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Leveraging online customer reviews in new product development: a differential game approach
Annals of Operations Research ( IF 4.8 ) Pub Date : 2020-09-30 , DOI: 10.1007/s10479-020-03784-5
Wei Liu , Ke Xu , Ruirui Chai , Xiang Fang

Large volumes of online product reviews generated by customers have important strategic values for new product development. We consider a duopoly setting where two manufacturers aim to develop their own new products and services. Applying a differential game framework, we examine how online customer reviews can be leveraged as external knowledge for manufacturers to develop new products. In our base models, we assume that the products supplied by the manufacturers are homogenous. First, we consider a closed innovation setting as a benchmark case in which both manufacturers develop new products by their internal R&D without leveraging online customer reviews. Second, we propose a model in which one manufacturer leverages online customer reviews as external knowledge, while the other manufacturer only relies on internal R&D effort. We derive analytical equilibrium solutions to both models. We find that when one manufacturer uses online customer reviews, if the manufacturer’s R&D process becomes more effective in improving its new product performance or reducing its cost, it certainly hurts the other manufacturer, but it may sometimes hurt this particular manufacturer as well. Furthermore, we demonstrate that when the manufacturer utilizes online customer reviews more in R&D, both manufacturers’ profits can either increase or decrease. In an extended model, we relax the product homogeneity assumption and obtain the equilibrium solution analytically. We show that main managerial insights still hold in the extend model.



中文翻译:

在新产品开发中利用在线客户评论:差异化游戏方法

客户产生的大量在线产品评论对于新产品开发具有重要的战略价值。我们考虑采用双头垄断的环境,两家制造商旨在开发自己的新产品和服务。应用差异游戏框架,我们研究了如何利用在线客户评论作为制造商开发新产品的外部知识。在我们的基本模型中,我们假设制造商提供的产品是同质的。首先,我们将封闭式创新设置作为基准案例,在这两个案例中,两家制造商都通过内部研发来开发新产品,而不利用在线客户评论。其次,我们提出一种模型,其中一个制造商利用在线客户评论作为外部知识,而另一制造商仅依靠内部研发工作。我们导出两个模型的解析平衡解。我们发现,当一个制造商使用在线客户评论时,如果制造商的研发过程在提高其新产品性能或降低成本方面变得更加有效,那么无疑会损害另一制造商,但有时也会损害该特定制造商。此外,我们证明,当制造商在研发中更多地利用在线客户评论时,两家制造商的利润都会增加或减少。在扩展模型中,我们放宽了产品同质性假设,并通过分析获得了平衡解。我们表明,主要的管理洞察力仍保留在扩展模型中。D流程在改善其新产品性能或降低成本方面变得更加有效,它肯定会损害其他制造商,但有时也可能会损害该特定制造商。此外,我们证明,当制造商在研发中更多地利用在线客户评论时,两家制造商的利润都会增加或减少。在扩展模型中,我们放宽了产品同质性假设,并通过分析获得了平衡解。我们表明,主要的管理洞察力仍保留在扩展模型中。D流程在改善其新产品性能或降低成本方面变得更加有效,它肯定会损害其他制造商,但有时也可能会损害该特定制造商。此外,我们证明,当制造商在研发中更多地利用在线客户评论时,两家制造商的利润都会增加或减少。在扩展模型中,我们放宽了产品同质性假设,并通过分析获得了平衡解。我们表明,主要的管理洞察力仍保留在扩展模型中。两家制造商的利润都可以增加或减少。在扩展模型中,我们放宽了产品同质性假设,并通过分析获得了平衡解。我们表明,主要的管理洞察力仍保留在扩展模型中。两家制造商的利润都可以增加或减少。在扩展模型中,我们放宽了产品同质性假设,并通过分析获得了平衡解。我们表明,主要的管理洞察力仍保留在扩展模型中。

更新日期:2020-09-30
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