消费者利他行为下初创企业的创新产品定价与融资策略  

Innovative Product Pricing and Financing Strategies for Start-ups Considering Consumers'Altruistic Behavior

作　　者：张敬[1] 高铁 王俊力 李向东[1] ZHANG Jing;GAO Tie;WANG Junli;LI Xiangdong(School of Economics and Management,Hebei University of Technology,Tianjin 300401,China)

机构地区：[1]河北工业大学经济管理学院,天津300401

出　　处：《工业工程与管理》2025年第1期19-32,共14页Industrial Engineering and Management

基　　金：国家社会科学基金资助项目(18BGL012);河北省自然科学基金资助项目(G2023202023);河北省社会科学发展研究课题资助项目(20230203020)。

摘　　要：针对初创企业在创新产品定价与融资策略选择方面的挑战,构建了考虑消费者利他行为的动态博弈模型,并深入分析了银行融资与奖励型众筹两种单融资模式以及“银行融资+奖励型众筹”混合融资模式。研究结果表明,在单融资模式中,消费者不存在利他行为时,若初创企业的研发投入成本系数较低且消费者创新偏好较高,企业应该采取高定价策略并选择奖励型众筹模式;当存在消费者利他行为时,企业的融资模式受到产品创新成功率、研发投入成本系数与消费者创新偏好的共同影响,且在低价策略中,利他行为可以激励企业提高产品定价并转向奖励型众筹模式。在混合融资模式中,奖励型众筹的适当比例增加有助于提升企业利润,但比例过高会带来负面效应。初创企业应依据企业的发展阶段、市场条件灵活调整融资模式。研究结果为初创企业根据消费者利他行为和市场条件进行产品定价和融资策略的选择提供了理论依据与实践指导。Addressing the complexities faced by start-ups in pricing innovative products and choosing financing strategies,a dynamic game model considering consumers'altruistic behavior was constructed.A comprehensive analysis of two distinct financing modes,bank financing and rewardbased crowdfunding,as well as a hybrid mode that combines both was offered.The findings reveal that in the singular financing mode,when consumers do not exhibit altruistic behavior,if the startups'R&D investment cost coefficient is low and the consumers'innovation preference is high,the company should adopt a high pricing strategy and choose the reward-based crowdfunding mode.In scenarios when consumers'altruistic behavior is present,the enterprise's financing mode is affected by the combination of product innovation success rate,R&D investment cost coefficient and consumers'innovation preference,and in the low pricing strategy,the altruistic behavior can motivate the enterprise to increase the product pricing and shift to the reward-based crowdfunding mode.In the hybrid financing mode,an appropriate proportion of reward-based crowdfunding can help to increase the profit of the enterprise,but too high a proportion can bring negative effects.Start-ups should flexibly adjust their financing modes according to their development stage and market conditions.The results provide a theoretical basis and practical guidance for start-ups to seek to tailor their product pricing and financing strategies according to consumers'altruistic behavior and market dynamics.

关 键 词：初创企业 创新产品定价 银行融资 奖励型众筹 混合融资 利他行为 

分 类 号：F274[经济管理—企业管理]