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Article
Publication date: 1 March 2006

Gabrielle A. Brenner, Louis Jacques Filion, Teresa V. Menzies and Lionel Dionne

Despite growing interest in the difficulties encountered by ethnic entrepreneurs, very little research has yet been done on the subject. This article attempts to fill the gap. A…

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Abstract

Despite growing interest in the difficulties encountered by ethnic entrepreneurs, very little research has yet been done on the subject. This article attempts to fill the gap. A total of 715 Chinese, Italian, Indian/Sikh, Jewish, and Vietnamese entrepreneurs from Montreal, Toronto, and Vancouver were surveyed for the research. The results show that ethnic businesses tend to face the same problems as other businesses, which consequently does not appear to justify the development of support programs specifically for ethnic entrepreneurs. However, this study of established businesses does not consider failed or nascent businesses, which may have experienced additional problems. Further research is required to examine these issues. Also, given the unique social and business dynamics that exist within the ethnic communities studied, support programs should be directed through the networks of these communities.

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New England Journal of Entrepreneurship, vol. 9 no. 2
Type: Research Article
ISSN: 1550-333X

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Article
Publication date: 1 January 2004

Rajneesh Suri, Rolph E. Anderson and Vassili Kotlov

American multinationals, when deciding pricing strategies for their culturally diverse foreign markets, usually have to debate whether to change or to keep the pricing strategy…

1857

Abstract

American multinationals, when deciding pricing strategies for their culturally diverse foreign markets, usually have to debate whether to change or to keep the pricing strategy that they have been using at home. The recent move towards standardization in global markets has only raised the importance of this issue. This research addresses this issue by comparing the effectiveness of 9‐ending prices or just below prices in the USA and in a Central European country, Poland. A conceptual framework was developed to predict why there might be differences in preference for such 9‐ending prices in Poland and the USA. Results from the first study show that 9‐ending prices, which are popular in the US market, are not well received in the Polish market. The second study provided further insights by determining reasons for differences in perception and preference for such prices in the two countries.

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European Journal of Marketing, vol. 38 no. 1/2
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 September 2002

Keith S. Coulter

Although findings have been inconsistent, there is some evidence from both experimental studies and field research that prices set just below the nearest round figure produce…

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Abstract

Although findings have been inconsistent, there is some evidence from both experimental studies and field research that prices set just below the nearest round figure produce higher than expected demand at that level. Other research has demonstrated that the organization of verbal and/or pictorial elements of a print advertisement can influence the persuasive impact of that ad. The author combines these two streams of research in examining preference for brands associated with 0‐ versus 9‐ending prices that are displayed in different advertising layouts. Results indicate that the higher than expected demand associated with 9‐ending prices is more likely when prices are placed to the left of attended verbal information contained in an ad, due to the more positive evaluations of price that occur with more efficient subconscious processing.

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Journal of Product & Brand Management, vol. 11 no. 5
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 1 May 2004

Gianluigi Guido and Alessandro Peluso

This paper analyzes: the psychological effects that the introduction of the Euro in Italy has on consumers; and their perception of Euro odd prices, that is those prices that fall…

1914

Abstract

This paper analyzes: the psychological effects that the introduction of the Euro in Italy has on consumers; and their perception of Euro odd prices, that is those prices that fall just below a round number. The aim is to provide some answers to an important question for retailers: How profitable is using odd prices expressed in Euros instead of in the old currency? Results show that consumers, sometimes, prefer round prices rather than odd‐ending ones, although the latter elicits a discounted‐price image more than the corresponding round one. Moreover, consumers tend to underestimate odd prices during perception and to convert them into Lire through an approximation heuristic strategy. In certain choice sets, odd prices are likely to affect the consumers’ heuristics.

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Journal of Product & Brand Management, vol. 13 no. 3
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 20 February 2009

Robert M. Schindler

The purpose of this paper is to guide managers' choices of rightmost digits in retail prices by acquiring a better understanding of the psychological mechanisms by which price…

1825

Abstract

Purpose

The purpose of this paper is to guide managers' choices of rightmost digits in retail prices by acquiring a better understanding of the psychological mechanisms by which price endings can influence sales.

Design/methodology/approach

The paper observes and compares the price endings used in large matched samples of advertised prices in two countries with considerable cultural differences, the USA and Japan.

Findings

Although the digit 9 predominates among the rightmost digits of advertised prices in the USA the digit 8 predominates in Japan. In contrast to this difference, the US and Japanese prices are similar in that both show greater use of 9 or 8 endings when this choice lowers the price's leftmost digit and when the advertised price is claimed to be a discount price.

Research limitations/implications

Future research should include a wider range of price advertising media and should examine usage patterns of less frequently occurring digits.

Practical implications

Setting a price that falls just below a round number can be helpful in creating a low‐price image. Setting this just‐below price with a 9‐ending would be appropriate in the USA and European countries, but in Japan and other Asian countries, it would be more appropriate to set this just‐below price with an 8‐ending.

Originality/value

These results provide guidance to the retail price setter and illustrate to the basic researcher how universal psychological processes and specific cultural meanings can interact to determine consumer perceptions of marketing stimuli.

Details

International Marketing Review, vol. 26 no. 1
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 November 2001

J.G. Marakis, J. Chamiço, G. Brenner and F. Durst

Notes that, in a full‐scale application of the Monte Carlo method for combined heat transfer analysis, problems usually arise from the large computing requirements. Here the…

585

Abstract

Notes that, in a full‐scale application of the Monte Carlo method for combined heat transfer analysis, problems usually arise from the large computing requirements. Here the method to overcome this difficulty is the parallel execution of the Monte Carlo method in a distributed computing environment. Addresses the problem of determination of the temperature field formed under the assumption of radiative equilibrium in an enclosure idealizing an industrial furnace. The medium contained in this enclosure absorbs, emits and scatters anisotropically thermal radiation. Discusses two topics in detail: first, the efficiency of the parallelization of the developed code, and second, the influence of the scattering behavior of the medium. The adopted parallelization method for the first topic is the decomposition of the statistical sample and its subsequent distribution among the available processors. The measured high efficiencies showed that this method is particularly suited to the target architecture of this study, which is a dedicated network of workstations supporting the message passing paradigm. For the second topic, the results showed that taking into account the isotropic scattering, as opposed to neglecting the scattering, has a pronounced impact on the temperature distribution inside the enclosure. In contrast, the consideration of the sharply forward scattering, that is characteristic of all the real combustion particles, leaves the predicted temperature field almost undistinguishable from the absorbing/emitting case.

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International Journal of Numerical Methods for Heat & Fluid Flow, vol. 11 no. 7
Type: Research Article
ISSN: 0961-5539

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Article
Publication date: 6 September 2013

John A. Doukas and Wenjia Zhang

This study investigates the implications of the cumulative prospect theory in the context of US bank acquisitions, with particular emphasis on its probability weighting component…

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Abstract

Purpose

This study investigates the implications of the cumulative prospect theory in the context of US bank acquisitions, with particular emphasis on its probability weighting component. Specifically, we examine whether gambling attitudes matter in US bank takeover decisions. The evidence demonstrates that offer price premiums and target announcement returns are much higher in bank takeover transactions involving targets with gambling (lottery) features (high skewness, high volatility, and low price). Overall, the results indicate that banking acquisitions are influenced by gambling attitudes.

Design/methodology/approach

To measure idiosyncratic skewness, we follow Harvey and Siddique (2000) and Kumar (2009) and decompose total skewness into its idiosyncratic and systematic components.

Findings

The evidence demonstrates that offer price premiums and target announcement returns are much higher in bank takeover transactions involving targets with gambling (lottery) features (high skewness, high volatility, and low price). In addition, we find that synergies and bidder announcement returns are lower in lottery‐type acquisitions. The patterns we document are stronger when bidding banks are bigger, target banks are smaller, investor sentiment is above the median, and the Chicago Fed National Activity Index is negative.

Originality/value

This is an original piece of work in the field of banking.

Details

Review of Behavioural Finance, vol. 5 no. 1
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 1 December 2004

Robert M. Schindler and Rajesh Chandrashekaran

Although it has been proposed that recall processes play a role in the retail sales effects of 9‐ending pricing, substantial effects of price endings on the level of recalled…

2364

Abstract

Although it has been proposed that recall processes play a role in the retail sales effects of 9‐ending pricing, substantial effects of price endings on the level of recalled prices has not been demonstrated. With an improved testing procedure, it is found that the level of a set of prices with low ending digits (such as 1 or 2 in the dollars place) is more likely to be overestimated in recall than the level of equivalent sets of prices with high ending digits (such as 6, 7, or 9 in the dollars place). The results of the study support the role of left‐to‐right processing of price information and point out some consequences for retailers of the use of low numbers in price‐ending digits.

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Journal of Product & Brand Management, vol. 13 no. 7
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 5 June 2007

Adam Nguyen, Roger M. Heeler and Zinaida Taran

Retail prices ending in 0, 5 (even ending), and 9 (odd ending) are common in western countries. The purpose of this paper is to explain variances in odd versus even ending…

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Abstract

Purpose

Retail prices ending in 0, 5 (even ending), and 9 (odd ending) are common in western countries. The purpose of this paper is to explain variances in odd versus even ending practices in western versus non‐western countries, using Hall's high‐low context construct.

Design/methodology/approach

A survey of web‐posted prices in ten countries is conducted.

Findings

Relative to their counterparts in low context, western cultures, consumers in high context, non‐western cultures may be less prone to the illusion of cheapness or gain created by odd endings, and more likely offended by such perceived attempts to “fool” them. Thus, odd endings are predicted to operate at a higher level of value significance to consumers, and to occur less frequently relative to even endings, in high than low, context cultures. Data support the predictions.

Research limitations/implications

Additional empirical studies are recommended to further test the proposed theory.

Practical implications

Western firms need to be cautious when replicating odd ending practices in non‐western markets. Even ending is a “safer” pricing format. Odd endings, if used, should convey cheapness or gain that is more “real”.

Originality/value

The research results indicate that the results of western‐based consumer research cannot be treated as universally applicable. The high‐low context theory supplements prior theories for price ending patterns in non‐western countries, and those based on perceptions and affect in the west. The study also demonstrates the usefulness of the web method in international pricing research.

Details

Journal of Product & Brand Management, vol. 16 no. 3
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 18 March 2021

Judith Hillen

This study aims to analyse the use of psychological pricing in online food retailing. In stationary grocery shops, psychological prices with nine-endings have been a…

1955

Abstract

Purpose

This study aims to analyse the use of psychological pricing in online food retailing. In stationary grocery shops, psychological prices with nine-endings have been a well-documented phenomenon for many decades. However, little is known about the relevance of this pricing practice in the growing grocery e-commerce sector.

Design/methodology/approach

The authors investigate the frequency of nine-ending prices at Amazon Fresh for more than 10,000 products from May 2019 until March 2020 for the customer location Berlin, Germany. Applying a within–between logit model, the authors identify the determinants for the use of nine-ending prices.

Findings

The authors find that more than 70% of all prices end in the digit 9. This indicates that Amazon Fresh applies psychological pricing to a similar degree as traditional offline grocers. Nine-ending prices are more likely for so-called “want” products such as snacks and sweets than for “should” products such as fruits and vegetables. Also, psychological price endings are used less for products with a higher price level and for products with temporary sales promotions.

Originality/value

This study is the first to analyse psychological pricing practices for the world's largest online food retailer Amazon Fresh. The study results contrast with most previous empirical and theoretical studies, which suggest that the use of psychological prices would decline in an online context.

Details

British Food Journal, vol. 123 no. 11
Type: Research Article
ISSN: 0007-070X

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