IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v103y2016icp11-20.html
   My bibliography  Save this article

Strategic management of next-generation connected life: Focusing on smart key and car–home connectivity

Author

Listed:
  • Hong, Jihoon
  • Shin, Jungwoo
  • Lee, Daeho

Abstract

With the development of wireless technology, connectivity is becoming a more common feature of daily life. Connected cars and smart homes are typical examples, and the two markets are beginning to merge, as indicated by Apple's launch of “CarPlay” and “Home Kit” and iControl's partnership with Zubie. However, little research has been done on this subject because the integration of connected cars and smart homes has just begun. This study examines consumer preference for smart key functions (vehicle functions requested from outside the car) and car–home connectivity functions (communications between car and home), among others. Both revealed and stated preference datasets from a survey of U.S. drivers are used. The multivariate probit model and Bayesian estimation method are used to analyze consumer preferences. The results showed different preferences depending on socio-demographics and vehicle types. This paper provides marketing strategies for smart key functions and car–home connectivity functions by revealing socio-demographic characteristics and consumer preferences.

Suggested Citation

  • Hong, Jihoon & Shin, Jungwoo & Lee, Daeho, 2016. "Strategic management of next-generation connected life: Focusing on smart key and car–home connectivity," Technological Forecasting and Social Change, Elsevier, vol. 103(C), pages 11-20.
    • Handle: RePEc:eee:tefoso:v:103:y:2016:i:c:p:11-20
    DOI: 10.1016/j.techfore.2015.10.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162515002942
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2015.10.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Peine, Alexander, 2008. "Technological paradigms and complex technical systems--The case of Smart Homes," Research Policy, Elsevier, vol. 37(3), pages 508-529, April.
    2. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, January.
    3. Ehrenhard, Michel & Kijl, Bjorn & Nieuwenhuis, Lambert, 2014. "Market adoption barriers of multi-stakeholder technology: Smart homes for the aging population," Technological Forecasting and Social Change, Elsevier, vol. 89(C), pages 306-315.
    4. Puneet Manchanda & Asim Ansari & Sunil Gupta, 1999. "The “Shopping Basket”: A Model for Multicategory Purchase Incidence Decisions," Marketing Science, INFORMS, vol. 18(2), pages 95-114.
    5. Alexandra-Gwyn Paetz & Elisabeth Dütschke & Wolf Fichtner, 2012. "Smart Homes as a Means to Sustainable Energy Consumption: A Study of Consumer Perceptions," Journal of Consumer Policy, Springer, vol. 35(1), pages 23-41, March.
    6. Balta-Ozkan, Nazmiye & Davidson, Rosemary & Bicket, Martha & Whitmarsh, Lorraine, 2013. "The development of smart homes market in the UK," Energy, Elsevier, vol. 60(C), pages 361-372.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shin, Jungwoo & Park, Yuri & Lee, Daeho, 2018. "Who will be smart home users? An analysis of adoption and diffusion of smart homes," Technological Forecasting and Social Change, Elsevier, vol. 134(C), pages 246-253.
    2. Tu, Gengyang & Faure, Corinne & Schleich, Joachim & Guetlein, Marie-Charlotte, 2021. "The heat is off! The role of technology attributes and individual attitudes in the diffusion of Smart thermostats – findings from a multi-country survey," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    3. Edward Oughton, 2017. "Towards 5G: scenario-based assessment of the future supply and demand for mobile telecommunications infrastructure," Working Papers 2017/04, Cambridge Judge Business School, University of Cambridge.
    4. Marikyan, Davit & Papagiannidis, Savvas & Alamanos, Eleftherios, 2019. "A systematic review of the smart home literature: A user perspective," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 139-154.
    5. Hong, Areum & Nam, Changi & Kim, Seongcheol, 2017. "Analysis of the barriers that consumers encounter when smart home service is introduced in South Korea," 14th ITS Asia-Pacific Regional Conference, Kyoto 2017: Mapping ICT into Transformation for the Next Information Society 168486, International Telecommunications Society (ITS).
    6. Dang, Ngoc Bich & Bertrandias, Laurent, 2023. "Social robots as healing aids: How and why powerlessness influences the intention to adopt social robots," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    7. Ardito, Lorenzo & D'Adda, Diego & Messeni Petruzzelli, Antonio, 2018. "Mapping innovation dynamics in the Internet of Things domain: Evidence from patent analysis," Technological Forecasting and Social Change, Elsevier, vol. 136(C), pages 317-330.
    8. Ponzoa, José M. & Gómez, Andrés & Villaverde, Silvia & Díaz, Vicente, 2021. "Technologically empowered? perception and acceptance of AR glasses and 3D printers in new generations of consumers," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    9. Nasrollahi, Maedeh & Ghadikolaei, Abdolhamid Safaei & Ghasemi, Rohollah & Sheykhizadeh, Morteza & Abdi, Mehdi, 2022. "Identification and prioritization of connected vehicle technologies for sustainable development in Iran," Technology in Society, Elsevier, vol. 68(C).
    10. Paola Clerici Maestosi, 2024. "Harmonizing Urban Innovation: Exploring the Nexus between Smart Cities and Positive Energy Districts," Energies, MDPI, vol. 17(14), pages 1-10, July.
    11. Jungwoo Shin & Suna Kang & Donghyun Lee & Bum Il Hong, 2018. "Analysing the failure factors of eco‐friendly home appliances based on a user‐centered approach," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1399-1408, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hong, Areum & Nam, Changi & Kim, Seongcheol, 2020. "What will be the possible barriers to consumers’ adoption of smart home services?," Telecommunications Policy, Elsevier, vol. 44(2).
    2. Christine Milchram & Geerten Van de Kaa & Neelke Doorn & Rolf Künneke, 2018. "Moral Values as Factors for Social Acceptance of Smart Grid Technologies," Sustainability, MDPI, vol. 10(8), pages 1-23, August.
    3. Marikyan, Davit & Papagiannidis, Savvas & Alamanos, Eleftherios, 2019. "A systematic review of the smart home literature: A user perspective," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 139-154.
    4. Kim, Chul & Jun, Duk Bin & Park, Sungho, 2018. "Capturing flexible correlations in multiple-discrete choice outcomes using copulas," International Journal of Research in Marketing, Elsevier, vol. 35(1), pages 34-59.
    5. Richards, Timothy J. & Hamilton, Stephen F. & Yonezawa, Koichi, 2018. "Retail Market Power in a Shopping Basket Model of Supermarket Competition," Journal of Retailing, Elsevier, vol. 94(3), pages 328-342.
    6. Attour, Amel & Baudino, Marco & Krafft, Jackie & Lazaric, Nathalie, 2020. "Determinants of energy tracking application use at the city level: Evidence from France," Energy Policy, Elsevier, vol. 147(C).
    7. Bhat, Chandra R., 2008. "The multiple discrete-continuous extreme value (MDCEV) model: Role of utility function parameters, identification considerations, and model extensions," Transportation Research Part B: Methodological, Elsevier, vol. 42(3), pages 274-303, March.
    8. Wilson, Charlie & Hargreaves, Tom & Hauxwell-Baldwin, Richard, 2017. "Benefits and risks of smart home technologies," Energy Policy, Elsevier, vol. 103(C), pages 72-83.
    9. Nilashi, Mehrbakhsh & Abumalloh, Rabab Ali & Samad, Sarminah & Alrizq, Mesfer & Alyami, Sultan & Abosaq, Hamad & Alghamdi, Abdullah & Akib, Noor Adelyna Mohammed, 2022. "Factors impacting customer purchase intention of smart home security systems: Social data analysis using machine learning techniques," Technology in Society, Elsevier, vol. 71(C).
    10. Baudier, Patricia & Ammi, Chantal & Deboeuf-Rouchon, Matthieu, 2020. "Smart home: Highly-educated students' acceptance," Technological Forecasting and Social Change, Elsevier, vol. 153(C).
    11. Francisco Rosas & Santiago Acerenza & Peter F. Orazem, 2020. "Optimal pricing strategies for a cluster of goods: own- and cross-price effects with correlated tastes," Applied Economics, Taylor & Francis Journals, vol. 52(7), pages 742-755, February.
    12. Richter, Laura-Lucia & Pollitt, Michael G., 2018. "Which smart electricity service contracts will consumers accept? The demand for compensation in a platform market," Energy Economics, Elsevier, vol. 72(C), pages 436-450.
    13. Amel Attour & Marco Baudino & Jackie Krafft & Nathalie Lazaric, 2020. "Determinants of smart energy tracking application use at the city level: Evidence from France," Post-Print hal-02942483, HAL.
    14. Shin, Jungwoo & Park, Yuri & Lee, Daeho, 2016. "Strategic management of over-the-top services: Focusing on Korean consumer adoption behavior," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 329-337.
    15. Bruno Jacobs & Dennis Fok & Bas Donkers, 2021. "Understanding Large-Scale Dynamic Purchase Behavior," Marketing Science, INFORMS, vol. 40(5), pages 844-870, September.
    16. Bhat, Chandra R., 2005. "A multiple discrete-continuous extreme value model: formulation and application to discretionary time-use decisions," Transportation Research Part B: Methodological, Elsevier, vol. 39(8), pages 679-707, September.
    17. Tu, Gengyang & Faure, Corinne & Schleich, Joachim & Guetlein, Marie-Charlotte, 2021. "The heat is off! The role of technology attributes and individual attitudes in the diffusion of Smart thermostats – findings from a multi-country survey," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    18. repec:hum:wpaper:sfb649dp2005-028 is not listed on IDEAS
    19. Bonnet, Céline & Richards, Timothy J., 2016. "Models of Consumer Demand for Differentiated Products," TSE Working Papers 16-741, Toulouse School of Economics (TSE).
    20. WeiYu Ji & Edwin H. W. Chan, 2019. "Critical Factors Influencing the Adoption of Smart Home Energy Technology in China: A Guangdong Province Case Study," Energies, MDPI, vol. 12(21), pages 1-24, November.
    21. Park, Sangwon & Nicolau, Juan L., 2015. "Differentiated effect of advertising: Joint vs. separate consumption," Tourism Management, Elsevier, vol. 47(C), pages 107-114.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:103:y:2016:i:c:p:11-20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.