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On the Simple Economics of Advertising, Marketing, and Product Design.

Abstract:

We propose a framework for analyzing transformations of demand. Such transformations frequently stem from changes in the dispersion of consumers’ valuations, which lead to rotations of the demand curve. In a wide variety of settings, profits are a U-shaped function of dispersion. A high level of dispersion is complemented by a niche posture, and low dispersion is complemented by a mass-market posture. We investigate numerous applications of our framework, including product design; advertising...

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Authors


Justin P. Johnson More by this author
David P. Myatt More by this author
Volume:
185
Series:
Discussion paper series
Publication date:
2004
URN:
uuid:58f542f1-b892-4900-90ab-c9a8fbe5c5d8
Local pid:
oai:economics.ouls.ox.ac.uk:13123
Language:
English

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