A mathematical model for diffusion of products with multiple generations

A mathematical model for diffusion of products with multiple generations

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Article ID: iaor200933064
Country: United Kingdom
Volume: 4
Issue: 2
Start Page Number: 214
End Page Number: 229
Publication Date: Jan 2009
Journal: International Journal of Operational Research
Authors: ,
Keywords: forecasting: applications
Abstract:

Modelling the new product sales growth and forecasting the future over the product life–cycle has been an important area of research in Marketing. Many models on this topic have also been extended for describing the diffusion of products having multiple technological generations. But factors influencing diffusion of such products are very distinctive and therefore the modelling approach needs to be different. This paper proposes a model that improves upon some well–know models to study the sales growth of successive generation of products. The model has been validated on a sales–data and has also been compared with an established model.

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