A Repeat Purchase Diffusion Model: Bayesian Estimation and Control (Classic Reprint) - Hardcover

Name: A Repeat Purchase Diffusion Model: Bayesian Estimation and Control (Classic Reprint)
Author: Gary L. Lilien
ISBN: 9780656053940

Gary L. Lilien

9780656053940: A Repeat Purchase Diffusion Model: Bayesian Estimation and Control (Classic Reprint)

Hardcover

ISBN 10: 0656053941 ISBN 13: 9780656053940

Publisher: Forgotten Books, 2020

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Learn how marketing detail and word-of-mouth shape a new product’s rise, with practical, Bayesian guidance.

This book presents a practical model for understanding how a new product gains customers over time. It focuses on detailing by sales reps and the powerful influence of word-of-mouth among doctors, then shows how to estimate and control the process to improve long-term sales. The approach combines theory with real data and offers a clear path from data to policy.

What you’ll gain from reading this edition:

A two-state view of doctors who are not prescribing vs. those who are, and how detailing and word-of-mouth affect transitions.
Techniques for estimating model parameters, including Bayesian methods that use prior data from similar products.
Strategies to develop detailing policies that maximize long-term profit while staying simple to implement in a portfolio.
Illustrations of forecasting and policy updates as new data comes in, plus examples of how to solve for optimal detailing levels over time.

Ideal for readers of marketing science and product strategy, especially those interested in incremental learning and practical policy design.

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