About this item
Highlights
- Innovation Diffusion Models Understand innovation diffusion models and their role in business success Innovation diffusion models are statistical models that predict the medium- and long-term sales performance of new products on a market.
- About the Author: Mariangela Guidolin, PhD is Associate Professor of Business and Economic Statistics in the Department of Statistical Sciences, University of Padua, Italy.
- 224 Pages
- Mathematics, Probability & Statistics
Description
About the Book
"New product growth models - also called innovation diffusion models - are used to describe and forecast the evolution in time of sales of new products. Commercial products are characterized by a finite life cycle, which follows a nonlinear path, namely birth, growth, maturity, and decline. Previously, traditional time series frameworks such as ARIMA models have been used, however, they do not prove a satisfactory choice. A growing need for quantitative marketing in today's market is driving the development of new product diffusion models to determine the life cycle of a new product. The statistical techniques involved in new model estimations combine time series analysis with nonlinear regression techniques, which this book shall explore. Innovation Diffusion Models: Theory and Practice fully assesses the main mathematical features of the models, discussing the meaning of the parameters from the marketing point of view with several real-data examples; presents and discuss the statistical aspects involved in model estimation and selection; presents and discusses forecasting and explanatory ability of the proposed models with real-data applications in several industrial and commercial sector and proposes new ideas for future achievements in research and commercial practice."--Book Synopsis
Innovation Diffusion ModelsUnderstand innovation diffusion models and their role in business success
Innovation diffusion models are statistical models that predict the medium- and long-term sales performance of new products on a market. They account for numerous factors that contribute to the life cycle of a new product and are subject to continuous reassessment as markets transform and the business world becomes more complex. In a modern market environment where product life cycles are becoming ever shorter, the latest innovation diffusion models are essential for businesses looking to perfect their decision-making processes.
Innovation Diffusion Models: Theory and Practice provides a comprehensive and up-to-date guide to these models and their potential to impact product development. It focuses on the latest product diffusion models, which combine time series analysis with nonlinear regression techniques to create increasingly refined predictions. Its combination of mathematical theory and business practice makes it an indispensable tool across many sectors of industry and commerce.
Innovation Diffusion Models readers will also find:
- Real-world examples demonstrating the kinds of data sets generated by new product growth models and their potential applications
- Discussion of the factors underlying the decision to select a given growth model for a particular product
- Clear, detailed explanation of each model's explanatory ability
Innovation Diffusion Models is an essential volume for practitioners in any field of industry or commerce, as well as for graduate students and researchers in business and finance.
From the Back Cover
Understand innovation diffusion models and their role in business success
Innovation diffusion models are statistical models that predict the medium- and long-term sales performance of new products on a market. They account for numerous factors that contribute to the life cycle of a new product and are subject to continuous reassessment as markets transform and the business world becomes more complex. In a modern market environment where product life cycles are becoming ever shorter, the latest innovation diffusion models are essential for businesses looking to perfect their decision-making processes.
Innovation Diffusion Models: Theory and Practice provides a comprehensive and up-to-date guide to these models and their potential to impact product development. It focuses on the latest product diffusion models, which combine time series analysis with nonlinear regression techniques to create increasingly refined predictions. Its combination of mathematical theory and business practice makes it an indispensable tool across many sectors of industry and commerce.
Innovation Diffusion Models readers will also find:
- Real-world examples demonstrating the kinds of data sets generated by new product growth models and their potential applications
- Discussion of the factors underlying the decision to select a given growth model for a particular product
- Clear, detailed explanation of each model's explanatory ability
Innovation Diffusion Models is an essential volume for practitioners in any field of industry or commerce, as well as for graduate students and researchers in business and finance.
About the Author
Mariangela Guidolin, PhD is Associate Professor of Business and Economic Statistics in the Department of Statistical Sciences, University of Padua, Italy. She has published extensively on innovation diffusion models.