Temporal product bundling with myopic and strategic consumers: Manifestations and relative effectiveness

Bundling in this era of eCommerce and high technology is a potent and widespread selling tool. The literature has focused on three static bundling strategies under which the products are sold separately (pure components or PC) or only in a bundled form (pure bundling or PB) or both (mixed bundling or MB). In a generalization, and motivated by real world examples, this paper examines the relative effectiveness of temporal bundling. We consider a firm that sells to a market of myopic and strategic consumers, and a selling season consisting of two stages. We compare four strategies – PC-PC (i.e., pure components in each of two stages), PB-PB, PB-PC and PC-PB – relative to MB. Our results show that PB-PB maximizes profits under low marginal costs; PC-PC prevails under high marginal costs given a large proportion of myopic consumers; and PB-PC is profit maximizing under moderate marginal costs when most consumers are strategic. These temporal strategies dominate MB except when the market is comprised entirely of strategic consumers. Finally, while temporal mixed bundling – MB-MB – is weakly superior to other temporal strategies, the latter are much easier to implement, as shown by real-world uses, and suffice to capture most of the profits. Related interesting pricing implications are discussed. Three extensions to the main model are also proposed.     

关于战略性新兴产业的理论思考

金融危机的爆发使世界各国认识到发展战略性新兴产业的重要性,不仅有利于转变经济发展方式、促进产业结构调整,而且能够带动传统产业升级,使传统产业获得新的生机。我国发展战略性新兴产业具有重要意义。     

对于我国乳业的发展趋势和战略选择的探讨

在目前的我国,乳业的发展面临着重重的障碍,在自身方面来说,有着自身企业的条件短缺、技术匮乏以及人员配置不合理等等的问题.在外在条件来看,国外优势的条件资源、资金以及等等诸多的方面都呈汹涌的形势涌入到国内,对我国的乳业造成了巨大的冲击.所以本文着重的对我国未来乳业所发展的方向和战略趋势进行探讨,目的是能为我国的乳业开辟出一条全新的途径.     

对于我国乳业的发展趋势和战略选择的探讨

在目前的我国,乳业的发展面临着重重的障碍,在自身方面来说,有着自身企业的条件短缺、技术匮乏以及人员配置不合理等等的问题.在外在条件来看,国外优势的奈件资源、资金以及等等诸多的方面都呈汹涌的形势涌入到国内,对我国的乳业造成了巨大的冲击.所以本文着重的对我国未来乳业所发展的方向和战略趋势进行探讨,目的是能为我国的乳业开辟出一务全新的途径.     

Direct marketing in the financial services industry

This article presents empirical research findings on the use of direct marketing by a representative sample of UK financial services institutions. A number of similarities and differences between banks, building societies and insurance companies are identified in relation to direct marketing programmes and the use of particular direct marketing techniques. While acknowledging some exceptions the research concludes that there is scope for a greater appreciation of the strategic value and workings of direct marketing. Institutions could usefully focus attention on achieving fuller integration of direct marketing with other marketing and communication activities and securing improvements in testing, database quality and timing.     

The strategic position of consumers in the information society

In this paper, a conceptual framework is outlined for examining the strategic position of consumers in a society in which computer networks are assigned an increasingly important role in the distribution of goods and services. The framework deals with relationships among consumers as well as relationships between consumers and other actors in the distribution system, and in both cases the relationships can be based on either common or conflicting interests. With the aid of the framework, the author characterizes the strategic position of consumers in terms of influence and power or powerlessness.The technological impacts dealt with are related to both the consumers' own use of computer technology, and its use by other parties such as suppliers and retailers. Examples of developments discussed in the paper are computerized checkout registers, electronic funds transfer systems, and home computers connected to central information systems.The author predicts that the strategic position of consumers will be weakened as the new technologies become more commonplace while the strategic position of the most powerful commercial and institutional actors is likely to be strengthened. A number of strategies for collective consumer action which could countervail this tendency, are outlined at the end of the paper.

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Die strategische Position der Verbraucher in der Informationsgesellschaft

Zusammenfassung Der Beitrag entwickelt zunächst einen Bezugsrahmen für die Beurteilung der strategischen Position von Verbrauchern in einer Gesellschaft, in der Computer-Netzwerke eine immer größere Rolle auch bei der Vermarktung von Gütern und Dienstleistungen spielen. Dieser Bezugsrahmen unterscheidet zwischen Beziehungen, die innerhalb der Konsumentenschaft bestehen, und solchen, die zwischen Konsumenten einerseits und anderen Akteuren im Verteilungssystem andererseits bestehen; in beiden Fällen können Beziehungen auf gemeinsamen Interessen wie auf einander entgegenstehenden Interessen beruhen. Mit Hilfe dieser Unterscheidung kennzeichnet der Autor die strategische Position von Verbrauchern durch die Möglichkeit ihrer Einflußnahme und durch ihre Machtstellung bzw. Machtlosigkeit.Die technologischen Wirkungen, mit denen sich der Beitrag beschäftigt, beziehen sich auf die Nutzung der Computertechnologien durch die Verbraucher selbst wie auch durch andere Marktparteien wie Hersteller und Händler. Als Beispiele werden Entwicklungen im Bereich der elektronischen Ladenkassen, des elektronischen Zahlungsverkehrs und der an zentrale Informationssysteme angekoppelten Home-Computer diskutiert.Der Autor gelangt zu der Prognose, daß die strategische Position von Verbrauchern mit zunehmender Verbreitung neuer Technologien tendenziell abnehmen wird, während die strategische Position der mächtigeren kommerziellen und institutionellen Akteure gestärkt werden dürfte. Der Beitrag schließt mit der Diskussion einiger Möglichkeiten kollektiver Verbraucheraktionen, die dieser Entwicklung entgegenwirken könnten.

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Sigmund Grønmo is Research Director, The Norwegian Fund for Market and Distribution Research, Fredensborgveien 24, N-0177 Oslo 1, Norway, and Professor of Sociology at the University of Oslo. During the academic year 1986–1987 he is a Visiting Professor at the Department of Marketing, Illinois State University.This article is a revised version of a paper presented at the symposium New Challenges for European Consumer Policy, held at Heiligkreuztal, FRG, on March 17–20, 1986, under the sponsorship of the European Cultural Foundation, the Commission of the European Communities, and IBM Deutschland. The author received very useful comments from other participants at the symposium, in particular from Klaus G. Grunert, Carl-Heinz Moritz, and Hans B. Thorelli. Furthermore, the author is grateful for comments received from several colleagues at the Norwegian Fund for Market and Distribution Research, at the University of Oslo, and at Illinois State University.     

The behavioural sequence of the financial services industry in Taiwan: Service quality,relationship quality and behavioural loyalty

This study develops and empirically tests a model for examination of the relations among service quality scales, relationship bonding tactics, customer satisfaction, trust and commitment, and customer behavioural loyalty in a relationship marketing system. This paper aims to test the relationship between perceived service quality satisfaction and relationship intentions, or, in other words, whether or not consumers will consider building long-term relationships with service providers on the basis of a single instance of perceived service quality. Based on three groups of samples from XYZ bank, one of the most famous banks providing merchant banking services in Taiwan, the findings suggest that financial products with different product attributes need different kinds and levels of service and relationship investment. The findings also suggest that there does exist a positive relationship between service quality satisfaction and perceived relationship investment.     

科技金融助推战略新兴产业的发展

战略新兴产业现已成为推动我国经济发展的重要力量,但其在发展中也遇到了一般科技型企业同样的融资难的问题。本文研究了科技金融及其在机制方面存在的问题,并介绍了其在机制方面的融资创新。试图通过将科技金融机制方面的创新应用到战略新兴产业上,解决其在发展中的资金问题,进一步推动战略新兴产业的发展,继而推动国家的发展。     

Computer information systems and strategic corporate planning

How are computers being used to support strategic corporate planning? And what does the future hold, especially for expert knowledge-based systems?     

Decision and information systems for strategic planning

Most modern organizations are concerned with how well their strategic planning systems guide the organization. The authors hold that effective strategic planning can be carried on only through the development and implementation of a strategic planning decision and information system (SPDIS). The concept suggests that strategic planning, the management information system, and the organizational structure and management processes are so interdependent that one subsystem cannot be effectively implemented without making appropriate changes in the others. The authors discuss the five critical elements of the SPDIS, recognizing the operational inter-dependence of the subsystems, focusing on support of the strategic decision-making aspect of the manager's job, and emphasizing the role of the manager.     

钢铁船舶着眼战略合作机制

中国船舶工业行业协会和中国钢铁协会于4月17日在北京共同组织了船板生产企业与使用企业座谈会。来自中船集团、中船重工集团等14家船厂与来自钢厂的代表就钢材问题进行充分交流,沟通,双方达成共识:造船行业和钢铁行业应建立长期稳定的战略伙伴关系,携手合作,共同发展,谋求双赢。作为船厂的代表我参加了座谈会,感受颇深,现谈一点体会,也是船厂全体与会     

产业升级视角下的战略性新兴产业选择及其影响因素

战略性新兴产业对产业升级的拉动作用体现在扩散作用、产生新的社会需求、吸收先进科技成果三个方面.产业升级中战略性新兴产业的形成路径有依靠市场机制、依据国家政策、遵循基本的市场规律的同时政府积极进行干预三种模式.战略性新兴产业的选择应遵循坚持技术前沿与适宜性的统一、市场容量、产业关联效果、产业集群四个基准.     

Assessing performance in services: the travel agency industry

The aim of this article is to compare different approaches to the evaluation of economic performance in tourism. For the first time in tourism, this article simultaneously applies traditional productivity measures as well as parametric and non-parametric techniques to estimate efficiency and compares the results obtained. The empirical application is carried out on a sample of 567 travel agencies operating in Spain in 2004. The results reveal important differences depending on the methodology employed. Overall, none of the methodologies can be said to be better than the rest. These results highlight the importance of considering different approaches when evaluating performance in tourism.     

The future of the global financial services industry

There are three fundamental technological shifts that are defining the competitive landscape of the early 21st century in financial service provision. First and foremost is distributed service provision: both deposit taking and credit provision are becoming more and more dispersed geographically, with less and less need for service providers and service users to meet face to face. The principal enabling technology is in advanced telecommunications, which allows for operation of widely dispersed automatic teller machines, videoconferencing, and internet operations. The second huge technological change that is underway concerns internal management information systems. Financial institutions are now able to put relevant data from affiliates and activities around the world into real-time globally accessible form. The third technological change is financial engineering, which involves creation of new financial products, often derived from existing credit or deposit-type instruments. This article explores the implications of these dramatic changes in the competitive landscape of financial service provision and suggests strategies for survival into the 21st century.     

中国广告产业集群化发展的战略选择与制度审视

本文运用产业集群理论,阐述了中国广告产业集群化发展的现实必需及其战略意义。文章在审视中国广告产业现状的基础上,指出中国广告公司要实现对广告业发达国家的超越,必须创新广告产业发展路径,走专业化-专门化-集群化-规模化的产业发展之路,专业化和专门化是集群化发展的基础和保障,规模化是集群化发展的必然走向,而公共政策的制度供给则是广告产业集群化发展的迫切需求。     

The implementation of strategic marketing planning techniques in British industry

This article reports the results of a large scale investigation into U.K. marketing management, designed to assess the effects of the recession and to identify the response of marketing management to the new challenges of the 1980s. The results are compared with previous research in this area although this is primarily concerned with North-American experience.     

How managers in the financial services industry ensure financial performance

With the wide prevalence of the balanced scorecard, this study develops and empirically tests a model examining the relations between the customer perspective (relationship bonding tactics, perceived relationship investment, customer satisfaction, trust, commitment and customer behavioural loyalty) and the financial perspective (financial performance). A cross-departmental study in the financial services industry was conducted based on three consumer samples (department of Loans, Deposits, and Credit Cards) drawn from XYZ bank, one of the most famous banks providing merchant banking services in Taiwan. The results show that the customer perspective does have positively significant effects on financial performance, as proposed by the BSC (Balanced Scorecard) and SPC (Service Profit Chain). In addition, the findings suggest that customers purchase financial services according to their perceived relationship to investment retailers, with corresponding bonding tactics, which results in different levels of customer satisfaction and behavioural sequences, and is important in reinforcing customers' trust, commitment, repurchase intentions and corporate financial performance.     

黑龙江省金融服务业现状研究

随着黑龙江省经济市场化和金融化的进一步发展,市场需求对经济增长的约束程度越来越强,金融业在经济运行中所起的作用日益增强。因此,大力发展金融业对于促进黑龙江省经济快速增长,提高综合经济实力,建设和谐稳定、繁荣富强的社会具有十分重要的意义。为此,要促进金融服务业的均衡发展,提升金融服务业水平,构筑和谐人才发展环境,建立完善的内部监管体系,强化政府政策导向,重塑良好金融环境。     

Islamic financial services industry: Aspirations and achievements

Islamic Financial Services Industry (IFSI) crosses the age of 40 years, and sufficient empirical evidence exists to evaluate in light of the distinctive aspirations. This study fills the gap in the literature by evaluating the performance of IFSI in light of Islamic finance objectives—financial stability, equitable distribution of wealth and social responsibility; Shari’ah principles, and professional practices. Our investigation documents the achievements based on real accounting data from 23 countries, and the suitability of tools in practice to achieve the stated objectives by promotors of IFSI. Findings suggest that the objectives of IFSI have been achieved to an extent. However, visible contribution to the achievement of socio-economic justice is yet to emerge. Practical application of tools shows divergence (in spirit) from the original design, primarily to achieve integration and coherence with the prevailing conventional financial system. IFSI needs collaborative efforts to overcome the challenges at hand.