Operations strategies with snobbish and strategic consumers
Operations strategies with snobbish and strategic consumers
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DOI：
10.1002/nav.21955
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发表时间：
2020-10
期刊：
影响因子：
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通讯作者：
C. Lee;T. Choi;T. Edwin Cheng
中科院分区：
文献类型：
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作者：
C. Lee;T. Choi;T. Edwin Cheng
研究一个奢侈品品牌制造商（本文中的“制造商”实际上也是“零售商”）的最优生产和定价策略，我们考虑以下情况。首先，消费者表现出一种追求声望（势利）的行为，重视产品的排他性。当更多的消费者拥有产品时，它们的效用就会降低。第二，消费者表现出前瞻性（战略性）行为。他们根据预测的产品可用性做出商店访问决策。第三，制造商的生产政策对消费者来说是不可观察的。在这些基本前提下，我们考虑了一个传统的报童库存系统，并在理性预期框架下分析得出了均衡生产和定价策略。然后，我们提出了两种改进策略，每一种都使用一个完善的渠道政策，引导游戏参与者达到一个比传统系统更好的均衡。首先，在有消费者退货的限量版策略下，公司使用消费者退货政策作为限量版策略的代理，旨在增加产品的排他性。第二，在产品线延伸策略下，企业以产品线延伸为手段，引导博弈参与者同时提高产品的可得性和排他性。最后，我们扩展了研究，将各种建模的变化和研究结果的鲁棒性。
Studying the optimal production and pricing strategies of a luxury brand manufacturer (in this paper, the “manufacturer” is in fact also the “retailer”), we consider the following situation. First, consumers exhibit a prestige‐seeking (snobbish) behavior that values product exclusivity. Their utility decreases as more consumers possess the product. Second, consumers show a forward‐looking (strategic) behavior. They make shop visit decisions based on predicted product availability. Third, the manufacturer's production policy is unobservable to consumers. Given these basic premises, we consider a traditional newsvendor inventory system and analytically derive the equilibrium production and pricing strategies within the rational expectation framework. We then propose two improvement strategies, each using a well‐established channel policy, to steer the game participants to reach a better equilibrium than the one for the traditional system. First, under the limited edition strategy with consumer returns, the firm uses the consumer return policy as a proxy for the limited edition strategy that aims to increase product exclusivity. Second, under the product line extension strategy, the firm applies product line extension as a means to guide the game participants to simultaneously increase product availability and product exclusivity. Finally, we extend the study by incorporating a variety of modeling variations and examine robustness of the research findings.