, James Williams; |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:rb20170404&r=mkt |
| By: | Aashish Argade; Laha, A. K. |
| Date: | 2018–01–12 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:14584&r=mkt |
| By: | Hajer Bachouche (IRG - Institut de Recherche en Gestion - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12); Ouidade Sabri-Zaaraoui (GREGOR - Groupe de Recherche en Gestion des Organisations - UP1 - Université Panthéon-Sorbonne - Institut d'Administration des Entreprises (IAE) - Paris) |
| Date: | 2017–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01619956&r=mkt |
| By: | Kim Oosterlinck; Anne-Sophie Radermecker |
| Abstract: | The value of a painting is influenced above all by the artist who created it and his reputation. Painters nowadays are easy to identify and are used to signing their artworks. But what about those whose names have not survived the test of time? This paper focuses on a particular subset of anonymous artists labelled with socalled provisional names (“Master of …”). After considering the origins and reception of the practice of creating names for unrecorded artists, we empirically investigate the market behavior of this niche segment. Based on comparative price indexes and hedonic regressions, we show that masters with provisional names have not only become autonomous brand names that are highly valued by the art market; they also outperformed named artists between 1955 and 2015. In the second phase, we analyze the provisional-name linked elements valued by the market. We find that art market participants pay attention to the creator of the provisional name, its long-term recognition and market visibility, and the typology of the names. |
| Keywords: | Market for Old Master Paintings; Masters with Provisional Names; Market Value; Brand Names; Price Indexes; Hedonic Pricing Model |
| JEL: | Z11 |
| Date: | 2018–01–19 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/264567&r=mkt |