strategies and pricing policies for new products and product bundles

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1、IIIUnderstandingMarketSharesThispageintentionallyleftblank4ShouldtheFirmPursueMarketShare?Inchapter3wediscussedtheproblemofdefiningthemarket.Inaddition,webrieflynotedhowtheparticulardefinitionofamarketaffectsthemea-sureofmarketshare.Inthischapter,weanalyzetheconditionsunderwhichthefirmshouldpursuemar

2、ketshareasagoal.Forsimplicity,wefocusonthesingle-productfirm.Chapter5willfocusonthemultiproductfirm.Inouranalysisweshallfocusonthedeterminantsofmarketshareandanalyzehowthesefactorsaffectthefirm’smarketingpolicy.Inparticular,weshowthatitiscriticaltodistinguishbetweenvolume-basedandrevenue-basedmarket

3、share.Asinpreviouschapters,weshallemphasizehowtocoor-dinatemarketingandfinancialdecisionmaking(i.e.,FusionforProfit).Theinformationcoveredinthischapterwillbeusefulwhenyouarefacedwiththefollowingdecisions:•Howshouldmyfirmmeasurethemarketshareofitsproduct?•Isitbettertomeasuremarketshareintermsofreven

4、ueorvolume?•Underwhatconditionsdoesitmakesensetopursuemarketshareasanobjective?•Isthereaconflictbetweenpursuingmarketshareandmaximizinglong-runperformance?•Howdocostanddemanddynamicsaffectmarketshare?•Underwhatconditionsshouldmyfirmattempttobeapioneerinitsindustry?4748UNDERSTANDINGMARKETSHARES•Aret

5、hereanyconditionsunderwhichalowmarketsharewillleadtoanincreaseinlong-runprofits?Thefollowingtermswillbeintroducedinthischapter(seeglossaryfordefinitions):asymmetricgrossrevenueprocessinnovations—informationincrementalcostsmoderatecertaintyequivalentindustrystandardprofitabilitychannelofinstalled-ba

6、seeffectrepeatpurchasedistributionlearningcurveeffectbehaviorchurnratelimitpricingreservationpriceCoaseparadoxmarginalcostreservationpriceconsumersurplusmarginalprofiteffectcostdynamicsmarginalrevenuereverseengineeringdemanddynamicsoptimalprofitrisk-neutraldiffusionperfectpricesampleselectivitydiscoun

7、tratediscriminationbiasdynamicpricingpioneeringadvantagespillovereffectspolicytheorystrategicflexibilityexemplarbrandpredatorypricingstrategicpricingexperiencecurveeffectpresentvalueswitchingcostsfirst-moveradvantagepriceskimmin