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The value of simple models in new product forecasting and customer‐base analysis

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  • Peter S. Fader
  • Bruce G. S. Hardie

Abstract

In this paper, we develop the idea of a ‘simple model’—defined as one that a good business student can build and implement on his/her notebook PC using readily available software. We explore how such models have the potential to bridge the gap between what marketing academics create and what marketing managers seek in a model. We provide specific examples from the areas of new product sales forecasting and customer‐base analysis, using spreadsheet‐based models that provide good forecasts and insights about actual buyer behaviour. Copyright © 2005 John Wiley & Sons, Ltd.

Suggested Citation

  • Peter S. Fader & Bruce G. S. Hardie, 2005. "The value of simple models in new product forecasting and customer‐base analysis," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 21(4‐5), pages 461-473, July.
    • Handle: RePEc:wly:apsmbi:v:21:y:2005:i:4-5:p:461-473
    DOI: 10.1002/asmb.592
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    Cited by:

    1. Shi, Ruixia & Chen, Hongyu & Sethi, Suresh P., 2019. "A generalized count model on customers' purchases in O2O market," International Journal of Production Economics, Elsevier, vol. 215(C), pages 121-130.

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