Strategic management of new products: ex-ante simulation and market segmentation

Among various methodologies for demand forecasting of new products, the random-coefficient discrete-choice model using stated preference data is considered to be effective because it reflects heterogeneity in consumer preference and enables the design of experiments in the absence of revealed-preference data.

Strategic management of new products: ex-ante simulation and market segmentation

Jae Young Choi

Korea Institute for Industrial Economics & Trade (KIET)

Jungwoo Shin and Jongsu Lee

Seoul National University

Introduction

Recent developments in the field of information technology (hereafter, IT) have brought rapid transformations in traditional industries, creating significant gains for businesses and consumers. This shift has led to a variety of new services and products appearing in the multimedia and financial industries. Despite their positive prospects as new growth industries, there are concerns that they might not be successful, as illustrated by the cases of iridium satellite...

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