Details
Estimation of Willingness-to-Pay
Theory, Measurement, Application|
85,59 € |
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| Verlag: | Deutscher Universitätsverlag |
| Format: | |
| Veröffentl.: | 03.11.2007 |
| ISBN/EAN: | 9783835092440 |
| Sprache: | englisch |
| Anzahl Seiten: | 135 |
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Beschreibungen
The work of Christoph Breidert is positioned in a methodologically challenging area of marketing research that is highly relevant to both theoretical investigations and practical apphcations. Determination of willingness-to-pay for products and/or services from a customers per spective is crucial for modern approaches to pricing decision-making. Based on the in creasing availability of individual transaction data (e. g. , scanner data, consumer panel data, and data from Smart Cards) remarkable improvements have been achieved in es timating advanced price response models based on observed purchase data. However, empirical price and/or product variations are typically very Umited in such historical data which complicates accurate willingness-to-pay estimation or makes it even imprac tical. This is especially true when entirely new products are planned to be introduced or alternative marketing strategies (e. g. , product bundhng) are considered by the manage ment. While asking customers directly for their wiUingness or unwillingness to purchase a specific product at the designated price commonly results in unreahstic estimates, ex perimental survey-based methods turned out to be a promising approach for the indirect measurement of willingness-to-pay. Among the most prominent techniques within this methodological framework is conjoint (or trade-off) analysis, which aims at inferring re spondents preference structures based on their reactions to systematically varied profiles of product attributes (mostly including price) in an experimental design. In his work, Christoph Breidert provides a systematic overview of the competing methods that have been and are still applied in todays practical and theoretical pricing research.
Pricing in the Marketing Mix.- Willingness-to-Pay (WTP) in Marketing.- Measuring Willingness-to-Pay.- Conjoint Analysis.- Conjoint Analysis in Pricing Studies.- Price Estimation Scene (PE Scene).- Empirical Investigation: Nokia study.- Summary and Main Findings.
Dr. Christoph Breidert promovierte an der Wirtschaftsuniversität Wien bei Prof. Dr. Wolfgang Janko, Institut für Informationswirtschaft und Prof. Dr. Thomas Reutterer, Institut für Handel und Marketing. Er ist als Technology Analyst für PONTIS Venture Partners in Wien tätig.
To determine the willingness-to-pay (WTP) for products and/or services from a customer perspective is crucial for modern approaches to pricing.<br>
<br>
With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate WTP. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. The customers indicate whether they would actually purchase the presented product profiles. The PE scene is tested in an empirical investigation in which the WTP of the customers of the Nokia online shop in Germany was estimated for different product bundles.<br>
<br>
With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate WTP. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. The customers indicate whether they would actually purchase the presented product profiles. The PE scene is tested in an empirical investigation in which the WTP of the customers of the Nokia online shop in Germany was estimated for different product bundles.<br>
To determine the willingness-to-pay (WTP) for products and/or services from a customer perspective is crucial for modern approaches to pricing.<br>
<br>
With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate WTP. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. The customers indicate whether they would actually purchase the presented product profiles. The PE scene is tested in an empirical investigation in which the WTP of the customers of the Nokia online shop in Germany was estimated for different product bundles.<br>
<br>
With the Price Estimation scene (PE scene) Christoph Breidert introduces a new method to estimate WTP. It works as an additional interview scene appended to conjoint analysis and offers the respondents a dynamically generated sequence of product choices with assigned prices. The customers indicate whether they would actually purchase the presented product profiles. The PE scene is tested in an empirical investigation in which the WTP of the customers of the Nokia online shop in Germany was estimated for different product bundles.<br>
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