A New Multivariate Product Growth Model
AbstractTo examine cross-country diffusion of new products, marketing researchers have to rely on a multivariate product growth model. We put forward such a model, and show that it is a natural extension of the original Bass (1969) model. We contrast our model with currently in use multivariate models and we show that inference is much easier and interpretation is straightforward. In fact, parameter estimation can be done using standard commercially available software. We illustrate the benefits of our model relative to other models in simulation experiments. An application to a three-country CD sales series shows the merits of our model in practice.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 06-027/4.
Date of creation: 16 Mar 2006
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Web page: http://www.tinbergen.nl
Diffusion; International marketing; econometric models;
Find related papers by JEL classification:
- C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
- M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-04-22 (All new papers)
- NEP-ECM-2006-04-22 (Econometrics)
- NEP-MKT-2006-04-22 (Marketing)
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- V. Kumar & Trichy V. Krishnan, 2002. "Multinational Diffusion Models: An Alternative Framework," Marketing Science, INFORMS, vol. 21(3), pages 318-330, July.
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