A two-generation new product model by considering forward-looking customers: Dynamic pricing and advertising optimization

Computer technology has become a very important element in an advanced manufacturing system. The good and systematic data model for the exchange of manufacturing information between different stages of development of product life cycle is paramount to ensure the product is manufactured and delivered to the market successfully. As a result, ISO 10303, an international standard, or well known as Standard for Exchange of Product Model Data (STEP) is not just for providing a neutral data format within the heterogenous CAD systems, its functionality has extended to the whole life cycle of product. STEP Part 21 is the first implementation method from EXPRESS modelling language and implemented successfully as neutral product data to integrate heterogeneous CAD platform. However, this CAD STEP Part21 text file is hardly to be applied in manufacturing processes since it consists of purely geometrical and topological data. In this research, a nonprocedural approach is presented to translate the EXPRESS language model of STEP CAD data into a new product database system model. A new nonprocedural approach of data enrichment and automated machining feature recognition is proposed and implemented on this newly developed product database system and provide a solution for the interrelated tasks of automated machining feature recognition: (1) extraction of geometrical feature from STEP CAD model data of the part (2) formation of part representation suitable for form feature identification (3) matching of form features. This paper proves the validity of this newly developed product database system by translating STEP Part21 file from a commercial CAD system to database system format, data enrichment, performing automated machining feature recognition and lastly generating STEP standard data according to AP224 for supporting STEP based process planning and manufacturing applications.

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Newprod: The Design and Implementation of a New Product Model

Journal of Marketing ◽

10.2307/1250798 ◽

1975 ◽

Vol 39 (1) ◽

pp. 16 ◽

Cited By ~ 13

Author(s):

Gert Assmus

Keyword(s):

New Product ◽

Product Model ◽

Design And Implementation

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Bounded Rationality in Pricing under State-Dependent Demand: Do Firms Look Ahead, and if So, How Far?

Journal of Marketing Research ◽

10.1509/jmkr.44.3.434 ◽

2007 ◽

Vol 44 (3) ◽

pp. 434-449 ◽

Cited By ~ 71

Author(s):

Hai Che ◽

K. Sudhir ◽

P.B. Seetharaman

Keyword(s):

Dynamic Pricing ◽

State Dependence ◽

Pricing Model ◽

Household Level ◽

Empirical Procedure ◽

State Dependent ◽

Look Ahead ◽

Pricing Behavior ◽

Dependent Demand ◽

Forward Looking

The authors propose an empirical procedure to investigate the pricing behavior of manufacturers and retailers in the presence of state-dependent demand. Rather than assuming that firms are perfectly forward looking and therefore solving accordingly for dynamic equilibriums that would arise in the presence of state dependence, the authors systematically evaluate whether boundedly rational firms indeed look ahead when they set prices and, if so, to what extent. They illustrate the procedure using household-level scanner-panel data on breakfast cereals and replicate the substantive results using data on ketchup. The authors find that (1) omission of state dependence in demand biases inference of firm behavior (i.e., tacit collusion is erroneously inferred when firms are competitive); (2) observed retail prices are consistent with a pricing model in which both manufacturers and retailers are forward looking (i.e., they incorporate the effects of their current prices on their future profits), but firms have short time horizons when setting prices (i.e., they look ahead by only one period, suggesting that firms are boundedly rational in their dynamic pricing behavior); and (3) even a myopic pricing model of firms that accounts for state dependence in demand is a reasonable approximation of the observed prices in the market.

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Balancing design freedom and brand recognition in the evolution of automotive brand styling

Design Science ◽

10.1017/dsj.2016.9 ◽

2016 ◽

Vol 2 ◽

Cited By ~ 11

Author(s):

Alexander Burnap ◽

Jeffrey Hartley ◽

Yanxin Pan ◽

Richard Gonzalez ◽

Panos Y. Papalambros

Keyword(s):

Web Application ◽

Three Dimensional ◽

Negative Relationship ◽

New Product ◽

Product Model ◽

Design Decisions ◽

Strategic Design ◽

Brand Recognition ◽

Strong Negative Relationship ◽

Design Freedom

Designers faced with the task of developing a new product model of a brand must balance several considerations. The design must be novel and express attributes important to the customers, while also recognizable as a representative of the brand. This balancing is left to the intuition of the designers, who must anticipate how customers will perceive the new design. Oftentimes, the design freedom used to meet a product attribute can compromise the recognition of the product as a member of the brand. In this paper, an experiment is conducted for measuring changes in ten styling attributes common to both design freedom and brand recognition for automotive designs from four brands, Audi, BMW, Cadillac, and Lexus, using customer responses to two- and three-dimensional vehicle designs created and presented interactively through a crowdsourced web application. Results show that while brand recognition is highly dependent on the manufacturer, two brands have strong negative relationship between design freedom and brand recognition, suggesting that these two manufacturers face a significant challenge when evolving their respective brand styling. This study is a first effort toward quantifying and predicting tradeoffs between design freedom and brand recognition, contributing to existing efforts that augment human intuition during strategic design decisions.

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