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- W4221012014 abstract "• We analyze a duopolistic market with a conventional retailer and an internet retailer. • Each retailer offers a competing attribute, yielding a 2D consumer preference model. • Optimal pricing strategies, profits, and market shares are derived. • A fully-covered market (closed-form solutions) and an uncovered market are analyzed. • We identify conditions when all consumers buy, regardless of attribute valuation. This paper studies a duopolistic market consisting of a conventional offline retailer and an online retailer, each of whom offers a competing benefit (attribute): Specifically, the conventional retailer is superior in terms of social aspects of the shopping experience, such as helpfulness of salespeople, whereas the online retailer offers the possibility of rapid and convenient procurement. Importantly, customers are assumed to be heterogeneous in the extent to which they value each attribute. We first study a scenario of a fully-covered market, in which consumers’ valuations of the attributes are high enough that every consumer purchases a product from one of the channels. In this case, we derive closed-form expressions for the retailers’ pricing strategies, their expected profits, and their market shares. We find that, surprisingly, under some conditions, the online retailer's price is higher than the conventional retailer's, despite the lower costs incurred by the former. Next, we study the realistic scenario in which the market is not fully covered (i.e., consumers have the option to avoid purchasing altogether), and compare it with the fully-covered market scenario. Specifically, we identify conditions under which, at equilibrium, each consumer buys a product, regardless of consumers’ valuations of the attributes." @default.
- W4221012014 created "2022-04-03" @default.
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- W4221012014 date "2022-01-01" @default.
- W4221012014 modified "2023-09-24" @default.
- W4221012014 title "Pricing decisions of online and offline retailers, each offering a competing benefit" @default.
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- W4221012014 doi "https://doi.org/10.1016/j.orp.2022.100231" @default.
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