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New Product Introduction with Consumer Learning

Huang, Y; (2016) New Product Introduction with Consumer Learning. Doctoral thesis , UCL (University College London).

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Abstract

To unveil the mystery in the failure of new products, this PhD dissertation examines the firms' optimal strategies in the process of selling new products under different market conditions, using game theoretical models and operations research techniques. The insights from the dissertation aim to help firms make better decisions in new product introduction. This dissertation addresses three important research questions in new product introduction with consumer learning. First, how an entrepreneurial firm should optimally allocate sales resources when entering a new market, considering that consumers may learn from peers and incumbents may react to retain consumers. Second, when facing new products, consumers are uncertain about their valuation and may delay their purchases to seek for more information from multiple sources (e.g. from the selling firm, third-parties and other consumers). This dissertation studies how such consumer behavior impacts the selling firm's profit, and how the firm should invest in providing information to facilitate consumer learning. Third, offering money-back guarantees is a common practice to encourage consumer to purchase the new product. This dissertation investigates how the asymmetric bargaining power between a wholesaler and two retailers in a supply chain influences the decision of the retailers to offer money-back guarantees in competition.

Type: Thesis (Doctoral)
Title: New Product Introduction with Consumer Learning
Event: UCL (University College London)
Language: English
URI: http://discovery.ucl.ac.uk/id/eprint/1493090
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