Items related to A Repeat Purchase Diffusion Model: Bayesian Estimation...
Synopsis
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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A Repeat Purchase Diffusion Model: Bayesian Estimation and Control
Print on DemandSeller: Forgotten Books, London, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: New. Print on Demand. This book presents a model and estimation procedure for forecasting and controlling the rate of sales for a newly launched product. The author develops a repeat-purchase diffusion model that incorporates the effect of marketing variables as well as word-of-mouth influence. Bayesian estimation, informed by data from past products, is used to update the modelās parameters. This procedure is shown to predict better and produce more stable parameter estimates than classical methods. It's also used to develop marketing strategies for new product introductions. By incorporating past experience with data specific to the new product, the framework provides stable parameter estimates and policy guidelines for marketing and sales teams. Ultimately, this book provides a structured and data-driven approach to forecasting and controlling sales, offering valuable insights for businesses seeking to optimize their new product launch strategies. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330294420_0
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A Repeat Purchase Diffusion Model Bayesian Estimation and Control Classic Reprint
Seller: PBShop.store US, Wood Dale, IL, U.S.A.
Seller rating 5 out of 5 stars
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330294420
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A Repeat Purchase Diffusion Model Bayesian Estimation and Control Classic Reprint
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
Seller rating 5 out of 5 stars
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330294420
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Ships from United Kingdom to U.S.A.
Ships from United Kingdom to U.S.A.
Quantity: 15 available