German food retailing is characterized by fierce competition among retail chains for consumer shopping. This paper considers the switching behaviour using data of white dairy product purchases. The empirical investigation uses a survival analysis approach, in particular hazard analysis. The...

The wine industry considered product quality as key to increasing competitiveness. However, when wines are perceived quality neutral, regardless of other existing differences, consumers will substitute one wine for another exposing producer to intense price competition. To differentiate wines, a...

The purpose of this study was to investigate the relative importance of online travel product selection attributes and examine the variations in their importance due to travel buying behaviour and demographic characteristics. The reliability and validity of the instrument were assessed prior to...

In today's dynamic environment, the change is inevitable and is the only constant thing, whether it is a change in attitude or thinking. The fast-food joints are a depiction of contemporary expertise, the conception of 'ready-cooked food to go'. Today's society depicts a contemporary swing like...

After its success in the service industry, revenue management is now an increasingly discussed topic in the process industry. The results from an empirical study among 124 firms show that the overall importance of revenue management within the process industry is regarded as high. Furthermore,...

This paper illustrates the benefits of applying mechanism design techniques to questions in revenue management, in particular to dynamic allocation and pricing problems. It is demonstrated that the solution to a sequential stochastic assignment problem under complete information can also be...

This study develops and estimates a dynamic model of consumer choice behavior in markets for seasonal goods, where products are sold over a finite season and availability is limited. In these markets, retailers often use dynamic markdown policies in which an initial retail price is announced at...

We study a seller that starts with an initial inventory of goods, has a target horizon over which to sell the goods, and is subject to a set of financial <i>milestone</i> constraints on the revenues and sales that need to be achieved at different time points along the sales horizon. We characterize the...

Motivated by applications in financial services, we consider a seller who offers prices sequentially to a stream of potential customers, observing either success or failure in each sales attempt. The parameters of the underlying demand model are initially unknown, so each price decision involves...