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

Jihoon Hong, Jungwoo Shin, Daeho Lee

Research output: Contribution to journalArticlepeer-review

27 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)11-20
Number of pages10
JournalTechnological Forecasting and Social Change
Volume103
DOIs
StatePublished - Feb 1 2016
Externally publishedYes

Keywords

  • Bayesian estimation
  • Car-home connectivity function
  • Connected car
  • Consumer preference
  • Multivariate probit model
  • Smart home

ASJC Scopus subject areas

  • Business and International Management
  • Applied Psychology
  • Management of Technology and Innovation

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