Why the Dynamics of Competition Matter for Category Profitability

Voleti, Sudhir; Gangwar, Manish; Kopalle, Praveen K.

doi:10.1509/jm.15.0304

Cited by 6 publications

(4 citation statements)

References 68 publications

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“…These two methods were used to identify price determinants and their influence on hotel rooms’ prices or Airbnb rentals (Adhikari, 2015; Falk et al , 2019; Sánchez-Pérez et al , 2019; Wang and Nicolau, 2017). In addition to applying conjoint analysis to study price basis, marketing research built algorithms through dynamic programming or Bayesian estimation to design pricing systems (Hall et al , 2010; Voleti et al , 2018). In H&T, studies such as Gričar and Štefan (2019) and Leoni et al (2020) contributed to this avenue.…”

Section: Discussionmentioning

confidence: 99%

Pricing research in hospitality and tourism and marketing literature: a systematic review and research agenda

Han

Bai

2022

IJCHM

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Purpose This study systematically reviewed pricing research published in leading marketing and hospitality and tourism (H&T) journals between 2010 and 2019. It attempts to concretize the understanding of the evolving patterns of pricing research in both fields and suggests an agenda for future research in H&T. Design/methodology/approach This study performed keyword co-occurrence analyses and co-citation analyses on the bibliographic data of 575 articles from marketing and H&T journals. Content analysis was applied to investigate the emerged topics in H&T. Findings The marketing discipline showed a persistent focus on research themes including price promotion, reference price, price fairness and pricing strategy. The H&T domain experienced a significant content enrichment of preexistent research topics. H&T scholars showed a growing interest in studying pricing for sharing economy accommodations and the interplay between pricing and electronic word-of-mouth. While marketing research applied theories from multiple disciplines as the theoretical foundations, H&T studies adopted the hedonic pricing model as an overarching theory. Practical implications Future pricing research in H&T may incorporate theories from other disciplines such as psychology, sociology and anthropology to broaden the scope of the study. Besides, innovative study designs and complex data analysis techniques should be encouraged. Topicwise, H&T scholars can dive deeper into price promotion and distribution channel price management. Originality/value This is the first study consolidating the pricing literature in H&T and marketing. It also suggests the potential research directions for researchers.

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Section: Discussionmentioning

confidence: 99%

Pricing research in hospitality and tourism and marketing literature: a systematic review and research agenda

Han

Bai

2022

IJCHM

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“…Since the product range of retailers is usually more than a thousand items, the data analysis methods used also deserve special attention (Yang and Li 2017;Casteran et al 2019;Sinha et al 2013). Besides, one of the main issues of modern CM is the efficient pricing and profitability management of the categories (Gonzalez-Benito et al 2010, Voleti et al 2017) and inventory management by categories (Che et al 2012;Ma et al 2010). The researchers are interested in the practical application of the category management toolkit in various market segments, such as FMCG (Hyvönen et al 2010;Sandell 2019), and at various types of retailers (Hamister and Fortsch 2016;Han et al 2010;Zhang et al2010;Shen 2011;Cadeaux and Yee 2013).…”

Section: Category Management In Retailmentioning

confidence: 99%

Developing a Methodology for Category Management in Manufacturing Companies

Burlakova,

S. Ruzhanskaya

2021

Proceedings of the International Conference on Industrial Engineering and Operations Management

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Category management' term has been used in manufacturing companies for over 10 years, but its methodology has not been clearly defined yet. Traditional category management (CM) originated in retail and it is obvious that the whole set of its tools is impossible to apply to the purchases of industrial companies due to a number of specific restrictions: some of the goods purchased by a manufacturing enterprise are modified in the process of production, and the others are acquired not for external, but for the needs of company internal consumer. Therefore, it is necessary to make a number of clarifications in the methodology of CM for manufacturing companies concerning the process framework, toolkit and implementation guidelines. In this regard, we proposed a fundamentally new concept of 'category approach'. By analyzing the theory of traditional CM, the practice of manufacturing CM and summarizing the experience of Russian industrial companies we outline the methodology of 'category approach' and its toolkit and implement these findings in a big Russian metallurgical company. The questions that arouse in the course of implementation made us develop a new strategic decision-making tool, which was successfully tested during the project.

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“…Category management is an important dynamic management aspect for consumer products. Recent extant literature (Voleti, Gangwar, & Kopalle, 2017) models the dynamics of competition for effective category management in consumer markets with a perspective to optimize profits, by integrating the demand dependencies across products and across time. Their competition construct allows for SKU-specific (Stock Keeping Unit) heterogeneity in inter-product and inter-period competition in a linear demand model framework.…”

Section: Tools To Competementioning

confidence: 99%

Building Competitive Edge

Kanagal¹

2018

IJMS

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The objective of a marketing strategy formulation and appropriate execution is to improve the long run financial performance of a firm / brand that includes improving market share, improving market capitalization, improving return of investment and payback period. The marketing strategist should take cognizance of the market forces that influences the payoffs to the firms. The influence of the competitive scenario on a firm / brand’s payoff is significant and could even at times be substantial in an oligopolistic industry-market structure, where strategic inter-firm dependence could be high. In this scenario, firms / brands need to be systematically prepared to find customer favor in a competitive market; this indeed is the realm of building competitive edge. In this study, we outline the path of improving ability to the process of marketing strategy formulation and examine in greater detail the process of improving the ability to compete or the buildup of competitive edge. A buildup of competitive edge is expected to improve the firm’s ability to competitive choice in the market place, through a process of improving the pro-activeness and reactiveness of the firm with respect to competitors to the satisfaction of (i) the consumers / target market, (ii) the market-society at large, as well as (iii) the policy makers regulating the competitive environment in the country / world. The improvement in the firm’s ability to competitive choice should reflect both in market share as well as market profitability and lead to improved market capitalization and superior long run financial performance.

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Why the Dynamics of Competition Matter for Category Profitability

Cited by 6 publications

References 68 publications

Pricing research in hospitality and tourism and marketing literature: a systematic review and research agenda

Pricing research in hospitality and tourism and marketing literature: a systematic review and research agenda

Developing a Methodology for Category Management in Manufacturing Companies

Building Competitive Edge

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