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 abstract

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.
Original languageEnglish
Number of pages1
JournalANZMAC 2015 : Innovation and growth strategies in marketing : conference proceedings
Publication statusPublished - 2015
EventAustralian and New Zealand Marketing Academy Conference (2015) - Sydney
Duration: 30 Nov 20152 Dec 2015

Keywords

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

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