Summary
The author’s stochastic evolutionary adoption model (STEAM) is described. Methods for estimating its parameters from panel data covering the first part of the introductory period are outlined. A method by which the future purchase history of each panel household can be simulated and the results projected into a total market forecast is reported. Results obtained by applying the model and simulation procedure to live data for a new product are shown, and compared with the product’s actual sales during the years after its introduction.
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© 1976 Springer-Verlag Berlin Heidelberg
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Massy, W.F. (1976). Forecasting the Demand for New Convenience Products. In: Mathematical Models in Marketing. Lecture Notes in Economics and Mathematical Systems, vol 132. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51565-1_109
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DOI: https://doi.org/10.1007/978-3-642-51565-1_109
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-07869-2
Online ISBN: 978-3-642-51565-1
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