Learning Consumer Tastes Through Dynamic Assortments
نویسندگان
چکیده
منابع مشابه
Learning Consumer Tastes Through Dynamic Assortments
How should a firm modify its product assortment over time when learning about consumer tastes? In this paper, we study dynamic assortment decisions in a horizontally differentiated product category for which consumers’ diverse tastes can be represented as locations on a Hotelling line. We presume that the firm knows all possible consumer locations, comprising a finite set, but does not know the...
متن کاملDynamic Price Competition with Persistent Consumer Tastes
The dynamic price competition in a horizontally differentiated duopoly when consumers value previous market shares is analyzed. The conditions for the existence of stable Markov-Perfect Equilibrium(MPE) in linear strategies are established. When they exist, the optimal pricing policies suggest that a firm with a higher previous market share charges a higher price, all else equal. It is possible...
متن کاملConsumer Choice Among Product Assortments in Virtual QR Code Stores
Virtual QR Code Stores are currently expanding globally and it is commonplace in the market to put emphasis on purely hedonic product assortments. This practice reflects the widespread assumption that hedonic products should be more effective to stimulate purchases because they facilitate impulse buying behavior. Contrary to this argumentation, the results of our study demonstrate that purchasi...
متن کاملOptimal and Competitive Assortments with Endogenous Pricing Under Hierarchical Consumer Choice Models
T paper studies assortment planning and pricing for a product category with heterogeneous product types from two brands. We model consumer choice using the nested multinomial logit framework with two different hierarchical structures: a brand-primary model in which consumers choose a brand first, then a product type in the chosen brand, and a type-primary model in which consumers choose a produ...
متن کاملDynamic Assortment with Demand Learning for Seasonal Consumer Goods
C such as Zara and World Co. have recently implemented novel product development processes and supply chain architectures enabling them to make more product design and assortment decisions during the selling season, when actual demand information becomes available. How should such retail firms modify their product assortment over time in order to maximize overall profits for a given selling sea...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Operations Research
سال: 2012
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.1120.1067