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Selling New Products Through Consumer Learning

Yoo, OS; Huang, Y; Gokpinar, B; Tang, CS; (2016) Selling New Products Through Consumer Learning. Presented at: INFORMS Annual meeting, Nashville, TN USA.

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Abstract

Due to uncertain valuation of a new product, consumers often seek to learn more about the product before making purchasing decisions. In general, consumers can learn from the firm directly, from making an individual effort to learn, or from other consumers indirectly (through social learning). In this paper, we present a unified framework of consumer learning in the context of rational and heterogeneous consumers. Our goal is to examine, from the firm's perspective, when and why (i) investing in firm-induced learning can be superior to variable pricing, (ii) subsidizing individual learning can be beneficial, and (iii) investing in social learning (e.g., online forums) can be harmful.

Type: Conference item (UNSPECIFIED)
Title: Selling New Products Through Consumer Learning
Event: INFORMS Annual meeting
Location: Nashville, TN USA
Dates: 13 November 2016 - 16 November 2016
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
URI: http://discovery.ucl.ac.uk/id/eprint/10038088
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