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Price elasticity dynamics over the adoption life cycle: an empirical study

Author: Parker, Philip M. INSEAD Area: MarketingIn: Journal of Marketing Research, vol. 29, aug. 1992 Language: EnglishDescription: p. 358-367.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: The role of elasticities in strategic pricing over the product lifecycle has received much attention in the marketing literature. The focus on first purchase, trial, or new product adoption is based on the managerial importance of targeting marketing efforts toward nonadopters; previous adopters may have regular repeat purchase behaviour or will be satisfied with having adopted the innovation one time, as might be the case for durable products. This research tests competing hypotheses concerning the time path of price elasticities over the product adoption lifecycle. Unlike previous empirical research, the study explores price elasticity dynamics in the context of new product diffusion. In order to control for primary demand effects, first purchase data collected for 19 durable goods are used to estimate 20 alternative diffusion specifications commonly suggested in the literature
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The role of elasticities in strategic pricing over the product lifecycle has received much attention in the marketing literature. The focus on first purchase, trial, or new product adoption is based on the managerial importance of targeting marketing efforts toward nonadopters; previous adopters may have regular repeat purchase behaviour or will be satisfied with having adopted the innovation one time, as might be the case for durable products. This research tests competing hypotheses concerning the time path of price elasticities over the product adoption lifecycle. Unlike previous empirical research, the study explores price elasticity dynamics in the context of new product diffusion. In order to control for primary demand effects, first purchase data collected for 19 durable goods are used to estimate 20 alternative diffusion specifications commonly suggested in the literature

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