Information symmetry, quality perception, and market dynamics

Purpose - The paper aims to study market dynamics in the backdrop of information symmetry and quality perception. The position of high quality products (HQPs) in the market is a focus of this analysis. Also, an attempt is made to unfold the prevailing parametric relationships in the market of develo...

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Bibliographic Details
Published in:Journal of modelling in management 2007-01, Vol.2 (3), p.208-231
Main Authors: Narendra Wankhade, Lalit, Dabade, B.M
Format: Article
Language:English
Subjects:
Asymmetry
Decision making
Information exchange
Information sharing
Manycountries
Market forces
Marketing
Perceptions
Quality
Studies
Symmetry
Total quality
Total quality management
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Summary:Purpose - The paper aims to study market dynamics in the backdrop of information symmetry and quality perception. The position of high quality products (HQPs) in the market is a focus of this analysis. Also, an attempt is made to unfold the prevailing parametric relationships in the market of developed and developing nations.Design methodology approach - Related literature is reviewed and investigation is attempted into market dynamics. System dynamics is used for preliminary modelling and analysis. Simulation runs are carried out to assess the impact of company reputation and advertising on market parameters.Findings - Behaviours of market parameters are unraveled. From using correlation analysis and analytic hierarchy approach, the policy measures to improve the HQP position in the market are revealed.Research limitations implications - The study of some aspects of market dynamics is attempted. Further, study and modelling are required to completely understand the market behaviour.Practical implications - The model has a practical relevance to implement quality perception enhancement by deciding on the policy mix.Originality value - This is a start for systems analysis of the market, which may offer a long-term foundation to market dynamics.
ISSN:1746-5664
1746-5672
DOI:10.1108/17465660710834435