Forecasting the Demand for New Convenience Products
Open Access
- 1 November 1969
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing Research
- Vol. 6 (4) , 405-412
- https://doi.org/10.1177/002224376900600401
Abstract
The author's stochastic evolutionary adoption model (STEAM) is briefly described. Methods for estimating its parameters from panel data covering the first part of the introductory period are outlined. A method by which the future purchase history of each panel household can be simulated and the results projected into a total market forecast is reported. Results obtained by applying the model and simulation procedure to live data for a new product are shown and compared with the product's actual sales during the years after its introduction.Keywords
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