Incorporating price and replacement purchases in new product diffusion models for consumer durables

Article Abstract:

Many theoretical and empirical studies have been conducted on new product diffusion models that consider price and replacement purchases. Findings of theoretical research show that incorporating repeat purchases in the models has a great influence on the obtained optimal pricing policy even if replacements were not price dependent. On the other hand, empirical research results demonstrate that diffusion is essentially an imitative process for product categories considered. Moreover, price is found to have an impact on first and replacement purchases, and unit production cost is shown to be a diminishing function of cumulative first purchases.

Research, Pricing, New products, Product introduction

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Evaluating consumer preferences for existing multiattribute products: a non-metric approach

Article Abstract:

A model that evaluates consumer preferences for multiattribute products is presented. The objective of the derived model is to estimate the distributions of the partial utilities for existing products across all respondents in the sample. The input requirements for the model are overall product rankings and product rankings within each attribute. Moreover, statistical inference is valid and the solution method is either linear or quadratic programming.

Analysis, Evaluation, Marketing research, Market research, Consumer behavior

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Consistency and accuracy in decision aids: experiments with four multiattribute systems

Article Abstract:

Multiattribute value theory and the analytic hierarchy process are just two of several multiattribute decision aids that have been developed to facilitate solutions to selection problems. A study of the theoretical perspectives behind these models shows their conclusions to be widely divergent from each other. Accuracy of information, feedback and the way information is elicited are shown to affect model results.

Multiple criteria decision making, Models

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