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| Author: | Mesak, H. Berg, W. |
| Title: | Incorporating price and replacement purchases in new product diffusion models for consumer durables |
| Journal: | Decision Sciences
1995 : JUL/AUG, VOL. 26:4, p. 425-450 |
| Index terms: | PRICES NEW PRODUCTS DIFFUSION |
| Language: | eng |
| Abstract: | The article presents theoretical and empirical research findings which incorporate price and replacement purchases in new product diffusion models. On the theoretical side, this paper characterizes, qualitatively, optimum pricing policies for new products. Possible entry of rivals is not considered, but repeat sales, cost learning dynamics and discounting of future profit streams are allowed. Theoretical research findings suggest that the inclusion of repeat purchases in the diffusion model significantly changes the derived optimal pricing policy even if replacements were not price dependent. |
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