Abstract

The aim of the article. The aim of the article is the marketing research of the influence of macroeconomic factors on a weighted average price of wheat bread in a competitive market. The results of the analysis. In a competitive market pricing policy marketing of enterprise should be formed considering market conditions. The effectiveness of the marketing price policy depends on the reliability estimation of current and future trends of product price. In this regard, in the process of marketing research competitive market relevance becomes factor analysis of the product price. Marketing research of pricing factors in a competitive market wheat bread conducted in this paper. Market of wheat bread is a perfect competition market, because there are many manufacturers and sellers, for new competitors are no entry barriers and exit barriers to market, all have equal access to information. Wheat bread is non-exclusive essential goods, the price of which is not material and no one but the state. The author has done market research using correlation and regression analysis. Correlation and regression three factor model shows the effect of consumer price index, price index of industry and average employee’s salary for the price of one ton of wheat bread. The author grouped official monthly statistics for 2012-2014. Average price of wheat bread in Ukraine increased by 38,6% – from 3864 UAH per ton in January 2012 to 5357 UAH per ton in December 2014. The average annual growth rate of the price was 0,94%. The main result of economic and mathematical modeling is the impact factors on the outcome as a percentage. The consumer price index growth by 1% leads to a 3% increase in the price of one ton of wheat bread. The industrial producer price index growth by 1% leads to a 0,03% increase in the price of one ton of wheat bread. The average employee’s salary growth by 1% leads to a 0,7% increase in the price of one ton of wheat bread. It is proved that the price of wheat bread most affects the consumer price index. Conclusions and directions of further researches. Thus, in a competitive market wheat bread producers (sellers) do not affect the price of goods, so the market research took into account macroeconomic factors. The author proved that the consumer price index has most of all influenced on the average price of one ton of wheat bread in Ukraine. This is indicated by the coefficient of elasticity of price inflation for consumer goods, whose value most in comparison with others. The author has built a complex three-factor model of average price of wheat bread and will use it in further research to predict and develop ways to optimize pricing.  

Keywords: market research, price, price index, factor analysis, competitive market

JEL Classification: D41, L11, M31.

Cite as: Biloshkurska, N. (2015). Marketing research of pricing factors in a competitive market. Marketing and Management of Innovations, 1, 24-31. https://doi.org/10.21272/mmi.2015.1-02

This work is licensed under a Creative Commons Attribution 4.0 International License

References

1. Kadar, M.H., & DeProost, D. (1997). Back to the «basics» of marketing, pricing, and selling. Containerisation International. 1, 49-51 [in English].
2. Petruzzi, Nicholas C., & Dada, Maqbool (1999). Pricing and the newsvendor problem: a review with extensions. Operations Research, 47(2), 183-194 [in English].
3. Weng, Z. Kevin (1995). Modeling quantity discounts under general price-sensitive demand functions: Optimal policies and relationships. European Journal of Operational Research, 86(2), 300-314 [in English].
4. Illiashenko, S.M., & Baskakova, M.Yu. (2006). Marketynhovi doslidzhennia [Marketing researches]. Kyiv: Tsentr navchalnoi literatury [in Ukrainian].
5. Seredni tsiny vyrobnykiv za osnovnymy vydamy kharchovykh produktiv, napoiv u 2012 rotsi [Average producers’ prices for main articles of food, drinks in 2012]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2012/ct/scv/scv_12u.html [in Ukrainian].
6. Seredni tsiny vyrobnykiv za osnovnymy vydamy kharchovykh produktiv, napoiv u 2013 rotsi [Average producers’ prices for main articles of food, drinks in 2013]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2013/ct/scv/scv_13u.html.
7. Seredni tsiny vyrobnykiv za osnovnymy vydamy kharchovykh produktiv, napoiv u 2014 rotsi [Average producers’ prices for main articles of food, drinks in 2014]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2014/ct/scv/scv_14u.html.
8. Indeksy spozhyvchykh tsin u 1991-2014 rr. (do poperednoho misiatsia) [Consumer price indices in 1991-2014 (to previous mouth)]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2006/ct/cn_rik/isc/isc_u/isc_m_u_.htm.
9. Indeksy tsin vyrobnykiv promyslovoi produktsii u 1991-2014 rr. (do poperednoho misiatsia) [Industrial producer price indices in 1991-2014 (to previous month)]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2007/ct/cn_rik/icv/icv_u/icvpm_u_.html.
10. Serednia zarobitna plata za vydamy ekonomichnoi diialnosti za misiats u 2012 rotsi (v rozrakhunku na odnoho shtatnoho pratsivnyka, hrn) [The average salary of economic activity for a month in 2012 (per one staff member, hrn)]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2012/gdn/Zarp_ek_m/zpm2012_u.htm.
11. Serednia zarobitna plata za vydamy ekonomichnoi diialnosti za misiats u 2013 rotsi (v rozrakhunku na odnoho shtatnoho pratsivnyka, hrn.) [The average salary of economic activity for a month in 2013 (per one staff member, hrn)]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2013/gdn/Zarp_ek_m/zpm2013_u.htm.
12. Serednia zarobitna plata za vydamy ekonomichnoi diialnosti za misiats u 2014 rotsi (v rozrakhunku na odnoho shtatnoho pratsivnyka, hrn) [The average salary of economic activity for a month in 2014 (per one staff member, hrn)]. (n.d.). ukrstat.gov.ua. Retrieved from http://www.ukrstat.gov.ua/operativ/operativ2014/gdn/Zarp_ek_m/zpm2014_u.htm.