- Tytuł:
- Impact of social interactions on demand curves for innovative products
- Autorzy:
-
Maciejowska, K.
Jędrzejewski, A.
Kowalska-Pyzalska, A.
Weron, R. - Powiązania:
- https://bibliotekanauki.pl/articles/1075443.pdf
- Data publikacji:
- 2016-05
- Wydawca:
- Polska Akademia Nauk. Instytut Fizyki PAN
- Tematy:
-
89.65.Gh
87.23.Ge - Opis:
- Empirical studies suggest that word-of-mouth strongly influences the innovation diffusion process and is responsible for the "S" shape of the adoption curve. However, it is not clear how word-of-mouth affects demand curves for innovative products and strategic decisions of producers. Using an agent-based model of innovation diffusion, which links consumer opinions with reservation prices, we show that a relatively strong word-of-mouth effect can lead to the creation of two separated price-quantity regimes, with a nonlinear transition between them. A small shift of the product's market price can result in a drastic change of the demanded quantity and, hence, the revenues of a firm. Using Monte Carlo simulations and mean-field treatment we demonstrate that word-of-mouth may have ambiguous consequences and should be taken into account when designing marketing strategies.
- Źródło:
-
Acta Physica Polonica A; 2016, 129, 5; 1045-1049
0587-4246
1898-794X - Pojawia się w:
- Acta Physica Polonica A
- Dostawca treści:
- Biblioteka Nauki
Artykuł