文章基本信息

标题：Estimating product efficiency through a hedonic pricing best practice frontier
本地全文：下载
作者：Ruben Arrondo ; Ruben Arrondo ; Nuria Garcia 等
期刊名称：BRQ Business Research Quarterly
印刷版ISSN：2340-9436
出版年度：2018
卷号：21
期号：4
页码：215-224
DOI：10.1016/j.brq.2018.08.005
语种：English
出版社：Elsevier
摘要：AbstractA complex critical decision in marketing and economics is pricing. Finding the right price for a product requires careful assessment of the product attributes. Product efficiency evaluation establishes the relative appeal of a product, when compared with the observable attributes and prices of competing products. The main contribution of this paper is combining hedonic pricing with frontier analysis to estimate product efficiency, which is a novel approach. We apply this method to the running shoes market. We find four attributes as main drivers of price: Stability, Cushioning, Flexibility and Response. The model also identifies overpriced products and predicts the price reductions needed in order to be comparatively competitive, a prerequisite for overall business performance. Our results show the dynamics of price adjustments in the market. Overpriced products adjust prices down quickly gaining comparative appeal. Another interesting finding is that product efficiency strongly correlates with the evaluations made by independent experts.
关键词：Hedonic pricing;Stochastic frontier analysis;Product efficiency;Running shoes