Pricing of flexible products

Mang, Stefan; Post, David; Spann, Martin

doi:10.1007/s11846-011-0075-4

Cited by 13 publications

(7 citation statements)

References 30 publications

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“…Customer's overall service evaluation is strongly influenced by the perception of the interaction with the service employee (Homburg and Giering 2001). The importance of personal interaction in services, in relation to its importance in products, particularly results from service-inherent properties such as intangibility and simultaneity of production and consumption (Mang et al 2012;Zeithaml et al 1985). In this context, personal sympathy and IPL are fundamental factors for the emergence of trust (Nicholson et al 2001;Swan et al 1985).…”

Section: Relationship Quality and Behavioral Intentionsmentioning

confidence: 99%

The effect of stress on customer perception of the frontline employee: an experimental study

et al. 2017

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This article examines positive effects of customer stress drawn upon the theory of excitation transfer. Contrary to previous marketing and management literature, the present study focuses on positive outcomes of stress based on a study by Dutton and Aron (J Pers Soc Psychol 30(4):510-517, 1974), who found increasing interpersonal attraction in stressful situations in a private context. The present study examines whether these findings can be applied to a service context and how interpersonal liking affects customer's employee perception and customer-related responses. An experimental laboratory study (N = 104), including a service-employee interaction and a psychological stress induction (Social Evaluative Cold-Water Pressure Test [SECPT]), was conducted. Results indicate a positive effect of stress on relationship quality constructs (relationship trust, commitment, satisfaction, and relationship investment) and partially on behavioral constructs, fully mediated by the customer's interpersonal liking of the service employee. The present research contributes to marketing and management literature in two ways: it highlights (a) the importance of context and emotion for the perception of the employee, and (b) the relevance of interpersonal liking of the service employee for the long-term customer relationship.

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Section: Relationship Quality and Behavioral Intentionsmentioning

confidence: 99%

The effect of stress on customer perception of the frontline employee: an experimental study

et al. 2017

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“…So, a differentiated price can be best suited to attract consumer segments which like multiple function products. Mang et al (2011) state that the airline industry is the best example for flexible product pricing. An airline can offer a discount on a flexible ticket to make it more attractive for consumers than a standard ticket.…”

Section: Pricing Of Flexible Productsmentioning

confidence: 99%

“…Consumers who want to avoid uncertainty can be inclined towards flexible products at a discounted price. According to a research conducted by Mang et al (2011) consumers are willing to pay for flexible products to avoid uncertainty. Moreover, the research shows that there is a positive relationship between consumer purchase and discounted price of the flexible products.…”

Section: Pricing Of Flexible Productsmentioning

confidence: 99%

The Future of Flexible Product Manufacturing by Using Industry 4.0 Technologies in Regard to Consumer Preferences

Ejaz

2021

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THE AIMS OF THE PAPER The core objectives of this paper are to understand constantly changing consumer choices over time and the manufacturing of flexible products to answer the problem. The flexible products with multiple utility choices can help consumers from every segment to fulfil their needs. The study has shed light on the flexible product manufacturing process and has also discussed launching strategies into the market with having considered various market factors in the process. METHODOLOGY A rigorous analysis of literature has been done to understand why flexible products should be preferred over standard products. Literature related to flexible product strategy is being examined and explored its dimensions of price setting and product utility. MOST IMPORTANT RESULTS This study provides a road map for companies to shift their focus on developing new manufacturing processes in order to develop flexible products to address dynamic consumer preferences. This study also shed light on the fact the flexible products might be more profitable for the company. RECOMMENDATIONS The findings show that flexible products provide larger range of utility choices and with a right price; it can be more profitable than a standard product. Flexible products can go along with mass customisation of products which can enlarge utility choices for consumers to an unlimited level.

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“…Moreover, this is the industry where most consumers experience ICSPs. Only opaque products are considered (with the exception of Mang et al (2012)), probably because this is the most popular product type in practice. The authors usually do not mention the type of differentiation, but it is safe to assume that only horizontally differentiated component products are considered.…”

Section: Empirics: Icsps In the Real-worldmentioning

confidence: 99%

How much to tell your customer? – A survey of three perspectives on selling strategies with incompletely specified products

Gönsch

2020

European Journal of Operational Research

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Pricing of flexible products

Cited by 13 publications

References 30 publications

The effect of stress on customer perception of the frontline employee: an experimental study

The effect of stress on customer perception of the frontline employee: an experimental study

The Future of Flexible Product Manufacturing by Using Industry 4.0 Technologies in Regard to Consumer Preferences

How much to tell your customer? – A survey of three perspectives on selling strategies with incompletely specified products

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