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Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions

Adarsh Anand, Mohini Agarwal, Deepti Aggrawal, David Hughes, Parisa Maroufkhani, Yogesh Dwivedi

Environment, Development and Sustainability

Swansea University Authors: David Hughes, Yogesh Dwivedi

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DOI (Published version): 10.1007/s10668-022-02357-9

Abstract

Highly competitive markets have forced many organizations to come up with generational products. The relevance, appropriateness, added functionality, and sustainability are some of the potential reasons behind the launch of a new generation over the previous generation. The launch time of the new ge...

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Published in: Environment, Development and Sustainability
ISSN: 1387-585X 1573-2975
Published: Springer Science and Business Media LLC 2022
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URI: https://cronfa.swan.ac.uk/Record/cronfa59893
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spelling 2024-11-28T14:19:36.5805249 v2 59893 2022-04-20 Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions 7abaa0ecff88cdfd7a208d27a8b62173 David Hughes David Hughes true false d154596e71b99ad1285563c8fdd373d7 Yogesh Dwivedi Yogesh Dwivedi true false 2022-04-20 Highly competitive markets have forced many organizations to come up with generational products. The relevance, appropriateness, added functionality, and sustainability are some of the potential reasons behind the launch of a new generation over the previous generation. The launch time of the new generation is dependent on the performance of the existing generation in the market which can be measured based on the attributes viz. the adoption behavior of the customer and indicator of adoption rate. The introduction of a new generation greatly affects the market of the existing generation of the product and huge capital is ought to be invested in feature enhancement in the latest generation as compared to the existing version. Consequently, the investment made in production and marketing activities should be economical which significantly influences the launch time. Based on these attributes, the focus is on determining the launch time of the successive generation of the product. In this paper, three conflicting and contrasting attributes: customer adoption behavior, adoption rate indicator, and cost are proposed. The aim is to study and understand the impact of the trade-off for these attributes on the launch time of successive generations of the product. To examine the tradeoff between these attributes, multi-attribute utility theory has been used. The proposed decision approach is based on three different weighted combinations of the utility function in multi-attribute utility theory. Additionally, three different forms of utility functions viz, the weighted arithmetic, geometric and harmonic forms have been used in understanding their superiority over one another. For validation purposes, the case in which an organization launches successive generations of a durable product for which demand is characterized by an innovation diffusion process has been assessed. Journal Article Environment, Development and Sustainability 0 Springer Science and Business Media LLC 1387-585X 1573-2975 Cost function; Innovation difusion process; Customer adoption behavior; Speedy launch indicator; Weighted arithmetic, geometric and harmonic mean 28 4 2022 2022-04-28 10.1007/s10668-022-02357-9 COLLEGE NANME COLLEGE CODE Swansea University SU Library paid the OA fee (TA Institutional Deal) Swansea University 2024-11-28T14:19:36.5805249 2022-04-20T16:09:10.7962851 Faculty of Humanities and Social Sciences School of Management - Business Management Adarsh Anand 1 Mohini Agarwal 2 Deepti Aggrawal 3 David Hughes 4 Parisa Maroufkhani 5 Yogesh Dwivedi 6 59893__23986__326546f618a54156888f9584b66c2d9b.pdf 59893.pdf 2022-05-05T10:39:08.1627472 Output 1062731 application/pdf Version of Record true © The Author(s) 2022. This article is licensed under a Creative Commons Attribution 4.0 International License. true eng http://creativecommons.org/licenses/by/4.0/
title Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
spellingShingle Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
David Hughes
Yogesh Dwivedi
title_short Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
title_full Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
title_fullStr Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
title_full_unstemmed Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
title_sort Successive generation introduction time for high technological products: an analysis based on different multi-attribute utility functions
author_id_str_mv 7abaa0ecff88cdfd7a208d27a8b62173
d154596e71b99ad1285563c8fdd373d7
author_id_fullname_str_mv 7abaa0ecff88cdfd7a208d27a8b62173_***_David Hughes
d154596e71b99ad1285563c8fdd373d7_***_Yogesh Dwivedi
author David Hughes
Yogesh Dwivedi
author2 Adarsh Anand
Mohini Agarwal
Deepti Aggrawal
David Hughes
Parisa Maroufkhani
Yogesh Dwivedi
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publishDate 2022
institution Swansea University
issn 1387-585X
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publisher Springer Science and Business Media LLC
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hierarchy_top_title Faculty of Humanities and Social Sciences
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department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
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description Highly competitive markets have forced many organizations to come up with generational products. The relevance, appropriateness, added functionality, and sustainability are some of the potential reasons behind the launch of a new generation over the previous generation. The launch time of the new generation is dependent on the performance of the existing generation in the market which can be measured based on the attributes viz. the adoption behavior of the customer and indicator of adoption rate. The introduction of a new generation greatly affects the market of the existing generation of the product and huge capital is ought to be invested in feature enhancement in the latest generation as compared to the existing version. Consequently, the investment made in production and marketing activities should be economical which significantly influences the launch time. Based on these attributes, the focus is on determining the launch time of the successive generation of the product. In this paper, three conflicting and contrasting attributes: customer adoption behavior, adoption rate indicator, and cost are proposed. The aim is to study and understand the impact of the trade-off for these attributes on the launch time of successive generations of the product. To examine the tradeoff between these attributes, multi-attribute utility theory has been used. The proposed decision approach is based on three different weighted combinations of the utility function in multi-attribute utility theory. Additionally, three different forms of utility functions viz, the weighted arithmetic, geometric and harmonic forms have been used in understanding their superiority over one another. For validation purposes, the case in which an organization launches successive generations of a durable product for which demand is characterized by an innovation diffusion process has been assessed.
published_date 2022-04-28T14:19:22Z
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