search query: @author Oren, S. S. / total: 8
reference: 2 / 8
| Author: | Oren, S. S. Schwartz, R. G. |
| Title: | Diffusion of new products in risk-sensitive markets. (!Diffusion models) |
| Journal: | Journal of Forecasting
1988 : OCT-DEC, VOL. 7:4, p. 273-287 |
| Index terms: | MARKETING LOGISTICS NEW PRODUCTS DIFFUSION |
| Language: | eng |
| Abstract: | Diffusion of new products may be hampered by consumers' uncertainties about how they will perform. A decision-theoretic framework is developed for modelling the diffusion of such products. In this model consumers choose between a current and a new product so as to maximize expected utility. Consumers that risk-averse delay adoption, and change their prior uncertainties in a Bayesian fashion using information generated by early adopters. Certain assumptions about the consumer choice process and the market dynamics are discussed. The model can be generalized. Its applications for market forecasting, design of market trials etc. are described. |
SCIMA