Amy Pan Articles: page 1

New research highlights the impact of product substitutability on retailer and manufacturer profits

GAINESVILLE, Fla. – For most people, a trip to the grocery store is a fairly simple errand. Some create lists while others rely on their memory for the items they need. But how does a customer choose among multiple items of the same type offered in a store? For example, if you’re looking to buy Greek yogurt, there are currently more than 10 brands choices available. For other items on your list, say raisin bran cereal, there are far less

A guide to technology hardware pricing: New research highlights how companies can strategically price products, contrary to conventional pricing wisdom

GAINESVILLE, Fla. – In today’s modern world, we rely heavily on technology to connect with others. From Zoom-calling into a work meeting via a Mac laptop or iPhone, to asking Alexa through the Amazon Echo to set a calendar reminder for birthdays of friends and family, hardware technology products are ubiquitous in our society. In fact, in 2019, more than 60 million Americans own a smart speaker, and Apple has 1.4 billion active devices like iPhones, iPads and Macs worldwide.

Probabilistic selling a key for companies selling vertically differentiated products, UF Warrington study finds

GAINESVILLE, Fla. –  If you were in the process of booking a hotel room in Miami, but suddenly received a notification that you could potentially reserve a room with an ocean view while only paying the rate of a room with a view of the parking lot, would you be intrigued to learn more? This selling technique is called probabilistic selling, which works by offering consumers a predetermined product assortment (a room with a view of the ocean or a