This study aims to contribute to marketing theory by applying monopolistic competition theory to investigate how differentiation affects online retailers’ pricing power. We examine the intermediary effect of customer loyalty on the relationship between differentiation and pricing power of online retailers. We assume that customers have different preferences for the differentiated characteristics of online retailers, and thus different degrees of willingness to pay premiums, which gives online retailers pricing power. Structural equation modeling (SEM) is employed to test the hypothesized relationships between differentiation, customer loyalty, and pricing power. The statistical results of the empirical data indicate that some of the differentiation characteristics of online retailers can cultivate their pricing power indirectly. Logistics quality followed by commodity assortment and transaction security produces profound effects on the buildup of pricing power with customer loyalty as an intermediary factor. Results further reveal that commodity quality is positively related to pricing power. This study expands the definition of differentiation by combining corporate strategic positioning with commodity pricing. Implications for practice and directions for future research are provided.

中文翻译：

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在线零售商的差异化和定价能力

本研究旨在通过应用垄断竞争理论来研究差异化如何影响在线零售商的定价能力，从而为营销理论做出贡献。我们研究了客户忠诚度对在线零售商差异化和定价能力之间关系的中介效应。我们假设客户对在线零售商的差异化特征有不同的偏好，从而有不同程度的溢价支付意愿，这赋予了在线零售商定价权。采用结构方程模型 (SEM) 来测试差异化、客户忠诚度和定价能力之间的假设关系。实证数据的统计结果表明，网络零售商的一些差异化特征可以间接培养其定价能力。物流质量、商品分类和交易安全对以客户忠诚度为中介因素的定价能力的建立产生深远的影响。结果进一步表明，商品质量与定价能力呈正相关。本研究通过将企业战略定位与商品定价相结合，扩展了差异化的定义。提供了实践的意义和未来研究的方向。