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  1. Play it Again, Sam?
    Product Differentiation and Success in the Music Industry
    Autor*in: Deshmane, Abhishek; Martínez-de-Albéniz, Victor
    Erschienen: 2022
    Verlag:  SSRN, [S.l.]

    Newly released music by a certain artist is never assessed in isolation by the audiences, who tend to compare it with the previous musical catalogue of the corresponding artist. Through a repeated interaction with the artist's music, the audiences... mehr

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    Newly released music by a certain artist is never assessed in isolation by the audiences, who tend to compare it with the previous musical catalogue of the corresponding artist. Through a repeated interaction with the artist's music, the audiences build their own expectations about the future releases which affect the overall market reception. In this paper, we provide a general framework that incorporates the dynamics of these references towards addressing the classical dilemma of incremental versus radical innovation. We develop a theory rooted in classical behavioral economics of reference-building, and consider preference structures of habit formation and satiation. We then empirically measure the response of audiences to different degrees of innovation in successive musical album releases, by using a multi-attribute musical description of songs, together with their corresponding radio plays and critics' reviews. We find that a median deviation of the musical attributes of the newly released album from the reference levels of the audiences reduces the plays of the newly released albums by 23.1%, while that of the past albums increase by 13.8%, supporting the evidence for the existence of habit formation over radio stations. On the other hand, critics display the effect of satiation with a median deviation from the reference levels resulting in an average increase of 14.9% in their ratings. Our counterfactual analyses demonstrate how these findings can be utilized to adopt appropriate innovation rates to tailor-make products that cater to the preference structures of target consumers

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: IESE Business School Working Paper
    Schlagworte: New Product Development; Incremental Vs. Radical Innovation; Reference Effects; Habit Formation; Satiation; Music; Cultural Operations
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (49 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 17, 2021 erstellt
  2. A causal model of the impact of the “fuzzy front end” on the success of new product development
    Autor*in: Herstatt, Cornelius; Verworn, Birgit
    Erschienen: 2000

    In a study of New Product Development (NPD) projects, the fuzzy front end of innovation is explored. The New Product Development process is a multistage process. Therefore, the study examines two sorts of impact that the fuzzy front end has on the... mehr

     

    In a study of New Product Development (NPD) projects, the fuzzy front end of innovation is explored. The New Product Development process is a multistage process. Therefore, the study examines two sorts of impact that the fuzzy front end has on the success of New Product Development: a direct impact and an indirect impact by influencing the next stage of the NPD process, i.e. project execution. Furthermore, the degree of newness of the NPD projects in accordance with the contingency theory, is considered. We develop and test a causal model of relationships among key variables related to the fuzzy front end, project execution, and success. The causal model is tested with AMOS using information from 144 completed projects from German measurement and control technique firms. For the most part, the responses from these firms support the hypothesized relationships. The frequently claimed importance of the fuzzy front end is confirmed. The results offer strong support for the importance of the early involvement of all functions in an NPD effort to enhance communication and ultimately project success. This can be advanced by a draft initial planning prior to development. Furthermore, the responses highlight the importance of reducing market and particularly technical uncertainty during the fuzzy front end, both of which have a negative influence on communication and increase deviations during project execution. The technical uncertainty that remains at the start of the project has a direct, negative influence on project efficiency and overall it has the most far reaching implications for the success of the project. With regard to contingency theory, the results indicate that effort spent on the reduction of uncertainty for improving project execution and project success may be influenced by the degree of newness. The degree of newness is found to influence the reduction of technical uncertainty, deviations from specifications, and efficiency. Overall, the results of this study support previous research regarding the ...

     
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    Quelle: BASE Fachausschnitt AVL
    Sprache: Englisch
    Medientyp: Bericht
    Format: Online
    DDC Klassifikation: 85.; Wirtschaft (330)
    Schlagworte: Produktentwicklung; Innovationsstrategie; New Product Development; fuzzy front end; Innovationsmanagement; Innovationsplanung; Unternehmen / Innovation
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    info:eu-repo/semantics/openAccess ; rightsstatements.org/vocab/InC/1.0/