Value-based pricing in digital platforms: A machine learning approach to signaling beyond core product attributes in cross-platform settings

Christen, Tatjana; Hess, Manuel; Grichnik, Dietmar; Wincent, Joakim

doi:10.1016/j.jbusres.2022.07.042

Cited by 23 publications

(16 citation statements)

References 55 publications

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“…Therefore, within the context of an e-commerce website, return policy leniency (used as a signal) impacts consumer purchase decisions and is very important for consumers. Valuebased pricing on cross-platforms efforts within the accommodation industry (such as Airbnb and Booking.com) influence perceived customer value (Christen et al, 2022). In cross-platform efforts, seller history and channel brand history (beyond-core product attributes) help firms in predicting value-based pricing.…”

Section: Imr 412mentioning

confidence: 99%

“…In cross-platform efforts, seller history and channel brand history (beyond-core product attributes) help firms in predicting value-based pricing. Further attention should be given to beyond-core product attributes and timing of purchase decisions in price optimization (Christen et al, 2022). Despite the growing number of studies under this theme, more research is needed to examine various signaling efforts to reduce Internet based informational asymmetry.…”

Section: Imr 412mentioning

confidence: 99%

Section: Different Themes Of Literaturementioning

confidence: 99%

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Signaling theory and its relevance in international marketing: a systematic review and future research agenda

Shahid,

Tariq,

Paul

et al. 2024

IMR

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PurposeThe purpose of this paper is to analyze to what extent and in what ways signaling theory has been explored within the field of international marketing. This paper systematically reviews the use of signaling theory in the field of international marketing. Communication is a core aspect of the international marketing process. Research in this field has explored effective and unique ways of improving the communication flow to reduce the asymmetry of information between international consumers and the firm. This notion is adopted, enhanced and strengthened by signaling theory. Signaling theory has recently received the attention of international marketing scholars.Design/methodology/approachThe systematic review methodology was applied for the purpose of identifying the relevant studies. We extracted academic articles over the last 23 years from the domain of international marketing that directly contribute to signaling theory based on 57 journal articles extracted through the systematic review process.FindingsBased on systematic research the results reveal that the topic has grown and continues to expand within the broader international marketing field. We offer a theoretical conceptual framework to better understand signaling theory in the context of international marketing.Originality/valueThe authors map and critically evaluate the use of signaling theory in international marketing. Relevance of signaling theory in international marketing is growing and authors present an integrative framework that organizes the existing literature, and provides scholars to further expand on emerging themes of the domain. The paper offers some useful future research directions.

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Section: Imr 412mentioning

confidence: 99%

Section: Imr 412mentioning

confidence: 99%

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Signaling theory and its relevance in international marketing: a systematic review and future research agenda

Shahid,

Tariq,

Paul

et al. 2024

IMR

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“…Value-based pricing considers the customers' willingness to pay, competition, and the benefits and features of the product. This strategy allows businesses to capture better the value they provide to customers and create a more decisive competitive advantage (Christen et al, 2022;Garrison et al, 2019;Gross et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

“…The table suggests that Gen Zs are likely to consider the value and quality of a product before making a purchase decision. The mean scores for questions 13, 14, and 15 indicate that Gen Zs are likely to be influenced by value-based pricing strategies, as they are more likely to purchase if they believe that the product is worth the price and is of high quality(Christen et al, 2022;Garrison et al, 2019).…”

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confidence: 99%

Understanding Gen Z Consumer Preferences for Pricing Methods: A Case Study in Cebu, Philippines

Secretaria

Aranas

Pacubas

et al. 2023

EPRA

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This study investigates how pricing methods affect the likelihood of purchase decisions made by Generation Z (Gen Z). Data from a sample of Gen Z buyers were gathered using a descriptive survey method in order to examine the different pricing indicators on their purchase behavior. The findings revealed that pricing strategies significantly play a role in the purchasing behavior of Gen Z consumers, and the mean scores of the different pricing categories indicate their importance in the decision-making process. The study identifies that value-based pricing is critical to Gen Z consumers, who place significant emphasis on the perceived value of products. Hence, aligning pricing with product value can increase the likelihood of purchase. The findings also indicate that regular discounts or promotional offers can trigger the behavioral tendency of motivating Gen Z consumers to make purchases. The results also suggest that pricing strategy has a substantial impact on consumer loyalty and brand-switching behaviors. Companies can use pricing as a tool to encourage brand loyalty and reduce the likelihood of customers switching to competitor products. Offering personalized pricing and loyalty rewards are some ways to strengthen brand-consumer relationships. Finally, the findings suggest that pricing strategies are crucial to the purchasing decisions of Gen Z consumers. Businesses must prioritize pricing as a vital component of their marketing strategy and tailor it to meet the needs and preferences of this demographic. The study contributes to the existing literature by providing insights into the role of pricing on Gen Z consumer behavior and providing recommendations for businesses seeking to target this demographic. KEYWORDS: Gen Z, purchasing decisions, pricing, descriptive survey method, value-based pricing, discount pricing, brand loyalty, brand switching, marketing strategy, competitive advantage.

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Machine Learning Algorithms for Pricing End-of-Life Remanufactured Laptops

Turkolmez,

El Hathat,

Subramanian

et al. 2024

Inf Syst Front

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Due to the growing volume of e-waste in the world and its environmental impact, it is important to understand how to extend the useful life of electronic items. In this paper, we examine the remanufacturing process of end-of-life laptops for third-party remanufacturers and consider their pricing problem, which involves issues like a lack of reliable datasets, fluctuating costs of new components, and difficulties in benchmarking laptop prices, to name a few. We develop a unique approach that uses machine learning algorithms to help price remanufactured laptops. Our methodology involves a variety of techniques, which include an additive model, CART analysis, Random Forest, and Polynomial Regression. We consider depreciation and discount factors to account for the varying ages and conditions of laptops when estimating remanufactured laptop prices. Finally, we also compare our estimated prices to traditional prices. In summary, we leverage data-driven decision-making and develop a robust methodology for pricing remanufactured laptops to extend their lifespan.

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Value-based pricing in digital platforms: A machine learning approach to signaling beyond core product attributes in cross-platform settings

Cited by 23 publications

References 55 publications

Signaling theory and its relevance in international marketing: a systematic review and future research agenda

Signaling theory and its relevance in international marketing: a systematic review and future research agenda

Understanding Gen Z Consumer Preferences for Pricing Methods: A Case Study in Cebu, Philippines

Machine Learning Algorithms for Pricing End-of-Life Remanufactured Laptops

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