Integrated Technology and Product Design Decisions With Market-Based Learning
Lucas, Marilyn Therese
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https://hdl.handle.net/2142/84592
Description
Title
Integrated Technology and Product Design Decisions With Market-Based Learning
Author(s)
Lucas, Marilyn Therese
Issue Date
1997
Doctoral Committee Chair(s)
Monahan, George E.
Department of Study
Business Administration
Discipline
Business Administration
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Business Administration, Management
Language
eng
Abstract
"It first analyzes the traditional way by which firms improve their knowledge of the market, which has been to devote resources to marketing research to reduce demand uncertainty. It focuses then on firms which learn about consumer preferences through ""market-based learning"". The analysis is done within a context of a dynamic, stochastic model with Bayesian learning over a finite planning horizon. Analytical results are derived for some special cases of the model. More specifically, the impact of manufacturing flexibility on the firm's design strategy in a single product case over a two-period planning horizon is analyzed. Additional insights are gleaned from a simulation of a more general, multiple product model. The objective of the analysis is to better understand the implications that uncertainty has in the design of both the product line and the process technology and assess the impact that information acquisition has on both marketing and manufacturing decisions. Key ingredients are the proactive dimension of manufacturing flexibility and the role that product line strategies play in the acquisition of market information."
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