Sequential Entry with Brand Loyalty Caused by Consumer Learning-by-Using
研究了新产品市场中先进入者如何通过低价策略建立客户基础，使消费者因学习成本而产生品牌忠诚，从而在后续竞争者进入时保持优势并缓和价格竞争。
We examine first mover advantages in a new product market with sequential entry. Effort is necessary to learn how to use new products, and consumers are assumed to differ in their ability to expend such effort. We consider the intertemporal pricing strategy of the first entrant who anticipates the late entry of a rival firm. The first entrant's optimal strategy is to set a low introductory price. This builds up a customer base, which remains loyal despite the later entry of a lower-priced rival, and weakens price competition between the two firms. Thus, brand loyalty makes entry into the market easier.