Inderscience Publishers

Regional diffusion for remanufactured tied products in ecologically conscious consumers

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Courtesy of Inderscience Publishers

In this paper, we demonstrate that independent aftermarket replacement component remanufacturers are able to help the host product manufacturers establish their market share. We employ agent-based simulation and evolutionary game theory in the light of innovative diffusion process with network externality and sustainability consciousness, in microscopic and dynamic emergent perspectives. We suggest a strategic decision management insight for better marketing an environmental sustainable product in a new product diffusion process. We show that both market share and long-term profitability of a tied product firm, with inferior market share, indeed can be raised significantly by applying the suggested price-protection-distribution decision strategy at specific timing when the ecologically conscious consumer segment grows.

Keywords: sustainable economy, environmental sustainability, technology adoption, replicator dynamics, agent-based modelling, complex system simulation, regional diffusion, remanufactured tied products, ecologically conscious consumers, agent-based systems, multi-agent systems, component remanufacturing

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