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Article
Publication date: 5 September 2008

Rob Docters, Bert Schefers, Tracy Korman and Christine Durman

This paper lays out the uses of demand curves, both for profit optimization, strategy, tiering and list price setting. This tool is also useful in public policy, such as extending

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Abstract

Purpose

This paper lays out the uses of demand curves, both for profit optimization, strategy, tiering and list price setting. This tool is also useful in public policy, such as extending health‐care coverage. It describes how to build a demand curve, and draw useful conclusions.

Design/methodology/approach

This paper provides examples of actual demand curves, and how they have been used for new product development, and in out‐maneuvering competitors. Examples are drawn from a number of industries, such as telecom, information services, insurance and electronics, and show how supply and demand are not static, but are highly interactive.

Findings

Companies and legislators are not familiar with the demand curves, despite its long history of use in academia. As a result of unfamiliarity with this tool, companies often make costly mistakes in estimates of new product uptake and volumes. If instead of demand curves they rely on price elasticities, companies deprive their senior management of a tool that suggests strategic responses to competitive situations. Surprisingly, many companies have never actually developed a demand curve for their markets.

Originality/value

This article allows managers have not actually seen a real demand curve to see one, and understand what this tool could do for them. It gives examples of new product development and tiering to address multi‐price level markets. In addition, it suggests how public policy makers should focus on shaping supply and demand, rather than imposing floors or ceilings on prices for health‐care coverage. Price ceilings today are responsible for widespread gaps in health care coverage. Finally, the literature on demand curves fails to show how supply and demand are highly interactive.

Details

Journal of Business Strategy, vol. 29 no. 5
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 4 May 2010

Rob Docters, Raul Katz, Jerry Bernstein and Bert Schefers

This paper aims to describe best practice in pricing strategy for new products and services being introduced to a market.

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Abstract

Purpose

This paper aims to describe best practice in pricing strategy for new products and services being introduced to a market.

Design/methodology/approach

A review of introductory pricing patterns across a number of industries shows there are some common patterns in customer evaluation of new products and services. Study of customer behavior can be closely tracked where there is an ongoing relationship with the buyer, e.g. online services, software as a service, professional or technical services, consumables, consumer products and sometimes capital items with service suites and warranties (e.g. medical devices). The means for inferring and tracking customer understanding, beliefs and values is to quantify usage patterns, service call‐ins, warranty requirements and trade‐out of the new product/service for newer products and services.

Findings

This article examines customer behaviors to suggest that there are three phases to customer product or service adoption: a “learning” phase, where the customer or potential customer (in trial) learns about the products, its attributes, features, utility and value; a “use” phase where the customer has learned how to use the service or product, and is appreciating the value of the product, and using a lot; and a “reassessment” phase. Now the customer is very familiar with the product, the novelty and mystery has worn off, and they wonder if there is an equivalent substitute available for a lower cost.

Originality/value

A bad introductory pricing strategy can destroy price levels and destroy a market, not to mention cost a company a lot of money. For some years many new product/service sponsors believed the best pricing approach for new products and services was to offer it for free. This paper shows that this simple approach is both ineffective and impracticable for most companies. The better approach is to understand customer product adoption cycles, and link the introductory pricing strategy to customer understanding and behavior.

Details

Journal of Business Strategy, vol. 31 no. 3
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 1 September 2006

Rob Docters, Bert Schefers, Christine Durman and Martijn Gieskes

More than ever, businesses need to assemble and offer multiple products combined into a single offer, a practice known as bundling. The purpose of this paper is to describe how to

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Abstract

Purpose

More than ever, businesses need to assemble and offer multiple products combined into a single offer, a practice known as bundling. The purpose of this paper is to describe how to bundle effectively through analyzing the value of bundle components and the specialized market purpose of a bundle.

Design/methodology/approach

In working with many different clients, statistical techniques have helped us draw an interesting conclusion: most bundles—though not all—share a similar structure or taxonomy. At the heart lies the core or anchor element; this is the product or service driving the inquiry. Wrapped around that are those elements which strongly complement the core. The next layer up consists of products or services seen as convenient for the core, but may not always be cost‐effective to include. The final layer of a bundle often turns out to be additions with negative value. These are either substitutes for other bundle components (buyers generally hate being forced to buy two redundant products), or components which have such low relevance to the core that they clutter the value message.

Findings

This article examines two dangers to effective bundling: mismatching the various elements of a bundle, and mispricing the offer. We find there are four marketing mistakes which typically stem from mismatches and mispricing: failing to create bundles for special purposes; making bundles too big; using tiering instead of bundles; and failing to innovate on bundle definition.

Originality/value

There is a science to bundles, but it is not widely known or practiced. This science grows in importance as bundling becomes more important, and bundle components become more diverse. Today most bundling is done through judgement and ad hoc initiatives. Frequently such an approach fails to develop an effective bundle, or effectively communicate the value of the bundle. Understanding the taxonomy of a bundle, and the value elements, will allow more diverse and effective product and service combinations.

Details

Journal of Business Strategy, vol. 27 no. 5
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 2 February 2022

Florian Barth, Benjamin Hübel and Hendrik Scholz

The authors investigate the implications of environmental, social and governance (ESG) practices of firms for the pricing of their credit default swaps (CDS). In doing so, the…

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Abstract

Purpose

The authors investigate the implications of environmental, social and governance (ESG) practices of firms for the pricing of their credit default swaps (CDS). In doing so, the authors compare European and US firms and consider nonlinear and indirect effects. This complements the previous literature focusing on linear and direct effects using bond yields and credit ratings of US firms.

Design/methodology/approach

For this purpose, the authors apply fixed effects regressions on a comprehensive panel data set of US and European firms. Further, nonlinear and indirect effects are investigated utilizing quantile regressions and a path analysis.

Findings

The evidence indicates that higher ESG ratings mitigate credit risks of US and European firms from 2007 to 2019. The risk mitigation effect is U-shaped across ESG quantiles, which is consistent with opposing effects of growing stakeholder influence capacity and diminishing marginal returns on ESG investments. The authors further reveal a mediating indirect volatility channel that substantially amplifies the direct effect of ESG on credit risk. A one-standard-deviation improvement in ESG ratings is estimated to reduce CDS spreads of low, medium and high ESG firms by approximately 4%, 8% and 3%, respectively.

Originality/value

This is the first study to examine whether credit markets reflect regional differences between Europe and the US with regard to the ESG-CDS-relationship. In addition, this paper contributes to the existing literature by investigating differences in the response of CDS spreads across ESG quantiles and to study potential indirect channels connecting ESG and CDS spreads using structural credit risk variables.

Details

The Journal of Risk Finance, vol. 23 no. 2
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 20 December 2021

Kadri Ojaperv and Sirje Virkus

This study aims to increase the understanding of the pregnancy-related information behavior (IB) of pregnant women in Estonia.

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Abstract

Purpose

This study aims to increase the understanding of the pregnancy-related information behavior (IB) of pregnant women in Estonia.

Design/methodology/approach

The research involved a quantitative research methodology consisting of a semi-structured questionnaire. Data was collected from pregnant Estonian women through a self-administered Web-based questionnaire using a convenience sampling during the period from January to February 2019. A total of 300 pregnant women answered the questionnaire. The data were analysed using statistical analysis and the results of the study were compared with the results of previous studies.

Findings

The three topics on which information was most frequently sought were: fetal development, use of medicines during pregnancy and symptoms of pregnancy. The main sources of information were the internet and the midwife. The most reliable and valuable source of information was a midwife. Health-related information was sought mainly because it helped women make decisions related to pregnancy and childbirth. A number of factors facilitate the information seeking process. In addition, widespread access to the internet and technological skills facilitated IB. The following factors hindered the search for information: the controversy and/or ambiguity of information published on the internet and the time spent searching for information. Most women used wearable technologies during pregnancy.

Research limitations/implications

This study has several limitations. First, the weakness of online surveys is the potential lack of representativeness, as it excludes from the survey those who do not have access to or ability to use the internet for various reasons (Evans and Mathur, 2005; Limbu et al., 2021). Second, as most recruitment for the study took place online, there was a risk that those who did not use the internet could be excluded from the survey. Third, as the questionnaire was also shared in the Facebook news feed by the Women’s Clinic and Maternity Hospital of the East Tallinn Central Hospital, it may be that the respondents recruited through it more often used the support provided by medical professionals. Fourth, due to the volume limits of the study, it is not possible to present all the results of the study on the basis of socio-demographic characteristics and stage of pregnancy. Therefore, the findings cannot be generalized to the broader population and future studies should explore a larger and more representative populations.

Practical implications

This study will give some useful information to help to improve the services offered for pregnant women in Estonia.

Social implications

The findings of this study may inform how to better support this target group.

Originality/value

There is a lack of research in Estonia that focuses on the IB of pregnant women and this research fills this gap.

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Book part
Publication date: 17 October 2022

Jennifer L. Kent and Melanie Crane

Transport shapes the health of urban populations. It can support healthy behaviours such as participation in regular physical activity and access to community connection

Abstract

Transport shapes the health of urban populations. It can support healthy behaviours such as participation in regular physical activity and access to community connection. Transport systems can also have major negative impacts on health. For example, through air pollution from fossil fuel-based modes of travel, the risk of injury and death from transport related collisions, and in the way sedentary modes of travelling can contribute to less physically active lifestyles.

This chapter considers the long-term impact of the pandemic on a series of well-researched transport-related health outcomes. It first describes the established connections between transport and health. It then considers the future implications of three potential pandemic-induced shifts: the increased uptake of working from home (WFH); decreased usage of public transport and increased interest in walking and cycling in the local neighbourhood. The impacts of these shifts on the transport-health nexus are then discussed, revealing both positive and negative outcomes. The authors conclude by providing policy recommendations to mitigate possible negative outcomes and strengthen the positive consequences into the future.

Details

Transport and Pandemic Experiences
Type: Book
ISBN: 978-1-80117-344-5

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Case study
Publication date: 6 July 2020

Jamie O’Brien and Rebecca A. Bull Schaefer

On the evening of December 29, 1972, Eastern Air 401 (EA401) was on a routine flight from New York to Miami. Despite EA401 flying one of the most advanced aircraft at the time…

Abstract

Case overview/synopsis

On the evening of December 29, 1972, Eastern Air 401 (EA401) was on a routine flight from New York to Miami. Despite EA401 flying one of the most advanced aircraft at the time (the Lockheed L-1011), it crashed in the Florida Everglades killing 101 of its 176 passengers. Drawing from various first-hand accounts (cockpit voice recorder) and secondary evidence (news reports and online sources) of the tragedy, this teaching case provides a detailed account of the key events that took place leading up to the accident. The case describes how the pilots on EA401 were confronted with a simple scenario, a landing gear bulb not working in the cockpit, and through the distraction that ensued made a series of errors. Through many of the quotes in the text, readers gain an understanding of the impressions and perceptions of the pilots, including how they felt about many of the critical decisions and incidents during the last minutes of the flight. The case concludes by highlighting the main findings of the NTSB report.

Complexity academic level

Depending on individual course objectives, this case can take two or one day to debrief. Specifically, if this case is used in an organizational behavior course, most of the case questions could be discussed in one day. However, if this case is used in a capstone HRM or group dynamics type course on teams and team training and performance, a second day could be used to develop documentation outlining training design or performance evaluation designs.

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Article
Publication date: 16 November 2021

Elena Fedorova, Sergei Druchok and Pavel Drogovoz

The goal of the study is to examine the effects of news sentiment and topics dominating in the news field prior to the initial public offering (IPO) on the IPO underpricing.

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Abstract

Purpose

The goal of the study is to examine the effects of news sentiment and topics dominating in the news field prior to the initial public offering (IPO) on the IPO underpricing.

Design/methodology/approach

The authors’ approach has several steps. The first is textual analysis. To detect the dominating topics in the news, the authors use Latent Dirichlet allocation. The authors use bidirectional encoder representations from transformers (BERT) pretrained on financial news corpus to evaluate the tonality of articles. The second is evaluation of feature importance. To this end, a linear regression with robust estimators and Classification and Regression Tree and Random Forest are used. The third is data. The text data consists of 345,731 news articles from Thomson Reuters related to the USA in the date range from 1 January 2011 to 31 May 2018. The data contains all the possible topics from the website, excluding anything related to sports. The sample of 386 initial public offerings completed in the USA from 1 January 2011 to 31 May 2018 was collected from Bloomberg Database.

Findings

The authors found that sentiment of the media regarding the companies going public influences IPO underpricing. Some topics, namely, the climate change and environmental policies and the trade war between the US and China, have influence on IPO underpricing if they appear in the media prior to the IPO day.

Originality/value

The puzzle of IPO underpricing is studied from the point of Narrative Economics theory for the first time. While most of the works cover only some specific news segment, we use Thomson Reuters news aggregator, which uses such sources The New York Post, CNN, Fox, Atlantic, The Washington Post ? Buzzfeed. To evaluate the sentiment of the articles, a state-of-the-art approach BERT is used. The hypothesis that some common narratives or topics in the public discussion may impose influence on such example of biased behaviour like IPO underpricing has also found confirmation.

Details

International Journal of Accounting & Information Management, vol. 30 no. 1
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 4 November 2014

Bert Schreurs, Hetty van Emmerik, Nele De Cuyper, Tahira Probst, Machteld van den Heuvel and Eva Demerouti

Departing from the job demands resources model, the purpose of this paper is to investigate whether religion, defined as strength of religious faith, can be viewed as resource or…

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Abstract

Purpose

Departing from the job demands resources model, the purpose of this paper is to investigate whether religion, defined as strength of religious faith, can be viewed as resource or as demand. More specifically, the authors addressed the question as to how job insecurity and religion interact in predicting burnout and change-oriented behavior.

Design/methodology/approach

The authors conducted moderated structural equation modeling on survey data from a sample of 238 employees confronted with organizational change.

Findings

Results were largely consistent with the “religion as a demand” hypothesis: religion exacerbated rather than buffered the negative effects of job insecurity, so that the adverse impact of job insecurity was stronger for highly religious employees than for employees with low levels of religiousness. Religious employees appear to experience more strain when faced with the possibility of job loss.

Originality/value

The results of this study challenge and extend existing knowledge on the role of religion in coping with life stressors. The dominant view has been that religion is beneficial in coping with major stressors. The results of this study, however, suggest otherwise: religion had an exacerbating rather than a buffering effect on the relationship between job insecurity and outcomes.

Details

Career Development International, vol. 19 no. 7
Type: Research Article
ISSN: 1362-0436

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Book part
Publication date: 15 October 2008

René Moelker, Gabriëlla Poot, Manon Andres, Ljubica Jelušič, Jelena Juvan, Leena Parmar and Maren Tomforde

In this study the question is raised how family support should be organized so that it is as efficient and effective as can be. Exchange theory can provide an answer to this…

Abstract

In this study the question is raised how family support should be organized so that it is as efficient and effective as can be. Exchange theory can provide an answer to this question while taking into account that the needs of individuals will differ. In the study that is presented here, generalized reciprocity is the key concept that is derived from exchange theory. All support systems, in the seven countries under study, have benefited somehow from generalized reciprocity. However, what is effective and efficient support in the perception of one individual will differ from someone else's, and also, support systems that are effective and efficient in country X will not be so in country Y. Even though benefiting from generalized reciprocity, in the end the support system has to be matched to the support arrangement, arriving at different solutions in different countries.

Details

Armed Forces and Conflict Resolution: Sociological Perspectives
Type: Book
ISBN: 978-1-8485-5122-0

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