Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 이기천 | - |
dc.date.accessioned | 2018-03-21T07:45:36Z | - |
dc.date.available | 2018-03-21T07:45:36Z | - |
dc.date.issued | 2012-09 | - |
dc.identifier.citation | Technological forecasting social change, 2012, 79(7), P.1280-1291 | en_US |
dc.identifier.issn | 0040-1625 | - |
dc.identifier.uri | https://www.sciencedirect.com/science/article/pii/S0040162512000789?via%3Dihub | - |
dc.identifier.uri | http://hdl.handle.net/20.500.11754/50160 | - |
dc.description.abstract | Forecasting demand during the early stages of a product's life cycle is a difficult but essential task for the purposes of marketing and policymaking. This paper introduces a procedure to derive accurate forecasts for newly introduced products for which limited data are available. We begin with the assumption that the consumer reservation price is related to the timing with which the consumer adopts the product. The model is estimated using reservation price data derived through a consumer survey, and the forecast is updated with sales data as they become available using Bayes's rule. The proposed model's forecasting performance is compared with that of benchmark models (i.e., Bass model, logistic growth model, and a Bayesian model based on analogy) using 23 quarters' worth of data on South Korea's broadband Internet services market. The proposed model outperforms all benchmark models in both prelaunch and postlaunch forecasting tests, supporting the thesis that consumer reservation price can be used to forecast demand for a new product before or shortly after product launch. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Elsevier Science B.V., Amsterdam | en_US |
dc.subject | Forecasting | en_US |
dc.subject | Bayesian model | en_US |
dc.subject | Reservation price | en_US |
dc.subject | New products | en_US |
dc.title | Forecasting demand for a newly introduced product using reservation price data and Bayesian updating | en_US |
dc.type | Article | en_US |
dc.relation.no | 7 | - |
dc.relation.volume | 79 | - |
dc.identifier.doi | 10.1016/j.techfore.2012.04.003 | - |
dc.relation.page | 1280-1291 | - |
dc.relation.journal | TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE | - |
dc.contributor.googleauthor | Lee, Jongsu | - |
dc.contributor.googleauthor | Lee, Chul-Yong | - |
dc.contributor.googleauthor | Lee, Kichun Sky | - |
dc.relation.code | 2012209061 | - |
dc.sector.campus | S | - |
dc.sector.daehak | COLLEGE OF ENGINEERING[S] | - |
dc.sector.department | DEPARTMENT OF INDUSTRIAL ENGINEERING | - |
dc.identifier.pid | skylee | - |
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