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1-060-SalesMarketing-ModelingScenario

Author(s): Brian Winkel

SIMIODE - Systemic Initiative for Modeling Investigations and Opportunities with Differential Equations

Keywords: marketing Bass model sales consumer products innovators imitators

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Abstract

Resource Image We lead students through a sales forecasting model based on marketing principles first espoused by F. M. Bass with definitions, assumptions, equations, and data on sales over 15 year periods against which models may be tested.

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Article Context

Resource Type
Differential Equation Type
Technique
Qualitative Analysis
Application Area
Course
Course Level
Lesson Length
Technology
Approach
Skills
Key Scientific Process Skills
Assessment Type
Pedagogical Approaches
Vision and Change Core Competencies - Ability
Principles of How People Learn
Bloom's Cognitive Level

Description

The model presents a rationale of how current adopters and potential adopters of a new product interact.

The basic premise of the model is that adopters can be classified as innovators or as imitators and the speed and timing of adoption depends on their degree of innovativeness and the degree of imitation among adopters.

The Bass model has been widely used in forecasting, especially new products' sales forecasting and technology forecasting. Mathematically, the basic Bass diffusion is a Riccati [differential] equation with constant coefficients.

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Authors

Author(s): Brian Winkel

SIMIODE - Systemic Initiative for Modeling Investigations and Opportunities with Differential Equations

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