MARKET INTRODUCTION AND DIFFUSION OF NEW PRODUCTS: RECENT DEVELOPMENTS IN AGENT-BASED MODELING

Lea M. Wakolbinger (), Christian Stummer and Markus Günther ()
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Lea M. Wakolbinger: Faculty of Business, Economics and Statistics, University of Vienna, Brünner Str. 72, Vienna 1210, Austria
Markus Günther: Department of Business Administration and Economics, Bielefeld University, Universitätsstr. 25, Bielefeld 33615, Germany

International Journal of Innovation and Technology Management (IJITM), 2013, vol. 10, issue 05, 1-19

Abstract: Market introduction and diffusion of new products is complex and multifaceted since it involves spatially dispersed customers with individual preferences who may be exposed to a wide range of influences including word-of-mouth communication within a social network. During the past decade agent-based modeling approaches for simulating this process have become increasingly popular, because they not only capture the customers' behavior more realistically, but also allow for new insights for innovation management. The aim of this work is to provide an overview of recent developments, to discuss challenges, and to highlight promising directions for future research.

Keywords: New product market introduction; innovation diffusion; agent-based simulation (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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DOI: 10.1142/S0219877013400154

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