Crowdfunding Pricing Strategy of Innovative Products Considering Consumer Social Learning

DOI

10.2991/978-2-38476-062-6_40How to use a DOI?

Keywords

Crowdfunding; Pricing strategy; Social learning; Reference price

Abstract

Consumers are deliberate. When a product of unknown quality is launched on a crowdfunding platform, they may choose to postpone the purchase in order to observe the content of consumer reviews on the online platform, constantly update their beliefs about the product’s quality, and make a more rational purchase decision. In the meantime, the reference price of crowdfunded products has a significant impact on consumer purchasing decisions. In this paper, we consider consumers’ social learning behavior, develop a two-stage crowdfunding model with reference price influence, and investigate the optimal decision problem of crowdfunding promoters and consumers, providing theoretical references and managerial suggestions for crowdfunding promoters’ two-stage pricing decisions.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Rong Zhang
AU  - Weiguang Yang
PY  - 2023
DA  - 2023/07/11
TI  - Crowdfunding Pricing Strategy of Innovative Products Considering Consumer Social Learning
BT  - Proceedings of the 2023 2nd International Conference on Social Sciences and Humanities and Arts (SSHA 2023)
PB  - Atlantis Press
SP  - 322
EP  - 328
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-062-6_40
DO  - 10.2991/978-2-38476-062-6_40
ID  - Zhang2023
ER  -