fdb – Forschungsdatenbank der Europa-Universität Viadrina Frankfurt (Oder)

Forschungsergebnis (Zeitschriftenartikel)

Florian Dost, Ingmar Geiger: Value-based pricing in competitive situations with the help of multi-product price response maps

Abstract

This article introduces multi-product price response maps for various value pricing applications in competitive situations. The maps are based on the direct elicitation of individual willingness to pay (WTP) as a range for competing products; they reveal an individual's or market's choice probability for a focal product, at its own and competing products' prices. Transforming the price response into profit, revenue, or unit sold maps supports optimal pricing decisions. The maps are also useful for optimizing profit differences from the closest competitor and for portfolio pricing. Managers can use a consumer indecisiveness map, gained from the WTP range data, to devise complementary marketing measures at prices where consumer uncertainty is high. The illustration of this approach uses two empirical examples, featuring two or more competing consumer goods, and demonstrates the predictive and external validity of these proposed maps.

Autor Florian Dost, Ingmar Geiger
Titel des Aufsatzes Value-based pricing in competitive situations with the help of multi-product price response maps
Jahr 2017
Zeitschrift Zeitschrift Journal of Business Research
Ausgabe / Nummer 76
Ranking B (VHB-Jourqual 2.1 (2011))

Einordnung in die Universitätsstruktur

Fakultät Wirtschaftswissenschaftliche Fakultät
Lehrstuhl Juniorprofessur für BWL, insbesondere Marketing

Bibliographische Angabe

Florian Dost, Ingmar Geiger: Value-based pricing in competitive situations with the help of multi-product price response maps. In: Journal of Business Research 76, 2017 .