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Dynamic Models of Doctor Adoption of Newly Released Pharmaceuticals
Published in Mark Paich, Corey Peck, Jason Valant, Pharmaceutical Product Branding Strategies, 2009
Mark Paich, Corey Peck, Jason Valant
There is a rich and detailed history of research and data in the area of consumer adoption of newly introduced products. The marketing literature is ripe with studies investigating both traditional adoption/diffusion frameworks and extensions thereof. In essence, these models deal with the rate at which new products are adopted and the factors governing that rate. Perhaps the most popular of these models is the Bass Diffusion model, which despite certain drawbacks has stood the test of time and continues to inform the analysis of new product diffusion in a wide variety of industries. Translating the Bass Diffusion mathematic formulas into a stock/flow framework is shown in Figure 2.*
Do Life-cycle and Generation Moderate Sentiment and Diffusion?
Published in Journal of Computer Information Systems, 2023
Tung Cu, James Van Scotter, Helmut Schneider
Since the late 1960s, the Bass diffusion model has been studied widely to explain product diffusion patterns and predict market demands.21 However, the model considers only single-generation products. The idea of multi-generation diffusion was first introduced by Norton and Bass.22 Their model deals with the dynamic sales behavior toward successive generations of high-technology products. Other studies further extend this model by defining market potential as a function of sales revenue from multiple generations.23 Similarly, the original theory of the one-stage diffusion or “hypodermic” treats users as atomized objects of SMN influence. The theory assumes that influence directly diffuses from sources to users. In contrast, the two-stage model assumes that users can be influenced more by each other. By the late 1970s, the two-stage diffusion became the dominant paradigm, indicating that prestige users in social networks play an important role in the first stage of the diffusion process.10 Since product life cycle (PLC) can be a proxy measure of the diffusion process,24 the two-stage model implies that influence among users may be stronger early in the PLC rather than late in the PLC.
Optimal advertising duration for profit maximization
Published in Journal of Management Analytics, 2020
Adarsh Anand, Shakshi Singhal, Ompal Singh
The Bass model is studied for its robustness in describing the diffusion process exclusive of any decision variables. Although the Bass model possesses various advantages, it faces also a few limitations (Chandrasekaran & Tellis, 2007). One of the limitations of the Bass diffusion model is that it does not incorporate any direct influence of marketing mix variables on the adoption process. Therefore, Bass et al. (1994) further generalized the Bass model to include the effects of marketing variables such as price and advertising expenditure. Both the Bass and the generalized Bass model have resulted in numerous applications for explaining and forecasting the growth curve of consumer durables and high-technology products. Many researchers further extended these models by relaxing their assumptions to describe a more plausible adoption process (Peres, Muller, & Mahajan, 2010).
Modeling Price Cultivation for Major Quality Goods
Published in American Journal of Mathematical and Management Sciences, 2020
Miao-Sheng Chen, Mou-Jian Li, Hsien-Bin Wang
Mahajan, Muller, and Bass (1990) applied communication theories in marketing, and extended previous studies on the promotion and diffusion of new products (Arndt, 1967; Bass, 1969; Frank, Massy, & Morrison, 1964, King, 1963, Silk, 1966). Bass (1969, 2004) observed the diffusion of new products and proposed a growth model that illustrates the timing of the first purchase of a new product. The model assumes that a new product will diffuse in the market after launch. The Bass Diffusion Model is widely applied by scholars in the field of management, mainly because the time-series data that tracks the actual sales of new products can identify the rule of new product sales and facilitate forecasting of sales trends. These trends can help allocate resources for future sales and marketing (Kalish & Lilien, 1986; Mahajan & Wind, 1985). The Bass Diffusion Model is able to describe the diffusion process and generate a mathematic model to facilitate discussion, which is why many scholars try to extend the basis of the theory or conduct empirical studies.