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Literature review 要求 字数5000字。 要适当联系英国火车票定价策略的文献
literature review （结构）：
一、（重点）economic theory：
1）Basic pricing theory
2）Supply and demand and what influences each
3）First, second and third degree price discrimination：
4）Segmental pricing and why the more inelastic segment pays the higher price
二、（重点）marketing theory：
1）Market position and industry strategies
2) Segmentation pricing strategies
3）Product
三、legal restriction 和 price regulation
四、management accounting literature ： (cost-plus pricing等等)
详细结构说明如下：
literature review ：
一、 economic theory：
（可参考 Begg D. Fischer S. and Dornbusch (2003) Economics, 7th ed., McGraw-Hill Education）
1）Basic pricing theory
2）Supply and demand and what influences each
3）First, second and third degree price discrimination：
可参考老师给的“提示”（关于Direct price discrimination的描述）：
（McAfee R. P. (2008) Price Discrimination in Competition Law and Policy ：
Historically, price discrimination has been divided into three types, using terminology introduced by Arthur Cecil Pigou (1877-1959).
First degree price discrimination meant perfect price discrimination, meaning that each buyer paid 100 percent of his or her subjective value of the goods purchased, and prices were based on the buyer’s identity.
Third degree price discrimination meant an imperfect form of first degree. Second degree, in contrast, has come to mean offering a menu of options, like a quantity discount, and letting buyers choose what to buy. Pigou intended, however, for second degree to mean using approximations to first degree discrimination. This nomenclature is seriously flawed. There is no sense in which second degree price discrimination is an intermediate case between first and third degree price discrimination. Instead, first and third degree price discrimination are each examples of where different groups of consumers are charged different prices for the same good, while second degree price discrimination refers to instances where consumers in a market are presented with the same set of price and quantity options and “self-select” into different groups. A more modern and perhaps more useful delineation among the various types of price discrimination designates the old first and third degrees of price discrimination as “direct price discrimination” and the second degree as “indirect price discrimination.” While direct price discrimination may use the actual identity of the customer as a basis for price discrimination, more commonly prices are conditioned on customer characteristics, and customers with the same characteristics receive the same）
4） Segmental pricing and why the more inelastic segment pays the higher price
二、marketing theory：（结构和小标题请您稍作适当修改）
（Kotler’s text, Principles of Marketing，different approaches to segmentation.）
1）Market position and industry strategies
可以讲到–Price signalling, cost leadership, geographical coverage
•By studying literature associated with the industry and academic journal articles:
–Identify the strategies that the industry is likely to employ
•Dynamic pricing of perishable products
•Differentiation of big ticket items such as cars
•Complementary product and service pricing
•Random discounting to differentiate searchers from non-searchers
•Periodic pricing if demand varies over seasons, days of the week etc
2) Segmentation pricing strategies
•Tellis’s framework and subsequent developments
–Tellis G.J. (1986) Beyond the many faces of price: an integration of pricing strategies, Journal of Marketing, Vol 50: 146-160
•How different price strategies appeal to different market segments or take advantage of barriers between segments
Tellis’s framework
•Tellis categorised pricing strategies based on:
•Customer groups
–Price insensitive, price sensitive, demographic
»Discounts and special offers appeal to price sensitive group
»Special prices for students, seniors, locals…
我后面的数据分析如下所示, 请您稍作了解，毕竟literature review是需要和我后面自己做的data collection 和 data analyzing 相结合：
通过两个网站进行火车票价搜索：
（可以同时提出查出来的“四个人的票4 adults- group tickets”，两个网站所显示的票价是不一样！）
My plans for data collection:
I want to collect the data at 00:00, 12:00 , 18:00 every day. From 14/7/2012 to 14/8/2012.
I will check the data about:
(1)Check the cheapest standard single ticket that day
(2)Check the cheapest first class single ticket that day
(3) Check the supper off peak single ticket that day
(4)Check the cheapest standard single ticket with 16-21railcard: having young person discount
(5) Check the cheapest standard single ticket for 4 adults- group tickets
(6) Check the cheapest standard single ticket tomorrow.
(7)Check the cheapest standard single ticket next week.
(8) Check the cheapest standard single ticket next month.
My data is going to measure about Segmentation pricing strategies.
The segmentation of
(1) Time of use - They charge maximum prices at peak times. But have spare capacity off-peak.
Use the data of “the cheapest standard single ticket that day” and “the supper off peak single ticket that day”
(–Some companies have to invest for peak load
Trains,–They charge maximum prices at peak times
But have spare capacity off-peak
–Need to fill this capacity at prices above variable cost
–Airlines have sophisticated systems to move prices as the flight time approaches)
(2) Time of purchase – early customers are probably sensitive
Use the data of “the cheapest standard single ticket that day”, “the cheapest standard single ticket tomorrow “, “the cheapest standard single ticket next week” and “the cheapest standard single ticket next month”
After the data collection, I can compare the price of ticket which bought on one month ago, one week ago, one day ago and that day.
(Product related strategies –Basic and advanced calculators for price sensitive and insensitive buyers )
(3) Demographic segments – young person may be more price sensitive
Use the data of “the cheapest standard single ticket “and “the cheapest standard single ticket with 16-21railcard: having young person discount”
(4) Purchase quantity
Use the data of “the cheapest standard single ticket that day” and “the cheapest standard single ticket for 4 adults- group tickets”
(–Large volume purchases likely to be more price sensitive (and cheaper to service)
Volume discounts
–Electricity companies would like to sell more power – but they need to reduce the price to do this
Step discounts maintain the high price for initial electricity purchases but above a certain level a price reduction takes effect)
(Product bundling
–For example, season tickets bundle several tickets, a cheaper overall price than buying individual tickets
•But the individual would not have attended so often without the season ticket
•Product unbundling
–Sometimes excellent service is given but no one notices, then it can be a good idea to charge for the extras, rather than “give them away”)
(5) Different seats
Use the data of “the cheapest standard single ticket that day” and “the cheapest first class single ticket that day”
3）Product（下面是一些老师的小提示，可作参考）
–Image pricing, premium pricing, complementary pricing
»Segmentation and product differentiation can be linked: value and premium versions (differentiation) appeal to different market segments
–Identification of different segments
•Optimisers,
•Price seekers,
•Brand conscious,#p#分页标题#e#
•Discount buyers,
•High price shoppers
–Could be the basis for a dissertation, might undertake interviews with a number of people (not too many) and decide which group they fall in for different products
三、legal restriction 和 price regulation
•Price regulation–A dissertation could track the practices of the regulators in, for example, the privatised water industry
（通过两个星期的数据收集，发现当日的火车票都不会浮动，会有固定最高票价，但提前买的票，则票价有波动，）
四、management accounting literature (cost-plus pricing)
•Cost-plus pricing
–There is standard literature in management accounting and surveys to check its prevalence. Also some theory which can be extended
以下是我们课题教授所给出的论文要求及提示，请重点参考！！
Many students focus on issues concerning market segmentation and price discrimination. This area provides a rich field for theoretical analysis and there are many examples of segmentation and price discrimination that can be used to provide empirical data.
If you wish to start thinking about your dissertation then it would be sensible to undertake some reading about pricing techniques in general.
The following books may be useful:
For general economic background:
Begg D. Fischer S. and Dornbusch (2003) Economics, 7th ed., McGraw-Hill Education
This is a standard economic text that includes basic supply and demand, market structures and introduction to price discrimination (pp 115 – 116 and pp 204-206). It is OK to include some basic economi c theory in your dissertation but keep it short.
There are many economic texts that would be suitable, for example:
Parkin M, Powell M and Matthews K. (2000) Economics, 4th ed., Pearson Education
This includes a good introduction to price discrimination (pp. 302-307) covering discrimination using quantity purchased and between individuals and groups,
For an easy introduction to pricing techniques
Nagle T. T. and Holden R. K. (2002) The Strategy and Tactics of Pricing, 3rd ed., Prentice Hall
This is a readable text that includes chapters on the impact of costs, customers and competition. Chapter 9 provides an introduction to segmentation of markets based on buyer, location, time of purchase, quantity, product differentiation and so on.
There are several editions of this book and, obviously, the more up to date the better. However, you will find any edition of the book useful.
For a comprehensive treatment of pricing theory
Landsburg S. E. (2002) Price Theory and Applications, 5th ed., South Western, division of Thomson Learning
This is a comprehensive economics textbook on pricing theory. It includes all the basic theory, supply, demand, types of competition etc. and a good section (pp. 354-371) on price discrimination. This covers the theory of the subject: first, second and third degree price discrimination, consumer surplus and the reason why the more price sensitive customers receive the lower prices. Landsburg provides examples and, usefully, discusses situations which appear to be price discriminating but actually might not be.
There are other books that concentrate on the economic theory of pricing and I think that Jack Hirschleifer’s book has exactly the same title as Landsburg’s and has been through several editions. I do not think it as easy to read as Landsburg.
For specialised treatment of pricing and revenue management
Phillips R. L. (2005) Pricing and Revenue Optimization, Stanford University Press
This is an excellent book that introduces the ideas of price discrimination (termed price differentiation in this book) and then moves on to revenue management. There is a useful chapter dealing with segmented pricing under constrained supply (limited capacity at an American football game and two customer segments: students and the general public). This book includes some history and thus provides useful background. Apparently a key stage in the development of revenue management theory was the deregulation of the US airline industry in 1978. PeopleExpress (a low cost airline) quickly gained market share and only by introducing price discrimination, charging different groups of customers different fares, and revenue management could American Airlines compete (and defeat) its rival.
Shy O. (2008) How to Price: A Guide to Pricing techniques and Yield Management, Cambridge University Press
This is a rather technical book (too technical for my taste) but it does cover the range of pricing situations very comprehensively. It includes chapters on bundling/tying, multipart tariffs, peak-load pricing, advance booking, refund strategies, overbooking and product differentiation (referred to as quality differentiation). Once you have decided on your topic you may find one or more chapters very useful.
History and classic texts
Many authors refer to Pigou (1920) The Economics of Welfare, Macmillan and Co. as originating the theory of price discrimination. Pigou referred to first, second and third degree price discrimination although his definitions are not totally clear and common usage has tended to use them in rather flexible ways. It is generally agreed that first degree price discrimination refers to charging each individual what they are prepared to pay. This would be perfect price discrimination (where the producer captures all consumer surplus). In modern texts second degree price discrimination is often taken to refer to quantity discrimination, although it is doubtful if this is what Pigou said. Third degree price discrimination usually is taken to refer to charging different prices to different groups for the same (or, importantly, similar) products.
Joan Robinson (1933) provided a comprehensive theoretical treatment of price discrimination in her book, The Economics of Imperfect Competition (St Martin’s Press). Robinson provides her own analysis of price discrimination together with a commentary on Pigou’s earlier work in Chapters 15 and 16 (pp.179-208)
Phlips L. (1983) The Economics of Price Discrimination, Cambridge University Press, provides a comprehensive theoretical analysis of price discrimination and those with an interest in theoretical treatments might find it interesting. In his introductory remarks Phlips (pp. 5-7)addresses the issue of defining price discrimination and this is well worth reading (even if you do not read the rest of the book). Phlips notes that the usual definition: sale of the same commodity to different customers at different prices, would be unduly restrictive and he therefore searches for a better definition. He concludes that price discrimination implies that two varieties of a commodity are sold to two buyers at different net prices.
Marketing and segmentation
There are many papers and texts that address issues of segmentation and I have noticed that a number of students have used Kotler’s text, Principles of Marketing, and I have been impressed by his analysis of different approaches to segmentation.
参考文献
Journals - examples
•Journal of Marketing
•Journal of Marketing Research
•Journal of Marketing Management
•Marketing Management
•European Journal of Marketing
•Journal of Revenue and Pricing Management
•Industrial Marketing Management
•Journal of Product and Brand Management
•Journal of Retailing
•Transportation Research
•Review of Industrial Organization
•Harvard Business Review (access via Business Source Complete)
•Long range Planning
•Journal of Industrial Economics
Books
•Nagle T. T. and Holden R. K. (2002) The Strategy and Tactics of Pricing 3rd edn., Prentice Hall, Upper Saddle River
•Landsburg S. E. (2002) Price Theory and Applications 5th edn., South-Western, Cincinnati
•Phillips R. L. (2005) Pricing and Revenue Optimizati
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