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Article: A brand premium pricing model for digital music market
Title | A brand premium pricing model for digital music market |
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Authors | |
Keywords | Brand premium Music streaming Pricing Self-selection |
Issue Date | 2015 |
Publisher | International Association of Computer Science and Information Technology (IACSIT). The Journal's web site is located at http://www.ijtef.org/ |
Citation | The 2nd International Conference on Advances in Business and Economics (ICABE 2015), Los Angeles, CA., 11-12 April 2015. In International Journal of Trade, Economics and Finance, 2015, v. 6 n. 2, p. 117-124 How to Cite? |
Abstract | This paper proposes an alternative pricing scheme for the digital music market, where the musician's differentiated characteristics such as fame, popularity, and listener share — in the form of consumer's brand premium multiplier — is incorporated into the pricing decision by the record label. We consider consumers are differentiated by two types of characteristics: the brand premium multiplier towards the musician, and the general preference to music. We argue that in the co-existence of free music streaming, the retail price of a musical product should be allowed to vary in a manner that reflects the differences in market environment and the musician's characteristics. The results of the proposed model provide a toolkit for the recording industry to effectively price its products in a market that is constantly evolving. |
Description | IJTEF-Sponsored Conference. Successfully revised IJTEF-sponsored conference papers may appear in one issue. |
Persistent Identifier | http://hdl.handle.net/10722/211772 |
ISSN |
DC Field | Value | Language |
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dc.contributor.author | Ko, TH | - |
dc.contributor.author | Lau, HYK | - |
dc.date.accessioned | 2015-07-21T02:10:25Z | - |
dc.date.available | 2015-07-21T02:10:25Z | - |
dc.date.issued | 2015 | - |
dc.identifier.citation | The 2nd International Conference on Advances in Business and Economics (ICABE 2015), Los Angeles, CA., 11-12 April 2015. In International Journal of Trade, Economics and Finance, 2015, v. 6 n. 2, p. 117-124 | - |
dc.identifier.issn | 2010-023X | - |
dc.identifier.uri | http://hdl.handle.net/10722/211772 | - |
dc.description | IJTEF-Sponsored Conference. Successfully revised IJTEF-sponsored conference papers may appear in one issue. | - |
dc.description.abstract | This paper proposes an alternative pricing scheme for the digital music market, where the musician's differentiated characteristics such as fame, popularity, and listener share — in the form of consumer's brand premium multiplier — is incorporated into the pricing decision by the record label. We consider consumers are differentiated by two types of characteristics: the brand premium multiplier towards the musician, and the general preference to music. We argue that in the co-existence of free music streaming, the retail price of a musical product should be allowed to vary in a manner that reflects the differences in market environment and the musician's characteristics. The results of the proposed model provide a toolkit for the recording industry to effectively price its products in a market that is constantly evolving. | - |
dc.language | eng | - |
dc.publisher | International Association of Computer Science and Information Technology (IACSIT). The Journal's web site is located at http://www.ijtef.org/ | - |
dc.relation.ispartof | International Journal of Trade, Economics and Finance | - |
dc.subject | Brand premium | - |
dc.subject | Music streaming | - |
dc.subject | Pricing | - |
dc.subject | Self-selection | - |
dc.title | A brand premium pricing model for digital music market | - |
dc.type | Article | - |
dc.identifier.email | Lau, HYK: hyklau@hkucc.hku.hk | - |
dc.identifier.authority | Lau, HYK=rp00137 | - |
dc.description.nature | link_to_OA_fulltext | - |
dc.identifier.doi | 10.7763/IJTEF.2015.V6.454 | - |
dc.identifier.hkuros | 245530 | - |
dc.identifier.hkuros | 245808 | - |
dc.identifier.volume | 6 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 117 | - |
dc.identifier.epage | 124 | - |
dc.publisher.place | Singapore | - |
dc.identifier.issnl | 2010-023X | - |