IDEAS home Printed from https://ideas.repec.org/a/eee/joreco/v78y2024ics096969892300406x.html
   My bibliography  Save this article

Dissecting the visiting willingness of driving visitors facing a retail market's dual-pricing policy for parking

Author

Listed:
  • Zhuang, Zheng-Yun
  • Chung, Cheng-Kung

Abstract

This study explores the significant elements in driving visitors’ mind while their willingness to visit (WTV) is formed and affected by the dual-pricing policy announced by a retail market. The aim is to investigate the upper (maximally durable) and lower (minimally suggestible) bounds of the hourly parking fee rate (p) and the minimum spending in the marketplace required to receive an hour of free parking (s). Additionally, the perceived importance of p in relation to s (represented by z*) is examined, as both p and s have a “cost price†to visitors who drive and can impact their WTV. The proposed hybrid approach incorporates popular methods such as revealed/stated-preference survey, complete case study, multiple linear regression, simultaneous equation system, and several approaches for model verification. A truth-lossless questionnaire design is implemented to augment the sample, and several interesting findings are obtained from a shopping center empirically based on the survey results, e.g., z* has an approximate ratio of 4:1 in the cultural area investigated. Further insights and implications are justified in terms of transportation pricing, operations management, and consumer psychology. For instance, several market-segmentation strategies are suggested for managing certain consumer groups using either pricing measure or both, and the accurate parameters investigated, estimated or inferred also allow establishing a grounded WTV function for decision-making. These ensure the delivery of satisfactory and profitable parking services for the retail industry.

Suggested Citation

  • Zhuang, Zheng-Yun & Chung, Cheng-Kung, 2024. "Dissecting the visiting willingness of driving visitors facing a retail market's dual-pricing policy for parking," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:joreco:v:78:y:2024:i:c:s096969892300406x
    DOI: 10.1016/j.jretconser.2023.103655
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S096969892300406X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jretconser.2023.103655?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Cinzia Colapinto & Raja Jayaraman & Simone Marsiglio, 2017. "Multi-criteria decision analysis with goal programming in engineering, management and social sciences: a state-of-the art review," Annals of Operations Research, Springer, vol. 251(1), pages 7-40, April.
    2. Lin, XuXun & Yuan, PengCheng, 2018. "A dynamic parking charge optimal control model under perspective of commuters’ evolutionary game behavior," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 490(C), pages 1096-1110.
    3. Klaus, Phil & Kuppelwieser, Volker G. & Heinonen, Kristina, 2023. "Quantifying the influence of customer experience on consumer share-of-category," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    4. Caspar Kaiser & Andrew J. Oswald, 2022. "The scientific value of numerical measures of human feelings," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 119(42), pages 2210412119-, October.
    5. Ibeas, A. & dell’Olio, L. & Bordagaray, M. & Ortúzar, J. de D., 2014. "Modelling parking choices considering user heterogeneity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 41-49.
    6. Zhang, J. & Meng, M. & Wang, David, Z.W., 2019. "A dynamic pricing scheme with negative prices in dockless bike sharing systems," Transportation Research Part B: Methodological, Elsevier, vol. 127(C), pages 201-224.
    7. Zhang, Qiao & Zaccour, Georges & Zhang, Jianxiong & Tang, Wansheng, 2020. "Strategic pricing under quality signaling and imitation behaviors in supply chains," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 142(C).
    8. Zielke, Stephan & Komor, Marcin & Schlößer, Andrea, 2023. "Coping strategies and intended change of shopping habits after the Corona pandemic – Insights from two countries in Western and Eastern Europe," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    9. Elias Soukiazis, Sara Proenca, and Pedro A. Cerqueira, 2019. "The Interconnections between Renewable Energy, Economic Development and Environmental Pollution: A Simultaneous Equation System Approach," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
    10. Kayal, Ghadeer G. & Simintiras, Antonis C. & Rana, Nripendra P., 2017. "Investigating gender differences in consumers’ experience of guilt: A comparative study," Journal of Retailing and Consumer Services, Elsevier, vol. 39(C), pages 71-78.
    11. Pantano, Eleonora & Viassone, Milena & Boardman, Rosy & Dennis, Charles, 2022. "Inclusive or exclusive? Investigating how retail technology can reduce old consumers’ barriers to shopping," Journal of Retailing and Consumer Services, Elsevier, vol. 68(C).
    12. Wang, Hao & Li, Ruimin & Wang, Xiaokun (Cara) & Shang, Pan, 2020. "Effect of on-street parking pricing policies on parking characteristics: A case study of Nanning," Transportation Research Part A: Policy and Practice, Elsevier, vol. 137(C), pages 65-78.
    13. Jahanifar, Komeil & Amirnejad, Hamid & Mojaverian, Seyed Mojtaba & Azadi, Hossein, 2020. "Land use change drivers in the Hyrcanian Vegetation Area: Dynamic simultaneous equations system with panel data approach," Land Use Policy, Elsevier, vol. 99(C).
    14. Thi My Thanh Truong & Hai-Bang Ly & Dongwoo Lee & Binh Thai Pham & Sybil Derrible, 2021. "Analyzing travel behavior in Hanoi using Support Vector Machine," Transportation Planning and Technology, Taylor & Francis Journals, vol. 44(8), pages 843-859, November.
    15. Zheng-Yun Zhuang & Chi-Kit Ho & Paul Juinn Bing Tan & Jia-Ming Ying & Jin-Hua Chen, 2020. "The Optimal Setting of A/B Exam Papers without Item Pools: A Hybrid Approach of IRT and BGP," Mathematics, MDPI, vol. 8(8), pages 1-29, August.
    16. Czerny, Achim I. & Zhang, Anming, 2014. "Airport congestion pricing when airlines price discriminate," Transportation Research Part B: Methodological, Elsevier, vol. 65(C), pages 77-89.
    17. Caspar Kaiser & Andrew J. Oswald, 2022. "The scientific value of numerical measures of human feelings," Decision Analysis, INFORMS, vol. 119(42), pages 2210412119-, October.
    18. Caicedo, Felix & Diaz, Alejandra, 2013. "Case analysis of simultaneous concessions of parking meters and underground parking facilities," Transportation Research Part A: Policy and Practice, Elsevier, vol. 49(C), pages 358-378.
    19. Percoco, Marco, 2014. "The impact of road pricing on housing prices: Preliminary evidence from Milan," Transportation Research Part A: Policy and Practice, Elsevier, vol. 67(C), pages 188-194.
    20. Wei, Sheng & Huo, Hong & Xu, Ming & Kadirov, Djavlonbek & Fam, Kim-Shyan, 2021. "Shop-hop till you drop! The effect of the image gap on spillover patronage within retail agglomerations," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    21. Aouni, Belaid & Colapinto, Cinzia & La Torre, Davide, 2014. "Financial portfolio management through the goal programming model: Current state-of-the-art," European Journal of Operational Research, Elsevier, vol. 234(2), pages 536-545.
    22. A. Charnes & W. W. Cooper, 1957. "Management Models and Industrial Applications of Linear Programming," Management Science, INFORMS, vol. 4(1), pages 38-91, October.
    23. Lansley, Guy & Longley, Paul, 2016. "Deriving age and gender from forenames for consumer analytics," Journal of Retailing and Consumer Services, Elsevier, vol. 30(C), pages 271-278.
    24. Heckman, James J, 1978. "Dummy Endogenous Variables in a Simultaneous Equation System," Econometrica, Econometric Society, vol. 46(4), pages 931-959, July.
    25. Qian, Zhen (Sean) & Xiao, Feng (Evan) & Zhang, H.M., 2011. "The economics of parking provision for the morning commute," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(9), pages 861-879, November.
    26. Vannucci, Virginia & Dasmi, Costanza & Nechaeva, Olga & Pizzi, Gabriele & Aiello, Gaetano, 2023. "WHY do YOU care about me? The impact of retailers’ customer care activities on customer orientation perceptions and store patronage intentions," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    27. Ferreira, João-Pedro & Barata, Eduardo & Ramos, Pedro Nogueira & Cruz, Luis, 2014. "Economic, social, energy and environmental assessment of inter-municipality commuting: The case of Portugal," Energy Policy, Elsevier, vol. 66(C), pages 411-418.
    28. Holguín-Veras, José & Allen, Brandon, 2013. "Time of day pricing and its multi-dimensional impacts: A stated preference analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 55(C), pages 12-26.
    29. Shoup, Donald, 2021. "Pricing curb parking," Transportation Research Part A: Policy and Practice, Elsevier, vol. 154(C), pages 399-412.
    30. Ladeira, Wagner & Rasul, Tareq & Perin, Marcelo Gattermann & Santini, Fernando, 2023. "The bright side of disorganization: When surprise generates low-price signals," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    31. Lin, Zhibing, 2016. "Price promotion with reference price effects in supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 85(C), pages 52-68.
    32. Darley, William K. & Luethge, Denise J., 2019. "Service value and retention: Does gender matter?," Journal of Retailing and Consumer Services, Elsevier, vol. 48(C), pages 178-185.
    33. Xiao, Haohan & Xu, Meng & Yang, Hai, 2020. "Pricing strategies for shared parking management with double auction approach: Differential price vs. uniform price," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 136(C).
    34. Babin, Barry J. & Zhuang, Weiling & Borges, Adilson, 2021. "Managing service recovery experience: Effects of the forgiveness for older consumers," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    35. Rodriguez Uria, M. Victoria & Caballero, Rafael & Ruiz, Francisco & Romero, Carlos, 2002. "Meta-goal programming," European Journal of Operational Research, Elsevier, vol. 136(2), pages 422-429, January.
    36. Longquan Yong, 2014. "Novel Global Harmony Search Algorithm for Least Absolute Deviation," Journal of Applied Mathematics, Hindawi, vol. 2014, pages 1-6, July.
    37. Singh, Neeraj & Kumar, Niraj & Kapoor, Sanjeev, 2022. "Consumer multihoming predisposition on food platforms: Does gender matter?," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    38. Lee, Myounggu & Cho, Jihoon & Kim, Youngju & Kim, Hye-Jin, 2023. "Impact of movie-watching on cross-selling revenue in shopping malls: Implications for post-pandemic recovery," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    39. Phua, Peilin & Kennedy, Rachel & Trinh, Giang & Page, Bill & Hartnett, Nicole, 2020. "Examining older consumers’ loyalty towards older brands in grocery retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    40. Chang, Ching-Ter & Chung, Cheng-Kung & Sheu, Jiuh-Biing & Zhuang, Zheng-Yun & Chen, Huang-Mu, 2014. "The optimal dual-pricing policy of mall parking service," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 223-243.
    41. Chen, Anthony & Choi, Keechoo, 2017. "Solving the combined modal split and traffic assignment problem with two types of transit impedance functionAuthor-Name: Ryu, Seungkyu," European Journal of Operational Research, Elsevier, vol. 257(3), pages 870-880.
    42. Romero, Carlos, 2004. "A general structure of achievement function for a goal programming model," European Journal of Operational Research, Elsevier, vol. 153(3), pages 675-686, March.
    43. Zahid Amin Malik & Rakesh Kumar & Govind Pathak, 2022. "Application of goal programming in the textile apparel industry to resolve production planning problems a meta-goal programming technique using weights," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 32(2), pages 74-88.
    44. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
    45. Ahmadi Azari, Kian & Arintono, Sulistyo & Hamid, Hussain & Rahmat, Riza Atiq O.K., 2013. "Modelling demand under parking and cordon pricing policy," Transport Policy, Elsevier, vol. 25(C), pages 1-9.
    46. Priporas, Constantinos Vasilios & Vellore Nagarajan, Durga & Kamenidou, Irene (Eirini), 2023. "A technology-people-integrated toolkit for retail care management during a crisis," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    47. Quach, Sara & Jebarajakirthy, Charles & Thaichon, Park, 2017. "Aesthetic labor and visible diversity: The role in retailing service encounters," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 34-43.
    48. Daniel Wang & Michael Conerly, 2008. "Evaluating the power of Minitab's data subsetting lack of fit test in multiple linear regression," Journal of Applied Statistics, Taylor & Francis Journals, vol. 35(1), pages 115-124.
    49. Zhang, Rong & Zhu, Lichao, 2016. "Curbside parking pricing in a city centre using a threshold," Transport Policy, Elsevier, vol. 52(C), pages 16-27.
    50. Davis, Robert & Smith, Sandra D. & Lang, Bodo U., 2017. "A comparison of online and offline gender and goal directed shopping online," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 118-125.
    51. Tsai, Jyh-Fa & Chu, Chih-Peng, 2006. "Economic analysis of collecting parking fees by a private firm," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(8), pages 690-697, October.
    52. Tamiz, Mehrdad & Jones, Dylan & Romero, Carlos, 1998. "Goal programming for decision making: An overview of the current state-of-the-art," European Journal of Operational Research, Elsevier, vol. 111(3), pages 569-581, December.
    53. Budak, Aysenur & Ustundag, Alp & Guloglu, Bulent, 2017. "A forecasting approach for truckload spot market pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 55-68.
    54. Castillo-Manzano, José I. & López-Valpuesta, Lourdes & Sánchez-Braza, Antonio, 2018. "When the mall is in the airport: Measuring the effect of the airport mall on passengers’ consumer behavior," Journal of Air Transport Management, Elsevier, vol. 72(C), pages 32-38.
    55. Najmi, Ali & Bostanara, Maryam & Gu, Ziyuan & Rashidi, Taha H., 2021. "On-street parking management and pricing policies: An evaluation from a system enhancement perspective," Transportation Research Part A: Policy and Practice, Elsevier, vol. 146(C), pages 128-151.
    56. Romero, Carlos, 2001. "Extended lexicographic goal programming: a unifying approach," Omega, Elsevier, vol. 29(1), pages 63-71, February.
    57. Nourinejad, Mehdi & Roorda, Matthew J., 2017. "Impact of hourly parking pricing on travel demand," Transportation Research Part A: Policy and Practice, Elsevier, vol. 98(C), pages 28-45.
    58. Grimmer, Louise, 2021. "Drivers and barriers for city shopping: Perspectives from retailers and consumers in regional Australia," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).
    59. Bonsall, Peter & Shires, Jeremy & Maule, John & Matthews, Bryan & Beale, Jo, 2007. "Responses to complex pricing signals: Theory, evidence and implications for road pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(7), pages 672-683, August.
    60. Chang, Ching-Ter, 2007. "Multi-choice goal programming," Omega, Elsevier, vol. 35(4), pages 389-396, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chang, Ching-Ter & Chung, Cheng-Kung & Sheu, Jiuh-Biing & Zhuang, Zheng-Yun & Chen, Huang-Mu, 2014. "The optimal dual-pricing policy of mall parking service," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 223-243.
    2. Najmi, Ali & Bostanara, Maryam & Gu, Ziyuan & Rashidi, Taha H., 2021. "On-street parking management and pricing policies: An evaluation from a system enhancement perspective," Transportation Research Part A: Policy and Practice, Elsevier, vol. 146(C), pages 128-151.
    3. Hocine, Amine, 2018. "Meta goal programing approach for solving multi-criteria de Novo programing problemAuthor-Name: Zhuang, Zheng-Yun," European Journal of Operational Research, Elsevier, vol. 265(1), pages 228-238.
    4. Zheng-Yun Zhuang & Chi-Kit Ho & Paul Juinn Bing Tan & Jia-Ming Ying & Jin-Hua Chen, 2020. "The Optimal Setting of A/B Exam Papers without Item Pools: A Hybrid Approach of IRT and BGP," Mathematics, MDPI, vol. 8(8), pages 1-29, August.
    5. Chang, Ching-Ter, 2011. "Multi-choice goal programming with utility functions," European Journal of Operational Research, Elsevier, vol. 215(2), pages 439-445, December.
    6. Hocine, Amin & Zhuang, Zheng-Yun & Kouaissah, Noureddine & Li, Der-Chiang, 2020. "Weighted-additive fuzzy multi-choice goal programming (WA-FMCGP) for supporting renewable energy site selection decisions," European Journal of Operational Research, Elsevier, vol. 285(2), pages 642-654.
    7. Bilbao-Terol, Amelia & Arenas-Parra, Mar & Cañal-Fernández, Verónica, 2016. "A model based on Copula Theory for sustainable and social responsible investments," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(1), pages 55-76.
    8. Şeyda Gür & Tamer Eren, 2018. "Scheduling and Planning in Service Systems with Goal Programming: Literature Review," Mathematics, MDPI, vol. 6(11), pages 1-16, November.
    9. Fernando García & Francisco Guijarro & Javier Oliver, 2021. "A Multicriteria Goal Programming Model for Ranking Universities," Mathematics, MDPI, vol. 9(5), pages 1-17, February.
    10. Sankar Kumar Roy & Gurupada Maity & Gerhard Wilhelm Weber & Sirma Zeynep Alparslan Gök, 2017. "Conic scalarization approach to solve multi-choice multi-objective transportation problem with interval goal," Annals of Operations Research, Springer, vol. 253(1), pages 599-620, June.
    11. Zheng, Xiao-Xue & Chang, Ching-Ter, 2021. "Topology design of remote patient monitoring system concerning qualitative and quantitative issues," Omega, Elsevier, vol. 98(C).
    12. Jones, Dylan & Jimenez, Mariano, 2013. "Incorporating additional meta-objectives into the extended lexicographic goal programming framework," European Journal of Operational Research, Elsevier, vol. 227(2), pages 343-349.
    13. Peiyu Zhang & Yankui Liu & Guoqing Yang & Guoqing Zhang, 2022. "A multi-objective distributionally robust model for sustainable last mile relief network design problem," Annals of Operations Research, Springer, vol. 309(2), pages 689-730, February.
    14. Chang, Ching-Ter, 2007. "Multi-choice goal programming," Omega, Elsevier, vol. 35(4), pages 389-396, August.
    15. Tian, Qiong & Yang, Li & Wang, Chenlan & Huang, Hai-Jun, 2018. "Dynamic pricing for reservation-based parking system: A revenue management method," Transport Policy, Elsevier, vol. 71(C), pages 36-44.
    16. Chang, Ching-Ter, 2007. "Binary fuzzy goal programming," European Journal of Operational Research, Elsevier, vol. 180(1), pages 29-37, July.
    17. Dave, Sanjaykumar M. & Joshi, Gaurang J. & Ravinder, Kayitha & Gore, Ninad, 2019. "Data monitoring for the assessment of on-street parking demand in CBD areas of developing countries," Transportation Research Part A: Policy and Practice, Elsevier, vol. 126(C), pages 152-171.
    18. Belaid Aouni & Sheila McGillis & Mustafa Elkasih Abdulkarim, 2017. "Goal programming model for management accounting and auditing: a new typology," Annals of Operations Research, Springer, vol. 251(1), pages 41-54, April.
    19. Coshall, John T. & Charlesworth, Richard, 2011. "A management orientated approach to combination forecasting of tourism demand," Tourism Management, Elsevier, vol. 32(4), pages 759-769.
    20. Jun Li & Sifan Wu & Xiaoman Feng, 2021. "Optimization of On-Street Parking Charges Based on Price Elasticity of the Expected Perceived Parking Cost," Sustainability, MDPI, vol. 13(10), pages 1-13, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joreco:v:78:y:2024:i:c:s096969892300406x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-retailing-and-consumer-services .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.