An Empirical Analysis of Retail Pricing Strategies from an Operations Perspective
An Empirical Analysis of Retail Pricing Strategies from an Operations Perspective

Author: Ilyoung Jung

Publisher:

Published: 2014

Total Pages: 159

ISBN-13:

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Retail pricing strategies are a critical component of retail business decision making. In many business environments, the retailers' efforts such as promotions, discounts and markdowns are often used to stimulate consumer demand. This research is motivated by the strong belief that pricing policies are today, more than ever before, fundamental and critical to the daily operations of retail industry. The reason is probably because price is one of the most effective variables that managers can manipulate to encourage or discourage demand in the short run. One of the most powerful and effective strategic tools in retailing is pricing, for which the options available to retailers range from the everyday low price (EDLP) to promotional or high-low (Hi-Lo) strategies. The dissertation consists of three essays. The first essay examines the relationship between promotional prices and retail sales with the EDLP and Hi-Lo pricing strategies. The second essay identifies the elements of pricing decisions with store level data under different pricing strategies. The third essay performs to measure and compare the efficiency of both pricing strategies of retail chains according to different types of competition.

EDLP Versus Hi-Lo Pricing Strategies in Retailing
EDLP Versus Hi-Lo Pricing Strategies in Retailing

Author: Sabine El Husseini

Publisher: Schriften zu Marketing und Handel

Published: 2014

Total Pages: 0

ISBN-13: 9783631643570

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This work examines the topic of EDLP versus Hi-Lo pricing strategies in retailing. Based on a comprehensive conceptual examination of pricing strategies in retailing, the author conducted two large-scale empirical studies about the impact of the retailer's pricing strategy on store performance.

Prices
Prices

Author: Almarin Phillips

Publisher: University of Pennsylvania Press

Published: 2016-11-11

Total Pages: 264

ISBN-13: 1512805874

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The sixteen essays in this collection are organized around five themes. The first group is concerned with the pricing implications of recent developments in the theory of the firm. The subject of the second group is wage-price guidelines, in theory and practice. The third set deals with pricing in regulated industries, with special attention to marginal cost pricing. Marketing models and empirical studies of pricing behavior are considered in the fourth set of essays. And the final group, closely related to this, deals with the rationality properties of business pricing decisions and the implications of pricing practices for antitrust enforcement. If a common view on pricing emerges from these provocative and timely papers; it is that an eclectic approach to pricing theories, policies, and practices appears at this stage to be appropriate, since neither neoclassical theory nor recent amendments, extensions, or alternatives to it appear individually rich enough to embrace the full range of variety that pricing behavior affords.

The Expert Guide to Retail Pricing
The Expert Guide to Retail Pricing

Author: Kiran Gange

Publisher: Taylor & Francis

Published: 2023-07-07

Total Pages: 207

ISBN-13: 100091111X

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Going under the hood of retail strategy, this book provides in-depth coverage of how retailers can leverage the latest in data analytics and technology to improve profitability and customer value through pricing. Retail pricing is not about dollars, pounds or euros, but the value a customer associates with a product, which can and does change over time. To maximize revenues and profits, pricing must be dynamic, strategic, and in today’s hyper-connected and -competitive world, scientific. Using technology to gather customer insights and create data-driven pricing approaches can also enhance the customer experience, improve vendor management, help monitor competitors, and ensure market efficiency – including the much-needed reduction of waste in the food sector. This book uses case studies from around the globe to illustrate the evolution of retailing and offers takeaways with each chapter to enable retailers to manage the future of pricing. Retail and pricing managers, retail sector consultants, and students of sales and marketing will welcome this book’s innovative solutions to one of bricks-and-mortar retailing’s most critical challenges.

Retail Supply Chain Management
Retail Supply Chain Management

Author: Narendra Agrawal

Publisher: Springer

Published: 2015-04-20

Total Pages: 454

ISBN-13: 1489975624

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This new edition focuses on three crucial areas of retail supply chain management: (1) empirical studies of retail supply chain practices, (2) assortment and inventory planning and (3) integrating price optimization into retail supply chain decisions. The book has been fully updated, expanding on the distinguishing features of the original, while offering three new chapters on recent topics which reflect areas of great interest and relevance to the academic and professional communities alike - inventory management in the presence of data inaccuracies, retail workforce management, and fast fashion retail strategies. The innovations, lessons for practice, and new technological solutions for managing retail supply chains are important not just in retailing, but offer crucial insights and strategies for the ultimate effective management of supply chains in other industries as well. The retail industry has emerged as a fascinating choice for researchers in the field of supply chain management. It presents a vast array of stimulating challenges that have long provided the context of much of the research in the area of operations research and inventory management. However, in recent years, advances in computing capabilities and information technologies, hyper-competition in the retail industry, emergence of multiple retail formats and distribution channels, an ever increasing trend towards a globally dispersed retail network, and a better understanding of the importance of collaboration in the extended supply chain have led to a surge in academic research on topics in retail supply chain management. Many supply chain innovations (e.g., vendor managed inventory) were first conceived and successfully validated in this industry, and have since been adopted in others. Conversely, many retailers have been quick to adopt cutting edge practices that first originated in other industries. Retail Supply Chain Management: Quantitative Models and Empirical Studies, 2nd Ed. is an attempt to summarize the state of the art in this research, as well as offer a perspective on what new applications may lie ahead.

Retail Pricing Strategies and Market Power
Retail Pricing Strategies and Market Power

Author: Gordon Mills

Publisher: Melbourne Univ. Publishing

Published: 2002

Total Pages: 356

ISBN-13: 9780522850383

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This study of retail pricing strategies presents information on the practices used in a variety of sectors, such as supermarkets, banks and airlines. His analysis rests on several basic concepts which are introduced in the book.

The Theory and Practice of Revenue Management
The Theory and Practice of Revenue Management

Author: Kalyan T. Talluri

Publisher: Springer Science & Business Media

Published: 2006-02-21

Total Pages: 731

ISBN-13: 0387273913

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Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.

Handbook on the Economics of Retailing and Distribution
Handbook on the Economics of Retailing and Distribution

Author: Emek Basker

Publisher: Edward Elgar Publishing

Published: 2016-01-29

Total Pages: 513

ISBN-13: 1783477385

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This Handbook explores and critically examines current research in economics and marketing science on key issues in retailing and distribution. Providing a rich perspective for the discussion of public policy, contributions from several disciplines and continents range from the history of chains and the impact of multinational retailers on international trade patterns to US merger policy in the retail context, the rise of the Internet, and consumer-to-consumer sales. The chapters address methodological issues such as the structural estimation of entry games between retailers, productivity measurement when both inputs and output are not fully observable, and demand estimation with variable assortment. Policy issues explored include mergers, zoning, and the regulation of buyer power, while other chapters address some of the recent exciting developments in technology, retail formats, and data availability. The book goes on to study the changes in online retailing and ‘big data’, and to examine competition in specific retail sectors including gasoline stations, automobile dealerships, supermarkets, and ‘big box’ retail. This state-of-the-art Handbook is an essential reference for students and academics of economics and marketing science, and offers an outsider’s perspective to specialists in operations research, data analytics, geography, and sociology.

Operations in an Omnichannel World
Operations in an Omnichannel World

Author: Santiago Gallino

Publisher: Springer Nature

Published: 2019-10-15

Total Pages: 353

ISBN-13: 3030201198

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The world of retailing has changed dramatically in the past decade. Sales originating at online channels have been steadily increasing, and even for sales transacted at brick-and-mortar channels, a much larger fraction of sales is affected by online channels in different touch points during the customer journey. Shopper behavior and expectations have been evolving along with the growth of digital channels, challenging retailers to redesign their fulfillment and execution processes, to better serve their customers. This edited book examines the challenges and opportunities arising from the shift towards omni- channel retail. We examine these issues through the lenses of operations management, emphasizing the supply chain transformations associated with fulfilling an omni-channel demand. The book is divided into three parts. In the first part, “Omni-channel business models”, we present four studies that explore how retailers are adjusting their fundamental business models to the new omni-channel landscape. The second part, “Data-driven decisions in an omni-channel world”, includes five chapters that study the evolving data opportunities enabled by omni-channel retail and present specific examples of data-driven analyses. Finally, in the third part, “Case studies in Omni-channel retailing”, we include four studies that provide a deep dive into how specific industries, companies and markets are navigating the omni-channel world. Ultimately, this book introduces the reader to the fundamentals of operations in an omni-channel context and highlights the different innovative research ideas on the topic using a variety of methodologies.