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The purpose of this study is to provide an optimal joint strategy of multi-period pricing and sales effort for a retailer with a logit choice demand in an integrated channel.
Abstract
Purpose
The purpose of this study is to provide an optimal joint strategy of multi-period pricing and sales effort for a retailer with a logit choice demand in an integrated channel.
Design/methodology/approach
Customer demand is characterized by a logit choice model, it varies over time and is influenced by price and sales effort. The multi-period decision model for the retailer is constructed using a discrete-time dynamic programming method to determine the optimal price and sales effort in each period.
Findings
When the inventory level does not exceed a certain threshold, decreasing price and increasing sales effort over time or as inventory level increases are the optimal strategies. However, once the inventory level exceeds the threshold, the optimal strategy is to maintain both price and sales effort constant as the inventory level changes or to increase price and decrease sales effort over time. Additionally, the greater the influence of sales effort on demand or the higher the arrival rate of customers, the higher the optimal price and the greater the optimal sales effort level.
Originality/value
This study contributes to the existing research on dynamic pricing and sales effort in integrated channels by incorporating a logit choice model. Furthermore, it provides valuable management insights for retailers operating in an integrated channel to make pricing and sales effort decisions based on inventory level and time period.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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Chon Kit Chao, Hao Hu, Liming Zhang and Jihong Wu
The paper aims to study how global pharmaceutical companies such as Pfizer have managed the challenges of pharmaceutical patent expiry.
Abstract
Purpose
The paper aims to study how global pharmaceutical companies such as Pfizer have managed the challenges of pharmaceutical patent expiry.
Design/methodology/approach
A case study method was applied. The best-selling brand drug over the past 10 years – Lipitor – was chosen as the case target.
Findings
For dealing with this, this paper describes all the details of the corresponding strategies of Pfizer before and after patent expiration of Lipitor. Before patent expiry, Pfizer undertook the activities of direct-to-consumer marketing, pricing strategy for competition, legal delay and me-too drug R&D. After patent expiry, Pfizer chose to carry out continuous marketing for brand, rebate strategy, authorized generics and change to over-the-counter. In addition, diversity and globalization strategy was applied before and after patent expiry.
Research limitations/implications
This research provides strong implication for managing pharmaceutical products before and after patent expiry.
Practical implications
It is strongly recommended for both brand and generic drug companies to design strategies to meet the challenges of pharmaceutical patent expiry.
Social implications
For the global pharmaceutical market, a conclusion can be drawn that, nowadays, the “patent cliff” is the most significant factor influencing decision-makers to consider futuristic policies. Further, it is also a considerably effective solution for reducing health-care costs for policymakers.
Originality/value
This paper contributes to the field of patent expiry management in high-tech industries such as pharmaceuticals.
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Zhen Li, Soochan Choi and Jeffrey Yi-Lin Forrest
The purpose of this paper is to examine the effect of peer pressure on joint consumption decisions among emerging adults. Building on prospect theory and characteristics of…
Abstract
Purpose
The purpose of this paper is to examine the effect of peer pressure on joint consumption decisions among emerging adults. Building on prospect theory and characteristics of emerging adulthood, the authors propose that influence from peers (i.e. informational and normative influence) serves as a channel to understand how peer pressure shapes joint consumer behaviors at different levels of social capital.
Design/methodology/approach
An online survey is distributed to the emerging adults, aged 18 to 25, in the south, west, east and middle of the USA. Construct validity and reliability are tested by using confirmatory factor analysis. Structural equation modeling is used to test the mediating and moderating effects.
Findings
The results show that social capital moderates the relationship between peer pressure and group-oriented consumer decisions, such that the relationship is positive in groups with high-level social capital but negative in groups with low-level social capital. Furthermore, such effects tend to be achieved via peer influence. And peer influence is stronger in groups with high-level social capital than those with low-level social capital.
Originality/value
The current literature has shown contradictory results: it is usually believed that emerging adults may conform to pressure and engage in group-oriented decisions; however, some research has reported the opposite result. To better understand this relationship, the authors aim at a group-level factor – perceived social capital – as a boundary condition. This research contributes to the young consumer decision-making literature by involving the interplay among peer pressure, perceived social capital and peer informational and normative influence.
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Kareem M. Selem, Rupa Sinha, Rimsha Khalid, Mohsin Raza and Mohammad Shahidul Islam
Underpinned by sensation-seeking theory (SST) and regulatory focus theory (RFT), this paper highlights the crucial role of adventurousness in self-protective behavior and future…
Abstract
Purpose
Underpinned by sensation-seeking theory (SST) and regulatory focus theory (RFT), this paper highlights the crucial role of adventurousness in self-protective behavior and future travel avoidance. Furthermore, this paper investigates safety-seeking tendency as a moderator and travel anxiety post-COVID-19 as a mediator.
Design/methodology/approach
Data were gathered from 574 potential visitors to St. Catherine post-COVID-19 and analyzed using Smart-PLS approach.
Findings
Adventurousness negatively and significantly affected travel anxiety, while the latter negatively influenced self-protective behavior and positively influenced future travel avoidance. Besides, the findings proved that travel anxiety partially mediated the adventurousness linkage with self-protective behavior and future travel avoidance. Moreover, safety-seeking tendencies dampened travel anxiety's connection with self-protective behavior and future travel avoidance.
Practical implications
This paper provides valuable insights into travel research in theory and practice to revive tourist attractions post-COVID-19 in developing countries via an adventure tourism pattern. The study helps figure out how to deal with the pandemic and restore the monument of heavenly religions, St. Catherine—sacred mountain peaks, mosques, churches and many monasteries—in addition to its charming and picturesque nature.
Originality/value
The current paper examines a traveler's adventurous nature and post-COVID-19 behavior when visiting St. Catherine and their behaviors related to future avoidance and self-protection. This paper adds the first investigation of travel anxiety and safety-seeking through the lens of SST and RFT theories in the Egyptian tourism context.
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This paper aims to explore multiple problematisation processes through a former needle exchange programme run by Kék Pont (a non-governmental organisation) in the 8th district of…
Abstract
Purpose
This paper aims to explore multiple problematisation processes through a former needle exchange programme run by Kék Pont (a non-governmental organisation) in the 8th district of Budapest. By presenting a collage of ethnographic stories, this paper attempts to preserve tacit knowledge associated with the programme and thereby keep its office alive as a “drug place”, the operation of which was made impossible in 2014.
Design/methodology/approach
Drawing on the insights of Foucauldian governmentality studies and actor-network theory, this paper focusses on drug use as a problem in its spatial-material settings. Based on ethnographic fieldwork, the contribution traces multiple problematisation processes and related infrastructures.
Findings
From the needle exchange programme’s perspective, drug use is not a singular problem but the effect of multiple problematisation processes. Although those processes are often in conflict with each other, the question is not which one is right, but how social workers manage to hold them together. It is a fragile achievement that requires years of training and ongoing negotiation with local actors. By eliminating Kék Pont’s 8th district office, the Hungarian Government did not only hinder harm reduction in the area but it had also rendered tacit knowledge associated with the needle exchange programme as a “drug place” inaccessible.
Originality/value
The paper is a melancholy intervention – an attempt to preserve tacit knowledge that had accumulated at the needle exchange programme. The retelling of ethnographic stories about this “drug place” is one way of ensuring that other drug policies remain imaginable.
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Yaw A. Debrah and Ian G. Smith
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on…
Abstract
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on work and employment in contemporary organizations. Covers the human resource management implications of organizational responses to globalization. Examines the theoretical, methodological, empirical and comparative issues pertaining to competitiveness and the management of human resources, the impact of organisational strategies and international production on the workplace, the organization of labour markets, human resource development, cultural change in organisations, trade union responses, and trans‐national corporations. Cites many case studies showing how globalization has brought a lot of opportunities together with much change both to the employee and the employer. Considers the threats to existing cultures, structures and systems.
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This paper aims to discuss the challenge for the classical idea of professionalism in understanding the Chinese software engineering industry after giving a close insight into the…
Abstract
Purpose
This paper aims to discuss the challenge for the classical idea of professionalism in understanding the Chinese software engineering industry after giving a close insight into the development of this industry as well as individual engineers with a psycho‐societal perspective.
Design/methodology/approach
The study starts with the general review of the sociological concept of profession, professional and specialization of knowledge. Together with revealing the critical challenge from the empirical field of software engineering industry regarding its professionalization, a critique of the neglect of subjective agency in classical conception of professionalism in sociology theory and methodology is set out.
Findings
A case study with interpretation of the subject's continuously developing identification with their specialization in knowledge and occupation from their narration of career experience reveals the dynamics in this development process relating to individual, social practice and societal factors.
Originality/value
This paper contributes to empirical research of analyzing the professionalization process of software engineering and software engineers in relation to the concept of professionalism, and it contributes theoretically by discussing the challenge of this process to the development of professionalism within this highly knowledge‐based industry in a Chinese societal context.
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Devotes the entire journal issue to managing human behaviour in US industries, with examples drawn from the airline industry, trading industry, publishing industry, metal products…
Abstract
Devotes the entire journal issue to managing human behaviour in US industries, with examples drawn from the airline industry, trading industry, publishing industry, metal products industry, motor vehicle and parts industry, information technology industry, food industry, the airline industry in a turbulent environment, the automotive sales industry, and specialist retailing industry. Outlines the main features of each industry and the environment in which it is operating. Provides examples, insights and quotes from Chief Executive Officers, managers and employees on their organization’s recipe for success. Mentions the effect technology has had in some industries. Talks about skilled and semi‐skilled workers, worker empowerment and the formation of teams. Addresses also the issue of change and the training that is required to deal with it in different industry sectors. Discusses remuneration packages and incentives offered to motivate employees. Notes the importance of customers in the face of increased competition. Extracts from each industry sector the various human resource practices that companies employ to manage their employees effectively ‐ revealing that there is a wide diversity in approach and what is right for one industry sector would not work in another. Offers some advice for managers, but, overall, fails to summarize what constitutes effective means of managing human behaviour.
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