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1
Kalaputs, P. A. "Pricing for innovative products." Izvestiya MGTU MAMI 8, no. 3-5 (October 10, 2014): 37–43. http://dx.doi.org/10.17816/2074-0530-67350.
Повний текст джерелаАнотація:
The paper considers following topics: factors affecting the level of prices in market, bargain prices and their types when selling innovative products, pricing options and strategic approaches of enterprises in promoting a new product on the market. Analytical dependences in the formation of prices in the market are provided.
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Sekerin, V. D., and R. M. A. Khoshgiyafekh. "Features of pricing policy for innovative products." Izvestiya MGTU MAMI 7, no. 4-1 (February 20, 2013): 51–55. http://dx.doi.org/10.17816/2074-0530-68014.
Повний текст джерелаАнотація:
The authors consider features of price policy for innovative products. The basic problems of pricing for innovative products are revealed. The basic stages of analytical operations in the pricing of product innovation are defined.
3
Krasnyanskaya, S. M., E. L. Dmitrieva, and V. D. Zharikov. "Creating Innovative Products and Their Pricing." Voprosy sovremennoj nauki i praktiki. Universitet imeni V.I. Vernadskogo, no. 1(63) (2017): 070–77. http://dx.doi.org/10.17277/voprosy.2017.01.pp.070-077.
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Xiao, Lu, Hang Zhang, and Yong Qin. "Competitive Pricing of Innovative Products with Consumers’ Social Learning." Sustainability 12, no. 9 (May 7, 2020): 3806. http://dx.doi.org/10.3390/su12093806.
Повний текст джерелаАнотація:
Consumers often face valuation uncertainty when innovative products are introduced into market, and they may update the valuation about product quality based on historical sales information over time. Based on this background, this study constructed a two-period duopoly model of innovative products and investigated the effect of consumers’ social learning on enterprises’ pricing strategies and profits. Optimal pricing decisions for competitive enterprises with and without consumers’ social learning were obtained. It was found that consumers’ social learning will intensify competition between enterprises, which will lower their prices and profits. The stronger the learning intensity of consumers, the greater the profit loss for enterprises.
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Ma, Xiuyan. "Pricing to the Scenario: Price-Setting Newsvendor Models for Innovative Products." Mathematics 7, no. 9 (September 3, 2019): 814. http://dx.doi.org/10.3390/math7090814.
Повний текст джерелаАнотація:
In this paper, we consider a manufacturer who produces and sells a kind of innovative product in the monopoly market environment. Because the life cycle of an innovative product is usually shorter than its procurement lead time, one unique demand quantity (scenario) will occur in the selling season; thus, there is only one chance for the manufacturer to determine both optimal production quantity and optimal sale price. Considering this one-time feature of such a decision problem, a price-setting newsvendor model for innovative products is proposed. Different to the existing price-setting newsvendor models, the proposed models determine the optimal production quantity and sale price based on some specific state (scenario) which is most applicable for the manufacturer. The theoretical analysis provides managerial insights into the manufacturers’ behaviors in a monopoly market of an innovative product, and several phenomena in the luxury goods market are well explained.
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Yelshin, V. A., and T. A. Yelshina. "The ways of the defense products pricing system development." Radio industry (Russia) 29, no. 4 (December 1, 2019): 73–78. http://dx.doi.org/10.21778/2413-9599-2019-29-4-73-78.
Повний текст джерелаАнотація:
The article is devoted to one of the constantly discussed topics of development of the military-industrial complex – the directions of development of the pricing system for defense products [1, 2]. The main methods of pricing used in the military economy are highlighted. The ways of the pricing system development based on statistical and engineering methods of analysis of the influence of various technological factors are considered, the tendency of transition to the methods of «full» valuation of products with no connection to labor intensity is shown. The discounted cash flow method is considered as one of the methods of contract profitability estimation. The necessity of the creation of a modern effective pricing system based on an innovative-institutional approach is shown. It is indicated that the new pricing system will require the restructuring of organizational structures of enterprises with the inclusion of fundamentally new elements.
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Графова, Galina Grafova, Графов, Andrey Grafov, Аврашков, Lyev Avrashkov, Шахватова, and S. Shakhvatova. "Methodical Approaches to Forming of Price Policy on Innovative Types of Production." Auditor 2, no. 9 (September 25, 2016): 41–47. http://dx.doi.org/10.12737/21063.
Повний текст джерелаАнотація:
Th e article off ers a pricing technique on innovative products. Within the solution of this question classifi cation
of level of prices for innovative products is off ered, the fi nancial and economic base by its determination with indication
of specifi c evaluation methods is described.
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Evgenidis, Anastasios, and Costas Siriopoulos. "A robust pricing of specific structured bonds with coupons." Journal of Risk Finance 15, no. 3 (May 19, 2014): 234–47. http://dx.doi.org/10.1108/jrf-01-2014-0005.
Повний текст джерелаАнотація:
Purpose – The purpose of this paper is to present an innovative model to evaluate the fair price of a subset of structured products for a hypothetical US structured bond. Design/methodology/approach – The authors assume that interest rates dynamics are described by the Cox–Ingersoll–Ross process. They conduct robustness checks by stress testing against parameter and model uncertainty. Findings – The fair value of the bond is robust under any parameter or model misspecification. In addition, a change in the price seems to be more sensitive to long-term yields rather than short-or mid-term yields. The authors provide a better understanding of the relationship between bond prices and business cycles: a slight change in the current structure would have a significant effect on the bond price only during economic expansions. Social implications – The recent global financial crisis has led policymakers and the financial press to blame financial innovation through accusations of structured products being highly complex. Much of the criticism is based on the fact that investors were not able to properly price and fully understand the risks of their investments. Regulators should ensure proper pricing of these products to protect both the investors and the system. Fair pricing is important for bond issuers, governments or corporations to design their product at an attractive price for investors. Originality/value – This paper fills a gap in the extant literature by providing an innovative model based on an Euler–Maruyama Monte Carlo scheme to price structured products.
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Pant, Mayank, Amarpreet Singh Virdi, and D. S. Chaubey. "Examining the Effect of Marketing Innovations on GPMA: A Study Using the PLS–SEM Approach." Global Business Review 21, no. 4 (August 1, 2018): 1025–36. http://dx.doi.org/10.1177/0972150918779160.
Повний текст джерелаАнотація:
Continuous innovation keeps running the businesses. The rise in environmental issues and, in turn, the awareness growing around have led people at large to make purchase of their most needed products and fulfil their requirements, which adhere to environment-friendly norms. Because of the environmental concerns and legal constraints, several organizations are producing green products. There is a stiff competition among the brands to establish themselves as the environment friendly green products. The sustainability for these green products depends on many factors. The important among these are packaging and pricing. To influence the purchase behaviour of consumers and thereby attracting them to purchase green products, innovative ideas in marketing for the longer shelf life of such products are required. The pace at which the green products move out of the shelf impacts an organization’s bottom line, and it has a tandem effect on the environment protection. The article aims at examining the effect of marketing innovations on the longevity (agility) of green product market agility (GPMA). Examining the effect of marketing innovations involves two aspects, and we have kept both aspects parallel to each other. One aspect is to examine the effect of packaging, that is, marketing innovation on packaging (MIPA), and the other aspect is to examine the effect of pricing, that is, marketing innovation on pricing (MIPR), with consumer purchase behaviour acting as a mediator between MIPA and GPMA and consumer purchase intention acting as a mediator between MIPR and GPMA.
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Pandey, Neeraj, Nikhil Mehta, and Shreya Basu Roy. "Semiconductor Pricing Strategy in USB Market: A Market Leader’s Dilemma." Business Perspectives and Research 5, no. 1 (November 30, 2016): 1–10. http://dx.doi.org/10.1177/2278533716671614.
Повний текст джерелаАнотація:
The semiconductor market has become more competitive than ever before with new players joining the industry. There is pressure for innovation and differentiation in this industry to maintain leadership. The resultant innovative products have wide application but are sold in hypercompetitive market. The industry requires price management at transaction level to achieve efficiency and excellence with each of the diverse customers. The pricing in the semiconductor industry is done more scientifically as compared to other industries like FMCG, consumer durables, and health care. Pricing software aid managers in determining the appropriate price. This research looks holistically at the pricing issues especially faced by market leader with focus on Universal Serial Bus (USB) customers. The market leader traditionally does premium pricing in semiconductor industry. We question that—Should a market leader always charge price premium in all its product lines? Which pricing strategy is better—skimming pricing strategy or penetrative pricing strategy? The objective of the research is to find appropriate pricing strategy for the specific product category. A right price would lead to enhanced revenue besides better customer conversion ratio.
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Shen, Wenjing. "Examining Double Marginalization Effect for Innovative Product Supply Chain." International Journal of Operations Research and Information Systems 3, no. 1 (January 2012): 37–52. http://dx.doi.org/10.4018/joris.2012010103.
Повний текст джерелаАнотація:
Double marginalization effect refers to the phenomenon that when both upstream and downstream firms have monopolistic power, customers pay higher retail price and firms make less profit than when the supply chain is vertically integrated (Tirole, 1988). Although double marginalization effect has been extensively studied in the context of supply chain management for mature products, very limited attention has been given to innovative products whose demand is generated through word-of-mouth effect. The authors study the pricing decisions in a supply chain that sells innovative products. Using a modified Bass diffusion model to capture demand trajectory over time, the authors identify the optimal way for the retailer and supplier to adjust prices when profit is not discounted, and also provide numerical examples when profit is discounted. The authors show that (1) when profit is not discounted the optimal retail prices are adjusted over time, while the optimal wholesale price should be kept as a constant, and (2) double marginalization effect also exists in an innovative product supply chain, but its degree depends on a number of factors, such as the innovation and imitation coefficients.
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MYROSHCHENKO, Nataliia, Oksana ZARYTSKA, and Anastasiia SYMAK. "Problems of commercialization of innovative products of industrial enterprises." Economics. Finances. Law, no. 12 (December 5, 2019): 35–40. http://dx.doi.org/10.37634/efp.2019.12.8.
Повний текст джерелаАнотація:
Introduction. The actuality of scientific research is confirmed by the fact that innovative activity is one of the key factors for straightening national competitiveness under the conditions of globalization. It is thanks to innovations that the business entity has the ability to develop its market positions, improve its economic efficiency and in turn create a bigger added value. At the same time, it is important to commercialize the results of the innovation activity are as much as possible, which aims at offering new high-tech products and services for the market. The effectiveness of its successful implementation enables innovation’s introduction on the market, as well as the achievement of its sustainable competitive advantages. That is why the problem of commercialization of innovative products should be seen by society, government, private business, scientists, because the solution of this problem lays in the competitiveness of goods and effects human life standards. The purpose of the work is to highlight the problems that arise during the innovative products’ commercialization and to offer solutions to them. Results. Based on the review and synthesis of literary sources, as well as the study of empirical data from domestic enterprises the key problems of high-tech products commercialization were identified, they include the following: the danger of premature diffusion of high-tech products, which is uncontrollable by the commercialization subjects; inaccuracy during the assessment of demand for high-tech products and forecasting their sales volume; the adequate choice strategy complexity and development of tactics for the promotion of high-tech products in the market; the lack of reasonable pricing approaches for high-tech products. Conclusion. The article presents the key problems of innovative products’ commercialization and their solutions. The main directions for solving these problems were developed. In order to ensure both process of innovative products’ commercialization and innovative activity in general we propose number of recommendations in order to form an extensive information base for employees of the management subsystem and business analysts.
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Kozyk, Vasyl, Oleksandra Mrykhina, Iryna Fadyeyeva, Lidiya Lisovska, Ihor Novakivskyj, and Iryna Zinchuk. "Pricing Model For Eco-Innovative Products On The Basis Of Its Technological Readiness." IOP Conference Series: Earth and Environmental Science 628 (January 23, 2021): 012033. http://dx.doi.org/10.1088/1755-1315/628/1/012033.
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BIAGINI, FRANCESCA, and JAN WIDENMANN. "PRICING OF UNEMPLOYMENT INSURANCE PRODUCTS WITH DOUBLY STOCHASTIC MARKOV CHAINS." International Journal of Theoretical and Applied Finance 15, no. 04 (June 2012): 1250025. http://dx.doi.org/10.1142/s0219024912500252.
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This paper provides a new approach for modeling and calculating premiums for unemployment insurance products. The innovative modeling concept consists of combining the benchmark approach with its real-world pricing formula and Markov chain techniques in a doubly stochastic setting. We describe individual insurance claims based on a special type of unemployment insurance contracts, which are offered on the private insurance market. The pricing formulas are first given in a general setting and then specified under the assumption that the individual employment-unemployment process of an employee follows a time-homogeneous doubly stochastic Markov chain. In this framework, formulas for the premiums are provided depending on the ℙ-numéraire portfolio of the benchmark approach. Under a simple assumption on the ℙ-numéraire portfolio, the model is tested on its sensitivities to several parameters. With the same specification the model's employment and unemployment intensities are estimated on public data of the Federal Employment Office in Germany.
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Myring, Mark J., and Robert Bloom. "International Transfer Pricing and Intellectual Property: The PrimeCo Case." Issues in Accounting Education 22, no. 4 (November 1, 2007): 769–74. http://dx.doi.org/10.2308/iace.2007.22.4.769.
Повний текст джерелаАнотація:
This case introduces students to issues related to international transfer pricing for intellectual property. PrimeCo is a manufacturer of cellular telephone (cell phone) components. The firm has invested extensively in research and development activities. As a result, it has received many patents for innovative cell phone parts. PrimeCo recently established a subsidiary (SubCo) to manufacture its products for the Asia-Pacific region. The establishment of SubCo raises many difficult questions. Specifically, students are asked to address issues related to modes of entry into foreign markets, methods of transfer pricing in royalty arrangements, tax laws underlying transfer pricing, and ethical aspects of applying transfer prices.
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Zhang, Ning, and Yanran Yuan. "Modeling and Forecasting Morbidity and Disease-mortality of Chinese Impaired Lives with the General Chronic Diseases." Journal of Systems Science and Information 2, no. 1 (February 25, 2014): 38–46. http://dx.doi.org/10.1515/jssi-2014-0038.
Повний текст джерелаАнотація:
Abstract The paper did some work to analyze the longevity risk of impaired lives with general chronic diseases. The work was based on the age-specific, time-specific and disease-specific data set which is from the underwriting data base, the Chinese healthy yearbook and the medical institution. After some analysis on the final data, the results showed that there was an obvious upward trend in morbidity and downward trend mortality. All the results can be used in the pricing process of insurance products for impaired lives. The paper also showed the pricing results of innovative life insurance products for impaired lives with diabetes. The conclusion means a good market chance for any insurance companies.
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Feurer, Sven, Monika C. Schuhmacher, and Sabine Kuester. "How Pricing Teams Develop Effective Pricing Strategies for New Products." Journal of Product Innovation Management 36, no. 1 (April 8, 2018): 66–86. http://dx.doi.org/10.1111/jpim.12444.
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Sun, D., C. Solon, S. Park, and R. Beckerman. "An Analysis of the Drivers of Pricing Premiums Granted to Innovative Products in Japan." Value in Health 17, no. 7 (November 2014): A795. http://dx.doi.org/10.1016/j.jval.2014.08.460.
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Ragab, S., G. Elsisi, R. Hassan, R. Aboushady, M. Atef, Z. Kalo, S. Abaza, and M. Shaheen. "CHALLENGES THAT FACE THE APPLICABILITY OF MULTI-INDICATION PRICING FOR INNOVATIVE PRODUCTS IN EGYPT." Value in Health 19, no. 3 (May 2016): A293. http://dx.doi.org/10.1016/j.jval.2016.03.842.
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LYBECKER, KRISTINA M., and ROBERT A. FREEMAN. "Funding pharmaceutical innovation through direct tax credits." Health Economics, Policy and Law 2, no. 3 (July 2007): 267–84. http://dx.doi.org/10.1017/s1744133107004215.
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Abstract:Rising pharmaceutical prices, increasing demand for more effective innovative drugs and growing public outrage have heightened criticism of the pharmaceutical industry. The public debate has focused on drug prices and access. As a consequence, the patent system is being reexamined as an efficient mechanism for encouraging pharmaceutical innovation and drug development. We propose an alternative to the existing patent system, instead rewarding the innovating firm with direct tax credits in exchange for marginal cost pricing. This concept is based on the fundamental assumption that innovation that benefits society at large may be financed publicly. As an industry which produces a social good characterized by high fixed costs, high information and regulatory costs, and relatively low marginal costs of production, pharmaceuticals are well-suited to such a mechanism. Under this proposal, drug prices fall, consumer surplus increases, access is enhanced, and the incentives to innovate are preserved.
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He, Jianhong, Lei Zhang, Xiao Fu, and Fu-Sheng Tsai. "Fair but Risky? Recycle Pricing Strategies in Closed-Loop Supply Chains." International Journal of Environmental Research and Public Health 15, no. 12 (December 14, 2018): 2870. http://dx.doi.org/10.3390/ijerph15122870.
Повний текст джерелаАнотація:
We argue that a Nash bargaining model with behavioral factors (i.e., fairness concern and risk aversion) should be introduced to the price strategizing process in the context of a closed-loop supply chain. We consider three different pricing models: The first is when both the manufacturer and the retailer have fairness concerns; the second is when both the manufacturer and the retailer have risk aversion; and the final is when the manufacturer has risk aversion but the retailer has both risk aversion and fairness concern. Then we examine the model with game theory. The results have shown that fairness and risk aversion change the optimal pricing strategy, which affects the expected profits of retailers and manufacturers. The impacts of two (relatively irrational) behavioral factors on the wholesale and retail prices of new products, the recycle price and recycle transfer price of the waste products, are not the same. For new products, the wholesale price is most affected by behavioral factors and the sales price scores second. For waste recycling products, the transfer price is most affected by behavioral factors and the recycle price scores second. When considering fairness and risk aversion in retail, fairness concern is good for both manufacturers and retailers. This innovative pricing strategy model adds implications for sustainability in supply chain operations.
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SCHIELE, HOLGER, JASPER VELDMAN, and LISA HÜTTINGER. "SUPPLIER INNOVATIVENESS AND SUPPLIER PRICING: THE ROLE OF PREFERRED CUSTOMER STATUS." International Journal of Innovation Management 15, no. 01 (February 2011): 1–27. http://dx.doi.org/10.1142/s1363919611003064.
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In this article, we study the antecedents of supplier innovativeness and supplier pricing. Based on an extensive literature review, we identify different types of antecedents: (1) 'technical' antecedents, which include the capabilities of suppliers to innovate (such as their level of R&D investment) and (2) 'behavioural' antecedents, which focus on the position of the buyer as a supplier's preferred customer. We hypothesise that the two antecedents influence supplier innovativeness in a positive way. Furthermore, we analyse supplier pricing behaviour. We assume that suppliers' awareness of their capabilities to innovate might provoke them to charge unfair prices, while preferred customer status may reverse this tendency and lead to more benevolent supplier pricing behaviour. We test the conceptual framework using a sample of 166 buyer-supplier relations. We find out that technical and behavioural antecedents can explain supplier innovativeness to a large extent, with the role of preferred customer status striking out. Remarkably, whereas we expected that suppliers who are involved in innovation would be found to charge higher prices for their contributions to newly developed products, our results show that this effect is not statistically significant. The missing link between supplier pricing and supplier innovativeness can encourage firms to engage in collaborative innovation, at all, because buyers do not need to fear being overcharged. Implementing a preferred customer policy can improve the conditions for innovating with suppliers.
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Zhao, Guanbing, Yangyang Qiu, Muhammad Imran, and Fazal Manan. "Customer Knowledge Enabled Innovation: Analyzing Pricing-Promotion Coordination Mechanism." Complexity 2021 (June 21, 2021): 1–11. http://dx.doi.org/10.1155/2021/5588724.
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Pricing and promotion are two important decisions during the market launch of new consumer electronics products. Nowadays, the pricing and promotion of consumer electronic products are often not made separately but at the same time. This study focuses on the pricing-promotion coordination mechanism of a secondary supply chain of new consumer electronics products (which consists of a manufacturer and a seller). Price and the degree of promotion together affect the demand for products. Manufacturers give sellers a sales target. Manufacturers and sellers set prices and promotions separately, introduce repurchase penalty joint contracts, and establish supply chain profit models to compare and analyze optimal pricing, promotion efforts, and maximum profit of supply chains under different decision-making situations. We prove that the repurchase penalty joint contract can coordinate the supply chain under the assumptions of a single-period game and a multiperiod repeated game. The results show that under the repurchase penalty joint contract, when manufacturers and sellers choose high prices and high promotions at the same time, the supply chain of new consumer electronics products has the largest profit. Finally, numerical experiments are conducted to study the influence of parameters on optimal decision-making and supply chain profits.
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Kido, Kaori, Naoki Matsumaru, and Katsura Tsukamoto. "VP71 Health Technology Assessment In Japan: Current Issues And Challenges." International Journal of Technology Assessment in Health Care 33, S1 (2017): 182–83. http://dx.doi.org/10.1017/s0266462317003464.
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INTRODUCTION:Japan plans to introduce Health Technology Assessment (HTA) in 2018 after a two-year trial period. Japan currently requires HTA for certain innovative products which may have a large budget impact. Through this trial implementation, the government can examine the criteria of applicable products, the necessary infrastructure to conduct and evaluate HTA, the quality of data content, and localization to meet the current Japanese reimbursement and pricing scheme. However, the pharmaceutical industry in Japan is still puzzled by this introduction. The aim of this study is to visualize the issues and implementation challenges of HTA in Japan through a survey of the pharmaceutical industry.METHODS:A semi-structured nineteen-item questionnaire was designed and the survey was conducted through face-to face or phone interviews. Answers were summarized after the interview and confirmed with the respondents via e-mail. The survey focused on pharmaceutical companies which develop new innovative products.RESULTS:The differences between Japanese and non-Japanese pharmaceutical companies were observed in terms of HTA staff expertise and experience, the source of HTA data, and relationships with external vendors. Many respondents stated that a sufficient number of HTA professionals in Japan is critical to implement HTA, and raised a concern that the same public experts who are involved in HTA preparation may also review HTA submissions. Although companies are generally pessimistic about HTA for pharmaceutical pricing, they also have some positive views that HTA may be used as an indicator to enable stakeholders to understand product value. Many are unsure about the link between HTA and pharmaceutical prices.CONCLUSIONS:If HTA is implemented for an extended number of products, a shortage of experts may cause delays of HTA review and appraisal processes. Consequently, product launch and patient access will be delayed. Practical timing of HTA review and appraisal after product launch could affect the results of re-pricing.
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Krivenko, E., A. Kocharyan, V. Tigranyan, and N. Mirzebalaeva. "PROBLEMS OF RESOURCE SAVING AND INNOVATIVE DIRECTIONS OF THEIR SOLUTIONS IN THE CONFECTIONERY PRODUCTION." National Association of Scientists 3, no. 74 (December 30, 2021): 59–65. http://dx.doi.org/10.31618/nas.2413-5291.2021.3.74.525.
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The rational use of cocoa beans as the main raw material in the production of chocolate products is an important and complex problem in the field of resource conservation facing the confectionery industry. One of the main directions of its solution is innovative technologies for the integrated use of cocoa beans, including the processing of their shell-cocoa shell, which has become a new product of confectionery production. Its acquisition contributes to improving the efficiency of the enterprise on the basis of resource-efficient technologies. This resource efficiency technology allows the production of confectionery products of the highest quality while maintaining an affordable pricing policy for the consumer and the enterprise. And also this rational use of raw materials for confectionery production contributes to ensuring environmental safety and improving the financial and economic condition of the enterprise.
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ORLOV, Oliver. "INNOVATIONS IN PLANNING BASED ON THE MARGINAL APPROACH CONCEPT." Economy of Ukraine 2018, no. 5 (May 10, 2018): 23–34. http://dx.doi.org/10.15407/economyukr.2018.05.023.
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In modern economic theory and practice, there is a whole range of problems, where the lack of analytical tools does not allow adequately measuring the expected results. A number of hypotheses are presented; proofs of these hypotheses show that a set of important economic problems (planning of cost production, profit, break-even point by product, pricing for new products and evaluation of effectiveness of inno-vation projects) do not meet an appropriate solution because of the lack of analytical tools. As an alternative, solutions of these problems based on the marginal approach concept are proposed. Distribution of fixed costs between types of products (proposed in accordance with the concept of marginal approach) is inherently a covering of fixed costs by marginal profit and formation on this basis of profit and profitableness both by the types of products and by enterprise as a whole. The concept of the marginal approach was also used to solve the problems of pricing on new products of industrial and technical purpose, which allowed forming the lower and upper limits of prices on an anti-costly basis. Methods for evaluating the effectiveness of innovative projects, which are pre-sented in economic literature and practice from the second half of the 20th century, are reduced to comparing investments with magnitude of profit from sale of an in-novative product during its life cycle. It is proposed to compare investments with the marginal profit received by the enterprise from a new product during its life cycle (of course, taking into account discounting). The results obtained have theoretical value, since they allow new ways to form cost price, profit and profitableness by product types, offer an anti-costly approach to pricing with provision of appropriate tools, as well as evaluation of effectiveness of innovation projects. And a practical significance of these results is to create ap-propriate conditions for a flexible cost management, profits and prices, which is es-pecially important for a rapidly changing market conditions.
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Hunt, James M., and Howard Forman. "The role of perceived risk in pricing strategy for industrial products: a point‐of‐view perspective." Journal of Product & Brand Management 15, no. 6 (October 1, 2006): 386–93. http://dx.doi.org/10.1108/10610420610703711.
Повний текст джерелаАнотація:
PurposeThe purpose of this research paper is to examine the role corporate and individual risk (from the point of view of the pricing manager) plays in developing pricing strategies.Design/methodology/approachManagerial professionals in two graduate business programs were used to assess riskiness associated with pricing strategies. Grounded in attribution theory, t‐tests were used to compare the different types of risk associated with the various pricing strategies.FindingsThe findings suggest that pricing managers will view risk from different perspectives (i.e. corporate and individual) and that this “point of view” should have an impact on the pricing strategies selected.Research limitations/implicationsResearch limitations include the use of graduate students in lieu of actual pricing managers. However, this research is a first step in examining the different perspectives of risk that may be taken by managers.Practical implicationsPricing managers and organizations alike should be made aware of how a point‐of‐view perspective regarding risk can have a significant impact on selecting pricing strategies. The results of the study could provide guidance for corporations so that they can make sure pricing managers have the “correct” point of view regarding the riskiness of pricing strategies.Originality/valueThe research is the first to identify and examine the different risk perspectives. This provides value for academic research because it is the first in the area of risk regarding the different perspectives.
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POLYATKOVA, E. A. "PROBLEMATIC ISSUES OF MANAGING THE PROCESS OF INVESTING IN INNOVATIVE DEVELOPMENTS OF MILITARY-INDUSTRIAL ENTERPRISES." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 3, no. 12 (2020): 79–83. http://dx.doi.org/10.36871/ek.up.p.r.2020.12.03.010.
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The enterprises of the military-industrial complex, whose main income comes from the state defense order, under the conditions of the current pricing for products supplied to state customers, do not form a sufficient amount of net profit, which could be used for investment in research and development. This fact also causes difficulties in attracting bank loans and other borrowed funds to finance such projects. This article describes the practical experience of a holding company in the ammunition industry in managing the process of investing in innovative developments and problematic issues concerning funding sources for these projects.
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Horgan, Denis, Andres Metspalu, Marie-Christine Ouillade, Dimitrios Athanasiou, John Pasi, Oumeya Adjali, Patrick Harrison, et al. "Propelling Healthcare with Advanced Therapy Medicinal Products: A Policy Discussion." Biomedicine Hub 5, no. 3 (December 3, 2020): 1–23. http://dx.doi.org/10.1159/000511678.
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Recent advances in biomedicine are opening the door to new approaches, and treatment and prevention are being transformed by novel medicines based on genetic engineering, innovative cell-based therapies and tissue-engineered products, and combinations of a medical device with embedded cell or tissue components. These advanced therapy medicinal products (ATMPs) hold one of the keys to making a reality of genuinely personalised medicine. There are an estimated 450 companies across the globe working on the development of gene therapies and more than 1,000 clinical trials underway worldwide, and some 20–30 new ATMPs filings are expected in Europe annually over the next 5 years. But challenges confront the sector, complicating the translation from research into patient access. Scientific, clinical development and regulatory issues are compounded by limited experience with clinical and commercial use, limited manufacturing know-how, high costs, and difficulties in accessing development funding and investment. Pricing and reimbursement and market access issues are an additional challenge, particularly in Europe, where unfamiliarity with the technology and uncertainty over the use of real-world evidence induce caution among clinicians, health technology assessment bodies and payers. There is a need for a review of the suitability of the regulatory and market access framework for these products, focused development of data, public/private partnerships, and fuller collaboration governments, doctors, insurers, patients, and pharmaceutical companies. This paper makes specific recommendations for all stakeholders, ranging from early dialogue on potential products, linking of clinical data and patient registries or standardisation of control frameworks, to a comprehensive approach to evidence generation, assessment, pricing, and payment for ATMPs.
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Shao, Lingzhi. "The Pricing Decision and Channel Choice of Upgraded Products in the Presence of Strategic Consumers." Mathematical Problems in Engineering 2021 (January 13, 2021): 1–10. http://dx.doi.org/10.1155/2021/6674676.
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Many dual-channel suppliers need to make appropriate strategies for their upgraded products in the presence of strategic consumers. This paper develops a two-period dynamic game framework to explore the optimal pricing and upgrade the channel choice when the supplier introduces new upgraded products to a market populated by strategic consumers. The results show that, under any upgrade channel choice, the strategic consumers’ behavior has impacts on supplier and retailer’s pricing decisions and reduces their profit. The supplier could choose appropriate upgrade channel to improve his performance according to the consumers’ patience and innovation level of upgrade products. The supplier should choose pure offline channel to upgrade products when the innovation level of upgraded product B is relatively small. With the sufficiently high innovation level, the supplier should adopt pure offline channel to upgrade products when consumers’ patience is low and uses dual-channel upgrade strategy when the patience is high enough.
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Paun, Dorothy A., Larry D. Compeau, and Dhruv Grewal. "A Model of the Influence of Marketing Objectives on Pricing Strategies in International Countertrade." Journal of Public Policy & Marketing 16, no. 1 (March 1997): 69–82. http://dx.doi.org/10.1177/074391569701600107.
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As international markets become increasingly more competitive, firms must employ innovative marketing strategies merely to survive. One such strategy is the use of international countertrade. Offering to countertrade or responding to countertrade offers not only can enable a firm to survive, but also can provide the firm with the opportunity to achieve its marketing objective. Because countertrading involves complex exchanges of widely disparate products with debatable values, the pricing strategy employed is an important factor. The authors develop and empirically test a model of the influence of marketing objectives on buyers’ price expectations and sellers’ pricing strategies in international countertrade. Qualitative interviews provide insight into the world of countertrading and assist the articulation of the model and research methodology. A mail survey involving 108 countertrade practitioners from 23 countries offers support for 22 of the 24 hypotheses. The authors develop implications for policymakers and managers.
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Hartshorn, James, Michael Maher, Jack Crooks, Richard Stahl, and Zoë Bond. "Creative destruction: building toward sustainability." Canadian Journal of Civil Engineering 32, no. 1 (February 1, 2005): 170–80. http://dx.doi.org/10.1139/l04-119.
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The engineering community at large, and the civil engineering community in particular, has the opportunity and arguably the obligation to promote a development agenda that considers not only the economics of development, but also the health of the environment and society at large. In this paper, we contemplate the challenge of sustainable development and its effect on project scale and scope. We discuss the inherent opportunity to drive the "creative destruction" of the development industry, using innovation to exploit inefficiencies in the planning and management of engineering systems to create a range of "future" products and services that challenge existing practice. We review the impact of procurement policy, contract pricing, prescriptive codes, and public policy on innovation. Several examples of innovative design and sustainable development introduced into the planning and management of Canadian civil engineering projects are provided. We assert that the most effective means of promoting the sustainability of built environment and civil infrastructure systems will be through inter- and intra-industry collaboration with the support of public policy-makers.Key words: sustainable development, civil, engineering, infrastructure, innovation, creative destruction, environment, collaboration.
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Forbes, Kevin F. "Pricing of related products by a multiproduct monopolist." Review of Industrial Organization 3, no. 3 (March 1988): 55–73. http://dx.doi.org/10.1007/bf02229566.
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Gazman, V. "The Impact of Alternative Models of Leasing on Financing Investments." Voprosy Ekonomiki, no. 7 (July 20, 2013): 82–97. http://dx.doi.org/10.32609/0042-8736-2013-7-82-97.
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For the modernization of the economy some specific financial technologies can be useful. They have hardly been used in Russia, but can greatly increase the share of leasing in investment and attract domestic and foreign capital in new projects, including infrastructure, extend financial leverage of loans. This article explores the benefits of innovative models of leasing, theoretical and methodological aspects of their formation, identifies the criteria for using the proposed models, and conducts regression analysis of factors that influence the pricing of large-scale leasing projects. These models expand the line of investment products, promote competition between sources of funding of leasing.
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Kyfiak, Oleksandr. "Pricing as a component of a marketing strategy for the development of tourism destinations in the West-Ukrainian border areas." Herald of Ternopil National Economic University, no. 1(91) (January 1, 2019): 51–59. http://dx.doi.org/10.35774/visnyk2019.01.051.
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Based on the analysis and observation of the effective use of tourism opportunities in West-Ukrainian border areas, the study defines the following key tourist attractions: historical, cultural and architectural sights; unique natural recreational resources; proximity to borders and transport accessibility; organized local cross-border circulation (border- crossing by tourists, local residents, businesspeople); ethnic ties; knowledge of languages, traditions, customs and rituals; cross-border cooperation and membership in European regions; developed frontier infrastructure; the capacity of border crossing points, etc. The results of monitoring and comparing prices for tourism services and tourism products in the West-Ukrainian border areas and adjacent regions of other countries, there price differences for the same sets of tourism services, quality of services and function, as well as factors influencing the pricing in tourist destinations. Using Tourist Lviv as an example of pricing in a tourist destination, the specific features and the most common methods for pricing are determined. The author states that the analysis of demand for tourism services in tourist destinations such as Tourist Lviv, Sports Bukovel, Health Truskavets, Recreation Morshyn, Tourist Bukovyna, Historical Khotyn has helped to introduce innovative approaches to pricing in these destinations. It is proposed to regulate prices dynamically depending on the value for money for particular tourism services. The author also suggests other approaches based on the purchasing power of tourists in destinations where prices for guided group tours with interpreters and instructors are much cheaper than those for individual travelers, and where new exclusive special tours promote introducing client-oriented prices at the point of equilibrium between interests of sellers and buyers. It is established that in many popular tourist destinations in the West-Ukrainian border areas the paradigm of fixed pricing is becoming a paradigm of dynamic pricing, and dynamic pricing strategies seem to be more rational in comparison with fixed pricing strategies.
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Horgan, Denis, and Alastair Kent. "EU Health Policy, Coherence, Stakeholder Diversity and Their Impact on the EMA." Biomedicine Hub 2, Suppl. 1 (November 21, 2017): 1–11. http://dx.doi.org/10.1159/000481301.
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Innovation is a major pillar in bringing new, targeted medicines to patients. In the health arena, this means the translation of knowledge into what we can call “value.” The latter covers the value to patients but must also take into account value to healthcare systems, society and, of course, manufacturers. The EU has recognised that innovations in healthcare can contribute to the health and well-being of citizens and patients through access to new products, services and treatments with added value. It is also aware that in order to stimulate development, there is a need to facilitate the translation of scientific advances into innovative medicinal products that meet regulatory standards, accelerate patients' access to new therapies and are affordable to Member States' health systems. Early dialogue between technology developers, regulators, health technology assessment and, where relevant, pricing bodies will promote innovation and quicker access to medicines at affordable prices, for the benefit of patients. But while uncertainties in healthcare policy still exist, a request by the European Ombudsman to the European Medicines Agency to provide more information about its early dialogue procedures questions the above “early dialogue” principal. It raises the issue of what the EU aims to do with its health regulation in bringing innovation to the patient. Is this added uncertainty about the hereto trusted role of the EMA a welcome development? Not necessarily.
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Taleizadeh, Ata Allah, Masoumeh Sadat Babaei, Seyed Taghi Akhavan Niaki, and Mahsa Noori-daryan. "Bundle pricing and inventory decisions on complementary products." Operational Research 20, no. 2 (July 10, 2017): 517–41. http://dx.doi.org/10.1007/s12351-017-0335-4.
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Jawad, Aya Shaheen, and Saadoun Hammoud Jatheer. "The Impact of Innovative Marketing on the Organization's Reputation by Mediating the Brand _ Field Research in the Oil Marketing Company (SOMO)." Journal of Economics and Administrative Sciences 27, no. 128 (June 30, 2021): 1–28. http://dx.doi.org/10.33095/jeas.v27i128.2153.
Повний текст джерелаАнотація:
The research aims to verify that there is an influence between innovative marketing and the organization's reputation by brand mediation.
The research problem is that the Oil Marketing Company (SOMO) needs innovative, unconventional methods in marketing its products and improving its reputation by adopting a solid brand that adds value to the product.
The importance of the research: The importance of the research is highlighted as it deals with essential variables in business organizations that help increase customer loyalty by adopting a distinctive brand.
The research started from four main hypotheses to explore correlations and influence between research variables.
The answers of the research sample, which included (221) male and female employees of the Oil Marketing Company (SOMO), were analyzed.
Data and information were collected using the questionnaire, personal interviews, as well as the field presence of the researcher, and the data were analyzed using the statistical program (SPSS v.24, AMOS v.23) and a set of statistical methods such as factor analysis, the arithmetic mean, and the standard deviation, Coefficient of variation, correlation coefficient (person), simple linear regression equation, and Soble's test.
The study sample members agreed in their answers with a good evaluation level about the innovation marketing variable, especially product innovation and pricing innovation, which explains this result that the SOMO oil company management seeks to adopt multiple marketing methods to increase its oil sales at the local and global levels
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Zhang, Zhichao, Bengang Gong, Juan Tang, Zhi Liu, and Xiaoxue Zheng. "The joint dynamic green innovation and pricing strategies for a hybrid system of manufacturing and remanufacturing with carbon emission constraints." Kybernetes 48, no. 8 (September 2, 2019): 1699–730. http://dx.doi.org/10.1108/k-06-2018-0339.
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Purpose Under the carbon regulation mechanism, managing operational strategies is a challenging task. Green innovation is introduced into a hybrid system of manufacturing and remanufacturing to handle the carbon emission constraints in a dynamic market environment. This paper aims to investigate the joint dynamic green innovation policy and pricing strategies in a hybrid manufacturing and remanufacturing system. Design/methodology/approach This paper first considers a monopolistic manufacturer who offers brand-new products and remanufactured items at the same price to consumers. Subsequently, the authors extend their analyses to distinct pricing strategies for both newly manufactured products and refurnished ones in such a hybrid system. Two different cases are considered: a loose carbon emission constraint and a binding carbon emission constraint. By solving the dynamic optimization problem, the differential game and Pontryagin’s maximum principle are used to obtain the joint green innovation and pricing strategies. Findings The retail price first increases then declines over a single period. The green innovation diminishes in the same pricing decision model, while it first increases then declines in a distinct pricing decision model over a single planning horizon. The green innovation investment as well as the retail price are discouraged by an emission cap and recycling fraction. The distinct retail price fluctuates violently, and they are, in descending order of the highest peak price as follows: the newly manufactured product, the same pricing product and the repaired product. Carbon emission caps that are either too high or too low decrease the revenue of the manufacturer. A small emission constraint margin benefits the manufacturer. The recycling policy, as well as other parameters, affects whether the hybrid system attains the carbon emission constraint or not, which suggests that the recycling policy is complementary to the carbon emission constraint mechanism in the hybrid system. Practical implications These results offer managerial implications to the hybrid system in terms of green innovation, pricing strategies and recycling policy. Originality/value This paper is among the first papers to research the joint dynamic green innovation policy and pricing strategies with/without a carbon emission constraint in a hybrid manufacturing and remanufacturing system with a differential game. Moreover, this paper presents a potential way of investigating other common resource constraints by a differential game in a manufacturing/remanufacturing system or closed loop supply chain.
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Huh, Woonghee Tim, Soulaymane Kachani, and Ali Sadighian. "Optimal Pricing and Production Planning for Subscription-Based Products." Production and Operations Management 19, no. 1 (January 2010): 19–39. http://dx.doi.org/10.1111/j.1937-5956.2009.01065.x.
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Scherer, F. M. "Pricing, Profits, and Technological Progress in the Pharmaceutical Industry." Journal of Economic Perspectives 7, no. 3 (August 1, 1993): 97–115. http://dx.doi.org/10.1257/jep.7.3.97.
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The decades-old debate over pharmaceutical industry prices, profits, and innovation has again intensified. A number of events coalesced to refocus public interest on pharmaceuticals. Contributing to public concern were Bureau of Labor Statistics price index increases for pharmaceuticals far outpacing those for the products of other industries. Another prominent characteristic of the pharmaceutical industry has been its extraordinarily high reported profitability. This article examines the phenomena that precipitated the current pharmaceuticals debate, their historical antecedents, and the principal questions at issue. In the author's considered judgment, a pell-mell march toward regulation of pharmaceutical industry pricing could seriously impair the industry's incentives for investment in new products.
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Bitsch, Linda, Jon Henrich Hanf, and Jens Rüdiger. "An innovative price-setting approach: a pay-what-you-want experiment." British Food Journal 122, no. 8 (March 3, 2020): 2481–96. http://dx.doi.org/10.1108/bfj-07-2019-0504.
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PurposeDue to high competition in the agricultural industries and heterogeneous products, the setting of prices for direct sales to consumers is difficult. In recent years, pay-what-you-want (PWYW) is discussed as an innovative pricing strategy. This study analyses whether the implementation of a pay-what-you-want strategy can be successful and if there is a willingness to pay from the consumers for wine touristic offers. Furthermore, the study analyses, in general, how suitable experiments are as a research tool.Design/methodology/approachA PWYW mechanism creates a situation of strategic decision- making that can be modelled as a game. This can be transferred to an experimental setting. The results were analysed with a two-sided MWU test (Stata, ranksum) in order to determine whether the differences are statistically significant.FindingsParticipants pay positive prices, although theory predicts the opposite. PWYW is a good strategy to analyse the willingness-to-pay for heterogeneous and homogenous services or products. Information or reference prices have no clear influence on the willingness to pay, confirming results of other studies. There is no influence of gender and age on the payments.Practical implicationsIn general, consumers have a willingness to pay positive prices for wine- touristic offers. The willingness to pay is not different for people with or without wine knowledge. For the chosen variable information and reference price, wine producers do not have to address target groups differently.Originality/valueIt is the first study which analyses the pay-what-you-want mechanism as a tool for wine touristic activities. In addition, an experimental approach was used to analyse an innovative, consumer-based price-setting strategy.
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Shiroiwa, Takeru. "Cost-effectiveness evaluation for pricing medicines and devices: A new value-based price adjustment system in Japan." International Journal of Technology Assessment in Health Care 36, no. 3 (May 18, 2020): 270–76. http://dx.doi.org/10.1017/s0266462320000264.
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ObjectivesIn Japan, a new cost-effectiveness evaluation system for medicine and medical device pricing was employed in April 2019 after a trial implementation. This study describes the discussions held from April 2016 to March 2019 concerning the newly introduced system.MethodsUsing published government documents, discussions with stakeholders, and the minutes of the Chuikyo committee meetings, the following issues are addressed: (i) the results of the trial implementation and (ii) an overview of the newly introduced system.ResultsDuring the trial implementation, thirteen products were evaluated and their prices adjusted. The process of the new system—which was to be implemented in FY 2019—takes about 15–18 months to complete after listing of the target products by the National Health Insurance. The target products are selected principally based on sales volume, degree of innovation (premium), and disclosure of rationale for price setting. First, a manufacturer submits the cost-effectiveness data, which is then reviewed by the Center for Outcomes Research and Economic Evaluation for Health (C2H) in collaboration with academics. The results of the cost-effectiveness evaluation are not considered during the decision-making process concerning the product's listing. The price adjustment system is similar to value-based pricing (VBP); hence, the new system can be considered as VBP adjustment.ConclusionCost-effectiveness evaluation can help promote both technological innovation and sustainability of the healthcare system. We need to create a greater capacity for enhancing this academic review system.
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Thiesse, Frederic, and Moritz Kohler. "An Analysis of Usage-Based Pricing Policies for Smart Products." Electronic Markets 18, no. 3 (August 2008): 232–41. http://dx.doi.org/10.1080/10196780802265751.
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Umarov, Ilkhom, Nursultan Shurenov, Zhanna Kozhamkulova, and Kyz-Zhibek Abisheva. "Marketing and innovative aspects of the research of the competitiveness of countries in the grain market (for example, wheat)." E3S Web of Conferences 159 (2020): 04003. http://dx.doi.org/10.1051/e3sconf/202015904003.
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This article discusses the key aspects of the development of grain production in countries exporting wheat and using innovations in its production. As you know, wheat is a strategic product of many countries and many sectors of the economy depend on its production. In terms of competitiveness, wheat ranks first among other agricultural products in terms of pricing and planting area. The yield and price of wheat are affected by many factors that are considered in this article. In order to analyze all aspects affecting the yield and price of wheat, we had to study the literature on the wheat market and its production. In addition, an analysis was made of the trends in the development of grain production in countries producing and exporting wheat. This study has collected data from the last 5 years for world countries exporting wheat.
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Chen, Mingchun, Zhiying Liu, and Chaoliang Ma. "Early bird or versioning." Asia Pacific Journal of Marketing and Logistics 32, no. 3 (July 18, 2019): 769–92. http://dx.doi.org/10.1108/apjml-12-2018-0529.
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Purpose Crowdfunding, especially reward-based crowdfunding, has quickly evolved into a commonly used vehicle for innovating entrepreneurs to develop their products. Many crowdfunding platforms allow creators maximum flexibility in terms of the prices and rewards offered in a project to gain sufficient capital. However, creators need to understand how to design project rewards and how to select a pricing strategy, in addition to whether the creator should spend resources on designing multiple rewards of varying quality. The purpose of this paper is to address these issues by answering whether and why there are significant differences in the application of early-bird and versioning pricing strategies in crowdfunding. Design/methodology/approach This paper develops a two-stage dynamic game model with incomplete information, proposes a corollary calculated by analyzing a perfect Bayesian equilibrium, and then tests Corollary 1 by empirical analysis. Findings Contrary to the findings of other studies, the results show that an early-bird pricing strategy is likely better than a versioning pricing strategy for earning greater revenue in a crowdfunding context, on average. This finding means that creators do not have to spend as much in designing rewards of various qualities; rather, they should only provide multiple price options for high-quality rewards. However, if the heterogeneity of target backers’ valuations and the quality difference between two types of products are adequately high, a versioning pricing strategy may be a good choice for creators. Practical implications This paper provides a reference for creators regarding the selection of pricing strategies and the design of reward quality when launching crowdfunding projects. Originality/value This paper explains an interesting and practical issue in the design of reward quality and the selection of a pricing strategy after fully considering the role of the crowdfunding all-or-nothing mechanism and special backer behavior.
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Olbrich, Rainer, and Hans Christian Jansen. "Price-quality relationship in pricing strategies for private labels." Journal of Product & Brand Management 23, no. 6 (September 9, 2014): 429–38. http://dx.doi.org/10.1108/jpbm-06-2014-0627.
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Purpose – This article aims to close some research gaps by differentiating between brand types and price tiers. Many consumers perceive high prices as signals of high quality, yet researchers tend to find only low average correlations between price and objective quality. Previous studies do not account for market shares and paid prices though. Design/methodology/approach – A German consumer panel with more than 30,000 households reveals market shares and paid prices. Combining these data with product test ratings, the authors evaluate price-quality relationships with Spearman’s rank correlation coefficients and distinguish food from non-food products, national brands and private labels and three price tiers. Findings – High price-quality correlations for national brands and non-food private labels indicate that a higher price signals greater product quality. For food private labels, negative correlation coefficients inhibit the use of price as a quality indicator. The price-quality relationship for food private labels implies strong competition among brand owners, based on the price and quality of their products. Originality/value – This article investigates price-quality correlations by accounting for paid prices and product market shares; it also reveals differences across food and non-food products, national brands and private labels and different price tiers against the background of competition strategies. By addressing when consumers use price as a quality indicator, it outlines important managerial implications for manufacturers, retailers and consumers.
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Gao, Yun Jing, Lin Lin Zhou, and Hui Huang Pi. "Research on Durable Consumer Goods Manufacturer's Pricing Decision." Applied Mechanics and Materials 687-691 (November 2014): 4823–27. http://dx.doi.org/10.4028/www.scientific.net/amm.687-691.4823.
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The pricing decision of consumer goods manufacturing enterprise is a very important part in its business strategies. Price of the product is directly related to the ability to obtain the expected earnings. In this paper, based on the analysis of the characteristics of durable consumer goods and the factors that affect the price, considering the continuous product innovation and diversification of consumer demand, psychological factors of consumers, as well as the price timeliness, starting from the quantitative point of view, a dynamic pricing model of durable consumer goods aimed at the maximum value of products was set up. Finally, a numerical example solving by the genetic algorithm was given to verify the feasibility of the model.
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Karabatı, Selçuk, and Zehra Bilgintürk Yalçın. "An Auction Mechanism for Pricing and Capacity Allocation with Multiple Products." Production and Operations Management 23, no. 1 (June 6, 2013): 81–94. http://dx.doi.org/10.1111/poms.12032.
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Polkinghorne, R., J. Philpott, A. Gee, A. Doljanin, and J. Innes. "Development of a commercial system to apply the Meat Standards Australia grading model to optimise the return on eating quality in a beef supply chain." Australian Journal of Experimental Agriculture 48, no. 11 (2008): 1451. http://dx.doi.org/10.1071/ea05181.
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A major trial was conducted to develop, test and demonstrate the application of Meat Standards Australia (MSA) research findings in a beef retailing environment. A new concept retail store was established whereby a mix of raw beef products and pre-cooked meals were merchandised under an eating quality grade defined by MSA palatability scores. Products were presented fully prepared within cooking method with pricing based on the predicted cooked results. Large price differentials were established between the three grades offered, with 5-star product priced at more than double the 3-star product. The principle of pricing being directly related to eating quality was extended from the retail store sales to fabrication and the purchase of source cattle from producers. This encouraged considerable innovation to optimise eating quality and returns, demonstrating the potential for truly transparent value-based pricing systems to achieve change. Novel systems were developed to break down and fabricate the carcass into ‘retail-ready’ product with extensive software development to trace the eating quality, value and location of individual cuts and products. Detailed feedback provided the producer with an accurate measure of value and sufficient data to evaluate possible alternative production strategies. Results at each level of the supply chain were encouraging with compound annual growth in sales exceeding 12% at retail level and continued innovation through fabrication and on-farm areas combining to improve eating quality and financial outcomes. It was demonstrated that the consumer focus delivered by MSA grades could be applied at a commercial level providing an opportunity to reposition beef as a contemporary consumer product and to implement a value-based system across all sectors.