| Title |
Determining consumers' willingness to pay for digital information goods
|
| Author |
Kreczko, Nicholas S
|
| Department |
Department of Economics and Business
|
| Institution |
Colorado College
|
| Degree Type |
bachelor
|
| Degree Name |
Bachelor of Arts
|
| Type of Resource |
text
|
| Digital Origin |
reformatted digital
|
| Date Accepted |
2009
|
| Date Digitized |
2009
|
| Abstract |
A key element of any business is determining the profit maximizing price of a good. Yet each price level will exclude some consumers who find the equilibrium too high and refrain from entering the market. If a similar product could be offered at a lower price it may lure the abstaining customers to consume, thereby increasing profits. For an industry that is flustering like the music industry, it is crucial new sales methods are found to continue growth and expansion. This paper evaluates an MP3 bundle as a modified product to attract new customers and encourage current customer to purchase more songs. Survey response data is used to determine a profit maximizing price at which to offer the modified digital song.
|
| Keywords |
Bundling
Subsidy
MP3
Information good
Advertising
Willingness to pay
iTunes
|
| Rights Statement |
Copyright restrictions apply. Contact the author for permission to publish.
|
| Extent |
66 p. : ill. ; 29 cm.
|
| Note (thesis) |
Senior Thesis -- Colorado College
|
| Note (bibliography) |
Bibliography : p. 54-57
|
| Language |
eng
|
| OCLC Identifier |
436151538
|
| Handle |
http://hdl.handle.net/10176/coccc:1336
|
