A mathematical model for the customer dynamics based on marketing policy

A mathematical model for the customer dynamics based on marketing policy

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Article ID: iaor201530182
Volume: 273
Start Page Number: 42
End Page Number: 53
Publication Date: Jan 2016
Journal: Applied Mathematics and Computation
Authors: , , ,
Keywords: simulation, behaviour
Abstract:

We consider a compartmental model to study the evolution of the number of regular customers and referral customers in some corporation. Transitions between compartments are modeled by parameters depending on the social network and the marketing policy of the corporation. We obtain some results on the asymptotic number of regular customers and referral customers in several particular scenarios. Additionally we present some simulation that illustrates the behavior of the model and discuss its applicability.

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