Signaling Quality: Dynamic Price-Advertising Model
Signaling Quality: Dynamic Price-Advertising Model
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DOI：
10.1007/s10957-009-9575-7
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发表时间：
2009-05
影响因子：
1.9
通讯作者：
G. Fruchter
中科院分区：
文献类型：
--
作者：
G. Fruchter
本文扩展了现有的质量信号的文献调查的价格和广告水平的质量指标在一个动态的框架。考虑到感知质量作为一种形式的商誉，我们修改了著名的Nerlove-Arrow动态模型，包括价格的影响。在我们的模型中，价格既被用作货币约束，也被用作质量的信号，而广告支出仅被用作信号设备，因此纯粹是一种耗散性支出。利用最优控制，我们确定最优的决策规则，一家公司的价格和广告随着时间的推移作为感知质量的函数。研究结果表明，当价格作为货币约束，并降低，以增加需求，企业应使用的信号作用，广告增加支出，以加速感知质量的提高。如果感知质量的价值随着感知质量的增加而增加，以百分比计算，超过了需求，公司应该提高价格（利用其信号作用）。在稳态下，我们发现，最优利润率相对于价格的水平下降的需求弹性相对于品牌价格。然而，更高的需求弹性相对于公司的感知质量和/或更高的影响价格（广告）导致/导致更高的最佳利润率（广告支出）相对于价格（收入）。
This paper extends the existing quality-signaling literature by investigating the roles of price and advertising levels as quality indicators in a dynamic framework. Considering perceived quality as a form of goodwill, we modify the well-known Nerlove-Arrow dynamic model to include price effects. In our model, price is used both as a monetary constraint and as a signal of quality, while advertising spending is used only as a signaling device, and thus purely as a dissipative expense. Utilizing optimal control, we determine optimal decision rules for a firm regarding both price and advertising over time as functions of perceived quality. The results indicate that, when prices act as monetary constraints and are reduced to increase demand, the firm should use the signaling role of advertising by increasing spending to accelerate perceived quality increases. In cases when the value of the perceived quality goes up together with the increase in the perceived quality by more than the demand, in percentage terms, the firm should increase the price (use its signaling role). At steady-state, we find that the level of optimal profit margin relative to price decreases with the elasticity of demand with respect to the brand price. However, higher elasticity of demand with respect to the firm’s perceived quality and/or a higher impact of price (advertising) lead/leads to a higher optimal profit margin (advertising spending) relative to price (revenue).