Reference groups and product line decisions / Wilfred Amaldoss in Management science, Vol. 56 N° 4 (Avril 2010)  

Public ISBD [article]  inManagement science > Vol. 56 N° 4 (Avril 2010) . - pp. 621-644 Titre : Reference groups and product line decisions : An experimental investigation of limited editions and product proliferation Type de document : texte imprimé Auteurs : Wilfred Amaldoss, Auteur ; Sanjay Jain, Auteur Année de publication : 2010 Article en page(s) : pp. 621-644 Note générale : Management Langues : Anglais (eng) Mots-clés : Reference groups Product line Experimental economics Game theory Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Some luxury goods manufacturers offer limited editions of their products, whereas some others market multiple product lines. Researchers have found that reference groups shape consumer evaluations of these product categories. Yet little empirical research has examined how reference groups affect the product line decisions of firms. Indeed, in a field setting it is quite a challenge to isolate reference group effects from contextual effects and correlated effects. In this paper, we propose a parsimonious model that allows us to study how reference groups influence firm behavior and that lends itself to experimental analysis. With the aid of the model, we investigate the behavior of consumers in a laboratory setting where we can focus on the reference group effects after controlling for the contextual and correlated effects. The experimental results show that in the presence of strong reference group effects, limited editions and multiple products can help improve firms' profits. Furthermore, the trends in the purchase decisions of our participants point to the possibility that they are capable of introspecting close to two steps of thinking at the outset of the game and then learning through reinforcement mechanisms. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/4.toc [article] Reference groups and product line decisions : An experimental investigation of limited editions and product proliferation [texte imprimé] / Wilfred Amaldoss, Auteur ; Sanjay Jain, Auteur . - 2010 . - pp. 621-644. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 4 (Avril 2010) . - pp. 621-644 Mots-clés : Reference groups Product line Experimental economics Game theory Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Some luxury goods manufacturers offer limited editions of their products, whereas some others market multiple product lines. Researchers have found that reference groups shape consumer evaluations of these product categories. Yet little empirical research has examined how reference groups affect the product line decisions of firms. Indeed, in a field setting it is quite a challenge to isolate reference group effects from contextual effects and correlated effects. In this paper, we propose a parsimonious model that allows us to study how reference groups influence firm behavior and that lends itself to experimental analysis. With the aid of the model, we investigate the behavior of consumers in a laboratory setting where we can focus on the reference group effects after controlling for the contextual and correlated effects. The experimental results show that in the presence of strong reference group effects, limited editions and multiple products can help improve firms' profits. Furthermore, the trends in the purchase decisions of our participants point to the possibility that they are capable of introspecting close to two steps of thinking at the outset of the game and then learning through reinforcement mechanisms. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/4.toc

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