Crowdfunding Pricing Strategy of Innovative Products Considering Consumer Social Learning
- 10.2991/978-2-38476-062-6_40How to use a DOI?
- Crowdfunding; Pricing strategy; Social learning; Reference price
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.
- © 2023 The Author(s)
- Open Access
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Cite this article
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 -