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A Model of Two-Sided Costly Communication for Building New Product Category Demand

机译:建立新产品类别需求的双向昂贵沟​​通模型

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When a firm introduces a radical innovation, consumers are unaware of the product's uses and benefits. Moreover, consumers are unsure of whether they even need the product. In this situation, we consider the role of marketing communication as generating consumers' need recognition and thus market demand for a novel product. In particular, we model marketing communication as a two-sided process that involves both firms' and consumers' costly efforts to transmit and assimilate a novel product concept. When the marketing communication takes on a two-sided process, we study a firm's different information disclosure strategies for its radical innovation. We find that sharing innovation, instead of extracting a higher rent by keeping the idea secret, can be optimal. A firm may benefit from the presence of a competitor and its communication effort. The innovator can share its innovation so that competitors can also benefit, which encourages rivals to enter the market. The presence of such competition guarantees a higher surplus for consumers, which can induce greater consumer effort in a two-sided communication process. Moreover, the increased consumer effort, in turn, prompts complementarity in the communication process and lessens the potential free-riding effect in communication between firms. Additionally, it encourages the rival firm to exert more effort, especially when the role of consumers becomes more important. Sharing innovation with a rival serves as a mechanism to induce more efforts in a two-sided communication process.
机译:当公司进行重大创新时,消费者不会意识到产品的用途和收益。而且,消费者不确定他们是否需要该产品。在这种情况下,我们认为营销传播的作用是引起消费者的需求认可,从而引起市场对新产品的需求。尤其是,我们将营销传播建模为一个双向过程,涉及公司和消费者为传播和吸收新产品概念付出的巨大努力。当市场营销交流采取双向过程时,我们将研究公司针对其根本创新的不同信息披露策略。我们发现共享创新,而不是通过保守想法来获取更高的租金,是最佳的。公司可能会从竞争对手的存在及其沟通努力中受益。创新者可以共享其创新,从而使竞争对手也可以从中受益,从而鼓励竞争对手进入市场。这种竞争的存在保证了消费者有更高的剩余量,这可以在双向通信过程中引起更大的消费者努力。而且,增加的消费者努力反过来促进了沟通过程中的互补性,并减少了公司之间沟通中潜在的搭便车效应。此外,它鼓励竞争对手采取更多的努力,特别是当消费者的角色变得越来越重要时。与竞争对手共享创新是一种在双向交流过程中引发更多努力的机制。

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