Assortment, location and price differentiation and impacts on macro patterns of efficiency and effectiveness: an experiment through agent-based models

Jie Meng, Hume Winzar

Research output: Contribution to journalMeeting abstractResearch

Abstract

Many pieces of research have interests in the efficiency and effectiveness of marketing systems at the micro, meso, and macro levels. With a few empirical studies recently, it is not clear how the performances at levels link to each other in the marketplace. This paper studies an agent-based simulated market system where various companies adjust their offerings and price with the different promptness in different experimented customer settings. Results indicate several critical linkages from customer preference and manager micro price decision to the meso differentiation on marketing elements, and further to consumers’ macro accessibility, affordability, and procurability.

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Agent-based model
Experiment
Assortment
Marketing
Empirical study
Linkage
Affordability
Marketing systems
Accessibility
Agent-based
Managers

Keywords

  • simulation
  • complex adaptive system
  • agent-based modelling
  • differentiation
  • efficiency
  • effectiveness
  • marketing system

Cite this

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title = "Assortment, location and price differentiation and impacts on macro patterns of efficiency and effectiveness: an experiment through agent-based models",
abstract = "Many pieces of research have interests in the efficiency and effectiveness of marketing systems at the micro, meso, and macro levels. With a few empirical studies recently, it is not clear how the performances at levels link to each other in the marketplace. This paper studies an agent-based simulated market system where various companies adjust their offerings and price with the different promptness in different experimented customer settings. Results indicate several critical linkages from customer preference and manager micro price decision to the meso differentiation on marketing elements, and further to consumers’ macro accessibility, affordability, and procurability.",
keywords = "simulation, complex adaptive system, agent-based modelling, differentiation, efficiency, effectiveness, marketing system",
author = "Jie Meng and Hume Winzar",
year = "2015",
language = "English",
journal = "ANZMAC 2015 : Innovation and growth strategies in marketing : conference proceedings",
issn = "1441-3582",
publisher = "ANZMAC",

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T2 - ANZMAC 2015 : Innovation and growth strategies in marketing : conference proceedings

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Y1 - 2015

N2 - Many pieces of research have interests in the efficiency and effectiveness of marketing systems at the micro, meso, and macro levels. With a few empirical studies recently, it is not clear how the performances at levels link to each other in the marketplace. This paper studies an agent-based simulated market system where various companies adjust their offerings and price with the different promptness in different experimented customer settings. Results indicate several critical linkages from customer preference and manager micro price decision to the meso differentiation on marketing elements, and further to consumers’ macro accessibility, affordability, and procurability.

AB - Many pieces of research have interests in the efficiency and effectiveness of marketing systems at the micro, meso, and macro levels. With a few empirical studies recently, it is not clear how the performances at levels link to each other in the marketplace. This paper studies an agent-based simulated market system where various companies adjust their offerings and price with the different promptness in different experimented customer settings. Results indicate several critical linkages from customer preference and manager micro price decision to the meso differentiation on marketing elements, and further to consumers’ macro accessibility, affordability, and procurability.

KW - simulation

KW - complex adaptive system

KW - agent-based modelling

KW - differentiation

KW - efficiency

KW - effectiveness

KW - marketing system

M3 - Meeting abstract

JO - ANZMAC 2015 : Innovation and growth strategies in marketing : conference proceedings

JF - ANZMAC 2015 : Innovation and growth strategies in marketing : conference proceedings

SN - 1441-3582

ER -