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Prof. Wai Fong Boh (Nanyang Technological University in Singapur)
- Date: Friday, April 12th, 2024
- Time: 11:00 am - 12:30 pm
- Location: Ludwigstr. 28 VG/II; Room 211b
- Title: "Consumer Evaluation of Digital Product Innovations: Disentangling Effects of Novelty and Familiarity"
- Abstract: With the increasing prevalence of digital products that embody both hardware and digital artifacts, it has become imperative for firms to identify innovation strategies that affect the design of digital products and can significantly impact consumers. Innovative components can introduce novel functionalities that attract and satisfy consumers. However, novelty can also reduce consumers’ familiarity with and acceptance of new products. This study examines how innovation design strategies must factor in consumers’ considerations of novelty and familiarity when evaluating innovation in digital devices. We investigated the pivotal role of innovative hardware and software component designs in fostering positive consumer evaluations of digital products. Our findings suggest that there might be a tension between the need to ensure novelty and consumer familiarity with digital devices. We find that the early introduction of dominant component innovations is necessary, yet we need to increase the visibility of such innovations. Furthermore, we find that the early market introduction of non-dominant component innovations is beneficial, yet we need to decrease the visibility of these innovations. The main findings of this study reveal how the innovative design of digital products can influence consumer evaluations.
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