Consumer Preference for the Latest Technological Offering

2014 ◽  
pp. 93-107
Author(s):  
Derrick S. Boone Sr.
Keyword(s):  
Technological Change ◽  
Empirical Evidence ◽  
Consumer Preference ◽  
Future Generation ◽  
Technological Advance ◽  
Relative Advantage ◽  
High Tech ◽  
Purchase Decisions ◽  
Expectation Formation ◽  
Price Decline

Prior research has shown that when making high tech purchase decisions, consumers consider not only the relative advantage afforded by currently available products, but also the relative advantage expected from future generation products. Additionally, empirical evidence suggests that prices for high tech products often decline faster than the technology advances. This chapter takes both these findings into account and investigates the antecedents of expectation formation and how consumer purchase decisions for high- and low-tech products are impacted by asymmetrical rates of technological advance and price decline. Although consumers generally prefer the latest technological generation of a product, level of technological sophistication (high- vs. low-tech), rate of technological change and price decline, and expectations regarding future product introductions, based on familiarity with past product introductions, were found to moderate the effect of technological generation on preference.

Consumer Purchase Decisions Under Asymmetrical Rates of Technological Advance and Price Decline

2012 ◽  
Vol 3 (2) ◽  
pp. 20-30 ◽  
Author(s):  
Derrick S. Boone
Keyword(s):  
Technological Change ◽  
Empirical Evidence ◽  
Future Generation ◽  
Technological Advance ◽  
Relative Advantage ◽  
High Tech ◽  
Purchase Decisions ◽  
Product Level ◽  
Price Decline ◽  
Technology Advances

Prior research has shown that when making high tech purchase decisions, consumers consider not only the relative advantage afforded by currently available products, but also the relative advantage expected from future generation products. Additionally, empirical evidence suggests that prices for high tech products often decline faster than the technology advances. This research takes both these findings into account and investigates consumer purchase decisions for high and low tech products under asymmetrical rates of technological advance and price decline. Although consumers generally prefer the latest technological generation of a product, level of technological sophistication (high vs. low tech), rate of technological change and price decline, and expectations regarding future product introductions were found to moderate the effect of technological generation on preference.

Business Data Analytics Applications to Online Product Reviews and Nationalism

2021 ◽  
Vol 2 (2) ◽  
pp. 27-39
Author(s):  
Charles C. Willow
Keyword(s):  
Big Data ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Smart Phone ◽  
Consumer Preference ◽  
Online Reviews ◽  
Global Market ◽  
Product Reviews ◽  
Purchase Decisions ◽  
Control Factors

This paper investigates the data analytics between consumer purchase decisions relative to the on-line reviews. The multi-attributes associated with purchase decisions are comprised of nationalism and consumer preference to be correlated with online reviews using big data analytics. By far, a small fraction of meaningful studies have sought to correlate nationalism and ethnocentrism with big data analytics to date. Globally accepted generic products are selected to expedite the process of data engineering. Two sets were arranged: passenger automobiles for transportation with an estimated $9 trillion global market and the smart phone, boosting its market size of approximately $5 billion. Both products provide minimized cultural, linguistic, gender, age, and/or custom barriers of entry for prospective digital consumers, thereby allowing relatively unrestricted engagement with online reviews and purchases. A series of hypothesis tests indicate that there is a positive correlation between nationalism and automobiles. As to smart cell phones, however, nationalism had nominal control factors. Multi-variate analytics were performed by using R and Tableau Public.

Management of Technological Change and Quality in Ship Production

1992 ◽  
Vol 8 (02) ◽  
pp. 105-110
Author(s):  
Ernst G. Frankel
Keyword(s):  
Technological Change ◽  
Technological Advance ◽  
User Needs ◽  
Total Quality ◽  
Fair Price ◽  
Process Technology ◽  
Shipbuilding Industry ◽  
Step Procedure ◽  
Product And Process ◽  
And Performance

Ship production, like other manufacturing and assembly activities, must keep up with technology to assure achievement of required productivity, quality, and technological advance expected by an increasingly demanding marketplace. The ship market has not only become technologically sophisticated, but customers now no longer buy on price alone. They want quality in design, detailing, operability, maintainability, reliability, usability, all in addition to a fair price, reliable delivery schedule, and effective follow-on service. In other words, the shipbuilding industry is finally emerging as a market-conscious, responsive industry aware of user needs. To perform this newly rediscovered function, shipbuilding has to assure better management of technological change in both product and process technology and assure continuous total quality management from design and production to delivery and follow. Many shipbuilders are new at this because many assumed a seller's marketplace. In this paper, the management of technological change and quality in ship production is presented as a formal step-by-step procedure which should be undertaken at regular (quarterly or at least yearly) intervals to assure that the yard maintains its quality and performance in process and product terms.

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