Product Differentiation, Attribute Substitution and Hedonic Pricing

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Authors

  • S. Bisaliah
     M. P. Birla Institute of Management - Associate Bharatiya Vidya Bhavan, Bangalore ,IN

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Abstract

Two powerful concepts in Economic Theory could open up a treasure house for research in Management Sciences, especially in the area of marketing. First, the concept of product differentiation, articulating that products are similar but not identical. Second, the concept of attribute substitution, emphasizing that goods are a bunch of attributes, and consumers substitute attributes and not products as such. This has led to the concept of implicit or hedonic pricing. The paper is an attempt to examine the relationship between product differentiation and attributes based pricing. It also attempts to derive Attribute - Induced Innovation of product Development, by eliminating undesirable attributes in the product and by grafting desirable attributes into the product through R&D efforts.

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Published

2007-07-23

How to Cite

Bisaliah, S. (2007). Product Differentiation, Attribute Substitution and Hedonic Pricing. DHARANA - Bhavan’s International Journal of Business, 1(1), 13–17. Retrieved from http://informaticsjournals.com/index.php/dbijb/article/view/17614

Issue

Volume 1, Issue 1, July 2007

Section

Research Articles

 

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