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1.
While both retailer and competitor decisions contribute to long-term promotional effectiveness, their separate impact has yet to be evaluated. For 75 brands in 25 categories, the author finds that the long-term retailer pass-through of promotions is 65 percent, yielding a long-run wholesale promotional elasticity of 1.78 before competitive response. However, competitors partially match the wholesale price reduction by 15 percent, which decreases promotional elasticity by 10 percent. The range of retailer and competitor response across the analyzed cases is very wide, and is affected by category and brand characteristics. As to the former, large categories yield stronger retailer response, while concentrated categories yield stronger competitor response. As to the latter, smaller brands face a fourfold disadvantage compared to leading brands: they obtain lower retail pass-through, lower retail support, and lower benefits from competing brand's promotions, while their promotions generate higher benefits to competitors. Interestingly, the mid-1990s move from off-invoice allowances towards scan-back deals only partially improves their promotional effectiveness compared to that of leading brands. 相似文献
2.
This study examined the impacts of retail promotions on the demand for five brands of orange juices for a retail chain (referred to as Retailer X) and its competitors using the Rotterdam model. Results show that the combination of feature ads and displays had the largest impacts on retail revenue among the four promotional tactics considered, whereas temporary price reductions had no advertising impacts on retail revenue. Results also show that when Retailer X promotes an orange juice (OJ) brand using any of the tactics, a larger portion of the increased demand for the promoted brand comes from reduced demand for other brands of OJ in the same store or chain.A smaller portion comes from the decreased demand in Retailer X's competing stores in the same trading area. 相似文献
3.
With the rapid development of the Internet, many manufacturers nowadays use online technology to engage in direct sales. The mix of retailing with a direct channel adds a new dimension of competition and complementarity to a product's distribution channels. Our model focuses on the strategic role played by the retail services in a dual-channel competitive market. The manufacturer uses a direct channel as an effective tool to motivate the retailer to improve its retail services and profits from it. While operated by the manufacturer to motivate retailer to perform more effectively from the manufacturer's perspective, the direct channel may not always be detrimental to the retailer because the retailer can obtain a lower wholesale price from the manufacturer and a higher sales volume from the improved retail services. In our research, our results suggest that the improved retail services effectively alleviate the channel competition and conflict and improve the supply chain performance in a competitive market. 相似文献
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5.
Hui-Ming Deanna Wang Ram Bezawada Julia C. C. Tsai 《Journal of Marketing Channels》2013,20(3):219-242
There has been a blurring with respect to the retail formats because of competition and proliferation of different types of formats. In this research, we use a unique scanner panel dataset to investigate how brand choice behavior varies for the same consumer shopping for the same brand across different retail formats. We develop hypotheses pertaining to promotion sensitivity, price sensitivity, package size preference, and effects of demographic and shopping variables on consumer brand choice behavior and test them using a multi-format probit choice model that allows for the estimation of the cross-format differences with respect to the above. We find that consumers exhibit different promotion and price sensitivities in brand choice behavior between the mass merchandise format and supermarkets. Discussions and insights are provided. 相似文献
6.
《Journal of Marketing Channels》2013,20(3-4):131-145
Abstract Promotional strategies used by manufacturers (or retailers) influence not only their own outcomes, but also the outcomes of retailers (or manufacturers). As cooperation of both the parties is needed for successful implementation of promotional strategies, the promotions used by either party should provide outcomes that are positive for the other party. The authors propose a framework for examining (1) the effect of promotional strategies on both manufacturer and retailer profitability and (2) which of two promotional strategies (retail price cut or coupon promotion) yields greater total profitability to achieve an exogenously given sales level. The proposed framework also helps in identifying conditions when conflict is likely to occur between manufacturer and retailer, and suggests a cooperative strategy to resolve the conflict. 相似文献
7.
We study how the intensity of competition and the degree to which manufacturers enjoy market power depends on the retail environment in a given market. Past research has discussed the growing importance of retailers and the power they enjoy over manufacturers. Yet, the empirical literature to date has not determined which retail characteristics have the largest impact on competitive behavior.Our starting point is the estimation of a structural demand-and-supply model, where both consumers’ decisions and the strategic interactions between manufacturers and retailers are explicitly modeled. We identify the type of competitive behavior of manufacturers by measuring the deviation from a Bertrand-Nash equilibrium. This measure of competitive conduct is expressed as a function of key retail characteristics such as size of the retailer, its assortment depth, and category expertise.We illustrate the proposed approach using data for the ground coffee category in Germany. Our findings indicate that retail characteristics have indeed a significant effect on competitive intensity among upstream firms and on their ability to exercise market power. Hence, a manufacturer considering entry into a new market should not only take into account its competitors but also the specifics of the retail environment in this market. 相似文献
8.
Like any new product, private label entry increases competition within a category leading to downward pressure on both wholesale and retail prices. But, given the higher margins for private labels and potential bargaining benefits for retailers, they have incentives to help private labels gain market share. The paper addresses two questions: First, do private labels enhance a retailer’s bargaining power with respect to manufacturers? Second, given the higher profitability and potential increase in bargaining power, does the retailer strategically set retail prices to favor and strengthen the private label? We find support for the “bargaining power” hypothesis, but qualified support for the “strategic retailer pricing” hypothesis. Retailers gain bargaining power through lower wholesale prices on imitated national brands. But the gain is greater in niche categories than in mass categories, suggesting that niche national brands with limited “pull” power lose greater bargaining power. In terms of strategic pricing, the retailer, on initially introducing the private label, strategically sets prices to help private labels gain market share in high volume mass market categories. But retail prices revert to the category profit maximizing price after a year when the private label gains a stable market share. 相似文献
9.
Professor Enrico Colla 《International Review of Retail, Distribution & Consumer Research》2013,23(3):353-373
Abstract The aim of this article is to demonstrate that the French Galland Act, outlawing below-cost resale via new and more severe invoicing regulation, has reduced the intensity of price competition among retailers in relation to branded goods. Moreover, the reduced intensity of price competition in the retail industry has encouraged a lessening of competition among the manufacturers of major industrial brands. Together, these two effects have sown the seeds of a sustained increase in the price of major brands, accentuating retail competition based more on differentiation than on price. These sustained policies have favoured the development of retailer brands and of hard discount stores and finally encouraged new types of reactions from major retailers and leading manufacturers, such as new types of promotions circumventing the Galland Act and a more intense lobbying activity in order to reform it. 相似文献
10.
零售业态在美国得到了空前的发展,且已相当成熟,对美国业态的发展研究将会使我们从中受到启示:政府根据具体经济环境鼓励发展无店铺、杂货店、保健品店等多种业态,而且,在业态结构的管理上要进行优化,使之均衡发展,此外政府应该建立信息平台和预警体系,为零售业态健康发展提供保障。 相似文献
11.
Need for closure (NFC) is introduced as a variable of individual difference that shows promise to help the understanding of a consumers' effort to search for price and promotional information in the context of retail grocery shopping. Results showed that NFC and perceived time pressure (PTP) are important determinants of search effort for price and promotional information (e.g., searching for coupons, looking for in‐store promotions, switching stores to find lowest prices, and comparing unit prices). Moreover, an interaction effect was found between NFC and PTP. Future research and theoretical and practical implications are discussed. © 2005 Wiley Periodicals, Inc. 相似文献
12.
Bridge,Focus, Attack,or Stimulate: Retail Category Management Strategies with a Store Brand 总被引:1,自引:0,他引:1
We investigate a monopolist retailer's category management strategy where the main strategic decisions are how to horizontally
position a store brand relative to the incumbent national brands and how to price the store and national brands for retail
category profit maximization. We analyze a market composed of two consumer segments with differing tastes and heterogeneity
with respect to willingness to pay and a product category consisting of two competing national brands and one store brand.
We find that contrary to the existing literature, it is not always optimal for a retailer to position its store brand against
the leading national brand; instead there are many situations where it is best to position the store brand close to the weaker
national brand or to position it in the “middle” so it appeals to both national brands' target segments. In the process we
identify four distinct category management strategies that a retailer can use with a store brand. In three of these the optimal
store brand price is the brand's monopoly price, while in the remaining one strategy the price is lower. We also suggest an
easy to implement means for a retailer to determine which strategy is best to use, depending on the particular competitive
environment present before the introduction of the store brand and the relative quality of the store brand. We find that the
store brand entry is most beneficial to the retailer when the national brands are moderately differentiated. Finally we show
that introducing a store brand not only allows the retailer to garner a higher share of the channel profits through higher
retail margins, but also often provides the retailer the benefit of increases in national brand unit sales as well as incremental
sales from the store brand.
JEL Classification: M310 相似文献
13.
On manufacturers complementing the traditional retail channel with a direct online channel 总被引:6,自引:0,他引:6
With the explosion of the Internet and the reach that it affords, many manufacturers have complemented their existing retail channels with an online channel, which allows them to sell directly to their consumers. Interestingly, there is a significant variation within product categories in manufacturer's use of the Internet as a direct distribution channel. The main objective of this study is to examine the strategic forces that may influence the manufacturer's decision to complement the retail channel with a direct online channel. In particular, we are interested in answering the following questions:
- Why is it that in some markets only a few firms find it optimal to complement their retail channels with a direct Internet channel while other firms do not?
- What strategic role (if any), does the direct Internet channel serve and how do market characteristics impact this role?
14.
随着电子商务市场的日益成熟,制造商建设线上直销渠道来适应新的商品销售环境成为趋势。制造商线上直销渠道的建立占领了部分原本属于线下零售渠道的市场份额,对线下零售渠道造成冲击。针对双渠道供应链中的竞争,将零售商销售努力行为考虑在内,通过构建博弈模型分别研究了在集中决策模式和分散决策模式下,制造商与零售商的定价策略。研究发现,在集中决策模式下,线下零售渠道与线上直销渠道之间的价格差异随着两个渠道潜在需求量之间差异的增大而增大,并且两个渠道的最优价格分别与其市场潜在需求成正比。在分散决策模式下,两个渠道的最优价格亦与潜在需求成正比,并且线下零售渠道的最优价格随零售商销售努力程度的增加而增加,线上直销渠道的最优价格随着零售商销售努力程度的增加而减少。 相似文献
15.
《Journal of Retailing》2022,98(1):71-91
This study presents a systematic review of literature covering 178 articles relating to physical store-based grocery retail formats. The research questions for the review were based on drivers of consumer choice and response to marketing activities across store formats, competitive effects and conduct in the context of format evolution, and the interplay of retail formats with societal stakeholders and environmental context over time. The review reveals substantial evidence on drivers of shopper choice among formats including intrinsic household characteristics, time value factors, shopping goals and motivations, and actionable retailer factors such as location, assortment, pricing, promotion. The evidence is scarcer where such marketing activities are difficult to vary. There is limited consensus that inter-format competition is more intense than intra-format. The modernization of formats globally was found to change the way they compete and how consumers behave toward them. There is evidence of substantial impact of entry of new formats, but less guidance for incumbent retailers on how they should respond. Several gaps were identified, and research directions included a typology for format types, the role of technology, a call for more causal evidence, and deepening the empirical base for intra- versus inter-format competition and drivers of format choice. 相似文献
16.
《International Journal of Research in Marketing》2023,40(1):226-247
The diverging interests of manufacturers and retailers famously give rise to the double marginalization problem but have consequences far beyond pricing. Advertising is another marketing instrument that is under the control of the manufacturer but its ultimate effect on consumer demand also depends on retailers’ pricing decisions. We decompose the effect of advertising in the channel and highlight an additional route through which advertising affects sales, namely via the changes in the retail price that a strategic retailer makes in response to changes in demand following manufacturer advertising. The total demand effect of advertising thus comprises the direct effects of advertising on market shares, and the indirect effects coming through adjustments that the retailer makes to the in-store prices of all the brands in a given product category in response to the shifted demand due to advertising. We match advertising data for four different categories (both food and non-food) to store-level scanner panel data, which also include information on wholesale prices. Controlling for wholesale prices, we establish in a reduced-form model that the retailer reacts to manufacturer advertising by changing retail prices instead of simply imposing a constant markup on the wholesale price. To further explore the role of the strategic response of the retailer in a systematic fashion and quantify the effects derived in the decomposition, we estimate a discrete-choice model of demand and determine the magnitude of the direct and indirect effects. We find that the indirect effect of advertising through retailer prices is about half the size of the direct effect, and thus substantively affects advertising effectiveness. 相似文献
17.
ABSTRACTChange has often been said to characterise retailing, and research on retail change is extensive. However, though much of that research has focused on retail formats, it has not sufficiently addressed the fluid nature of retailing and how its formats emerge. This paper offers a more dynamic conceptualisation of retail format change by introducing the concept of retail formation. Taking a constructivist market studies approach and drawing upon an ethnographic study of a Swedish consumer electronics retailer, the paper shows how retail formations are continually being made in a dynamic process that can be initiated by various actors, does not necessarily follow a logical order, and commonly produces unexpected results. The concept of retail formation allows us to better understand the increasing fluidity of retailing enabling us to trace complex market processes, examine multiple actors simultaneously, and taking into account the socio-historical and socio-cultural dynamics involved in shaping retail markets. 相似文献
18.
“One-deal-fits-all?” On Category Sales Promotion Effectiveness in Smaller versus Larger Supermarkets
Even within a store chain and format, supermarket outlets often exhibit substantial differences in selling surface. For chain managers, this raises the issue of correctly anticipating the promotion lift, and of profitably managing promotion activities, across these outlets. In this paper, we conceptualize why and how store size influences the category sales effectiveness of four promotional indicators (depth of the promotional discount, display support, feature support, and whether the promotion is quantity-based). We then estimate the net moderating effect on four product categories for 103 store outlets belonging to four chains. For each of the promotion instruments, we find the percentage sales increases to be lower in large stores. For instance, whereas a 10% point increase in feature activity enhances category sales by about 1.64% in a 700 m2 store, this figure drops to only 1.03% in a 1300 m2 store – a 59% reduction. This moderating effect is especially pronounced for discount depth, the relative sales lift from a typical price cut being about 78% lower in the larger-sized outlet. However, since large outlets also have larger base sales, the picture changes when we consider absolute sales effects. The net outcome is that deeper discounts or quantity-based promotions do not systematically generate larger or smaller absolute sales bumps in large stores, whereas for in-store displays and features, we obtain a clear positive (be it less than proportional) link between store size and absolute category sales lift. When it comes to margin implications, we show that large stores gain higher profit from price cuts than small outlets only as long as the retailer keeps part of the manufacturer discount to himself. Managers can use these insights to improve their promotional forecasts across outlets, as well as to tailor their mix of instruments to store selling surface. 相似文献
19.
Supermarket retailers typically operate with relatively low margins, suggesting a highly competitive retail environment. However, despite the fact that consumers purchase an entire shopping basket at a time from supermarkets, this evidence is largely based on models of retail competition with single-category purchases. In this paper, we develop and test an empirical model of retail price competition that explicitly accounts for the effect of demand complementarity among items in consumer shopping baskets. Relative to the case where consumers purchase products with independent demands, we demonstrate that equilibrium prices are higher for all items when retailers take demand-complementarity into account. Our findings indicate that non-price strategies intended to encourage complementarity, such as co-merchandising, strategic shelf-positioning, or featuring complementary goods tend to soften price competition, and lead to higher equilibrium prices. 相似文献
20.
Targeted promotions in retail are becoming increasingly popular, particularly in UK grocery retail sector, where competition is stiff and consumers remain price sensitive. Given this, a targeted promotion algorithm is proposed to enhance the effectiveness of promotions by retailers. The algorithm leverages a mathematical model for optimising items to target and fuzzy c-means clustering for finding the best customers to target. Tests using simulations with real life consumer scanner panel data from the UK grocery retailer sector show that the algorithm performs well in finding the best items and customers to target whilst eliminating “false positives” (targeting customers who do not buy a product) and reducing “false negatives” (not targeting customers who could buy a product). The algorithm also shows better performance when compared to a similar published framework, particularly in handling “false positives” and “false negatives”. The paper concludes by discussing managerial and research implications, and highlights applications of the model to other fields. 相似文献