Newly released music by a certain artist is never assessed in isolation by the audiences, who tend to compare it with the previous musical catalogue of the corresponding artist. Through a repeated interaction with the artist's music, the audiences build their own expectations about the future...

We study a monopolistic firm which introduces two product versions sequentially in two periods. We analyze and compare the firm's decisions on the innovation level of the new version, the production quantities and prices of both versions, and the associated profit in four settings: when the...

The extremely high costs associated with the commercial failure of a new product, stresses the importance of a model that will effectively forecast the market penetration of a product at the design stage. The purpose of our study is to discover heuristics that will better explain market share,...

Integrating the customer in the innovation process is believed to be a powerful means to reduce failure rates and to increase the revenue from new products. Although many companies have launched programs to enable such integration, the understanding of the mechanisms behind successful programs...

We analyze firms' investment in product innovation when there are heterogeneous consumer switching costs in markets with an industry leader. We show that higher switching costs require a successful entrant to charge a higher price and increase investment in product innovation to remain...

This paper summarises some of the content and conclusions of a new book which discusses the innovation, design and evolution of six consumer products – bicycles, washing machines, vacuum cleaners, electric lamps, television and mobile (cell) phones – from their original inventions to the...

Product innovation, a decisive factor in modern economies, is usually analyzed from one point of view - that of the producers. A more realistic approach to the subject would add at least four dimensions to a consideration of the topic: the perspective of consumers and the cultural context within...

Netnography i.e. the systematic observation and analysis of online communities to generate insights for an innovation process, has been established as a method of user innovation in consumer goods industries. In this study we apply this technique for the first time in the context of a complex,...