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DiMicco, Joan Morris; Maes, Pattie; Greenwald, Amy

doi:10.1023/a:1023427023289

Cited by 43 publications

(5 citation statements)

References 17 publications

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“…However, this may not be realized if the society fixes price indiscreetly without taking cognizance of the variations in the financial capacity and socio-economic situations of the members. The realization of dynamic pricing in organizations, therefore, depends on the ability to divide buyers into diverse groups with dissimilar levels of preparedness to pay (Dimicco et al, 2003). The crux of the matter is that the price of goods stocked by Islamic cooperative societies can be relaxed for poor members, either by the sacrifice made by a seemingly opulent faction of the society or better yet, through the significant reduction on the price that has been received from the market due to bulk purchase.…”

Section: Dynamic Pricing and Members Loyalty To Islamic Cooperative Societymentioning

confidence: 99%

H. alal¯ Marketing Practices and Performance of Cooperative Societies in Ilorin Metropolis, Kwara State, Nigeria

Ismaila

Olamilekan

Ajoke

2020

J. Islam. bus. manag.

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The rise in the number of Muslims who desire to comply with Islamic religion prescriptions had led to the existence of strong demand for h . alāl products which most business firms now try to supply. This research examined h . alāl marketing practices and the performance of cooperative societies in Ilorin metropolis. It uses members' patronage of h . alāl product offering and loyalty to dynamic product pricing as measures of performance. Multi-stage sampling procedure was adopted to determine the suitable sample size from the target population and multiple regression analysis was employed as the analytical technique. Finding revealed that h . alāl product offering has a significant influence on members' patronage of Islamic cooperative societies.

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Section: Dynamic Pricing and Members Loyalty To Islamic Cooperative Societymentioning

confidence: 99%

H. alal¯ Marketing Practices and Performance of Cooperative Societies in Ilorin Metropolis, Kwara State, Nigeria

Ismaila

Olamilekan

Ajoke

2020

J. Islam. bus. manag.

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“…Teng and Thompson [13] proposed a model to maximize profit of a monopolist by determining optimal pricing and quality strategies. DiMicco et al [14] and Raman and Chatterjee [15] suggested that manufacturers have the prospective to boost their income by selling the goods at customized price to buyers when the price is dynamic in nature. Wu et al [16] proposed a model to maximize the profit by determining the optimal price and warranty-length strategies for a product with normal lifetime distribution.…”

Section: Literature Reviewmentioning

confidence: 99%

New Product Launching with Pricing, Free Replacement, Rework, and Warranty Policies via Genetic Algorithmic Approach

Kumar

Sarkar²,

Sharma

et al. 2019

IJCIS

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New products are appearing in the marketplace at an ever-increasing step. Their launching is either market driven, or technology driven. Pricing and warranty policies play a vital role in launching of a new product, consequently growth of a company. In this paper a decision model is proposed to determine the pricing and warranty polices of a newly launched product considering free replacement during warranty period, and reworking during production process. We have assumed that the reworking is performed for the defective items, which are produced when a machine shifts from in-control state to out-of-control state to make them perfect. Profit function is formulated by combining the diffusion models and cost model. Structured optimal policies are proposed using optimal control theory and genetic algorithm solution approach is employed to explore the optimum values of price and warranty for every period of the product's life cycle. Numerical example is presented considering different values of model parameters. Further, sensitivity analysis is performed to study the impact of model parameters on the profit model. The results of the paper will be greatly useful for the decision-makers, as it allows them to identify the role of the selected parameters during the entire life cycle of the product, and to study the long-term policy of a newly launched product.

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“…Among different pricing strategies, however, both companies and consumers seem to favor dynamic pricing (Dimicco et al, 2003;Kimes, 1989;Sahay, 2007). Dynamic pricing refers to making price changes in a response to marketplace demand that can be implemented in several different ways (Dimicco et al, 2003;Farahmand and Chatterjee, 2008).…”

Section: Uniform Pricing and Dynamic Pricingmentioning

confidence: 99%

“…Dynamic pricing refers to making price changes in a response to marketplace demand that can be implemented in several different ways (Dimicco et al, 2003;Farahmand and Chatterjee, 2008). Dynamic pricing became a popular tool in many industries; this strategy is recognized as profitable for airlines and is practiced in other industries, such as hotels, cruises, and rental cars (Kimes, 1989;2002;Duman and Mattila, 2003;Sahay, 2007).…”

Section: Uniform Pricing and Dynamic Pricingmentioning

confidence: 99%

“…From a company's perspective, appropriately applied dynamic pricing will increase revenues and profits (Sahay, 2007). The success of dynamic pricing relies on the ability to segment consumers into different groups with different levels of willingness to pay (Dimicco, Maes and Greenwald, 2003). In particular, the hospitality and airline industries have increasingly employed dynamic pricing since their inventories are perishable, demand can be segmented, the products or services are sold well in advance, and demand fluctuates substantially (Kimes, 1989).…”

Section: Introductionmentioning

confidence: 99%

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Impact of Dynamic Pricing Strategies on Consumer Behavior

Rohani

Nazari²

2012

jmr

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While hotels come up with various discount strategies to attract consumers, especially during a recession, both hotels and consumers seem to favor dynamic pricing. Yet there are not enough studies available to reveal that dynamic pricing would positively impact consumers. Studies also indicated that price discounts give consumers not only monetary benefits but also positive responses. The purpose of this study was to investigate how uniform pricing and dynamic pricing influence consumers behavior, in the presence of low involvement and high involvement consumers. The results of study suggested that high involvement consumers responded more positively to dynamic pricing than uniform pricing. Moreover, younger and female consumers are more likely to be involved in obtaining a discount, and high involvement consumers showed more positive feelings, and were more likely to tell others and make repeat purchases from a discount as compared to low involvement consumers.

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Cited by 43 publications

References 17 publications

H. alal¯ Marketing Practices and Performance of Cooperative Societies in Ilorin Metropolis, Kwara State, Nigeria

H. alal¯ Marketing Practices and Performance of Cooperative Societies in Ilorin Metropolis, Kwara State, Nigeria

New Product Launching with Pricing, Free Replacement, Rework, and Warranty Policies via Genetic Algorithmic Approach

Impact of Dynamic Pricing Strategies on Consumer Behavior

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