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Our results show the dynamics of price adjustments in the market. The model also identifies overpriced products and predicts the price reductions needed in order to be comparatively competitive, a prerequisite for overall business performance.
#HEDONIC PRICE MODEL DRIVERS#
We find four attributes as main drivers of price: Stability, Cushioning, Flexibility and Response. We apply this method to the running shoes market. The main contribution of this paper is combining hedonic pricing with frontier analysis to estimate product efficiency, which is a novel approach. Product efficiency evaluation establishes the relative appeal of a product, when compared with the observable attributes and prices of competing products. Finding the right price for a product requires careful assessment of the product attributes. Publication History: Formerly known as Cuadernos de Economía y Dirección de Empresa See more Open AccessĪ complex critical decision in marketing and economics is pricing. Our main concern is that articles have strong theoretical foundations, meet the highest analytical standards, and provide new insights that contribute to the better understanding of managerial phenomena.
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It is therefore a multidisciplinary journal inspired by diversity and open to methodological plurality. The journal was indexed in the SCCI in 2008, and it is published in English under the new title (BRQ) since 2014.įrom its very beginnings, BRQ provides widespread coverage of high quality research in a broad range of topics such as human resource management, organization theory, strategic management, corporate governance, managerial economics, marketing, finance, accounting and operations management. Born in 1998 as Cuadernos de Economía y Dirección de la Empresa (CEDE), it soon became the leading management publication in Spanish thanks to its strong academic reputation. BRQ Business Research Quarterly is the official journal of ACEDE (Spanish Academy of Management).