Quantitative Marketing and Economics 2006
نویسنده
چکیده
Product replacement plays a critical role in many high-tech durable goods markets. Since these markets frequently undergo both rapid improvements in quality and falling prices, the consumer's replacement decision is most often due to product obsolescence, as opposed to wear and tear. Despite its importance, this issue has received insufficient attention in the literature, especially from an empirical perspective. Managers in these industries know that consumers follow replacement cycles, but little is known about how and why these replacement cycles change over time. And recognizing that consumers do follow such cycles, how should managers alter their own strategies to take advantage of this?
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