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How much to tell your customer? – A survey of three perspectives on selling strategies with incompletely specified products

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  • Gönsch, Jochen

Abstract

Today's technology facilitates selling strategies that were unthinkable only a few years ago. One increasingly popular strategy uses incompletely specified products (ICSPs). The seller retains the right to specify some details of the product or service after the sale. The selling strategies’ main advantages are an additional dimension for market segmentation and operational flexibility due to supply-side substitution possibilities. Since the strategy became popular with Priceline and Hotwire in the travel industry about two decades ago, it has increasingly been adopted by other industries with stochastic demand and limited capacity as well. At the same time, it is actively researched from the perspectives of strategic operations management, empirics, and revenue management.

Suggested Citation

  • Gönsch, Jochen, 2020. "How much to tell your customer? – A survey of three perspectives on selling strategies with incompletely specified products," European Journal of Operational Research, Elsevier, vol. 280(3), pages 793-817.
    • Handle: RePEc:eee:ejores:v:280:y:2020:i:3:p:793-817
    DOI: 10.1016/j.ejor.2019.02.008
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