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| Author: | Kopalle, P. Winer, R. |
| Title: | A dynamic model of reference price and expected quality |
| Journal: | Marketing Letters
1996 : JAN, VOL. 7:1, p. 41-52 |
| Index terms: | MARKETING PROMOTION PRODUCT QUALITY |
| Language: | eng |
| Abstract: | A number of recent papers have developed normative implications of the concept of reference price. In this paper, the authors extend that literature to incorporate the relationship between expected quality and reference price. The authors consider the case of a monopolist who makes time-varying decisions regarding price and product quality. The results suggest that when the effect of a loss on demand is greater than or equal to that of a corresponding gain, it is optimal for a monopolist to have constant price and product quality levels. |
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