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Diffusion Modeling Based on Customer's Review and Product Satisfaction

Author

Listed:
  • Adarsh Anand

    (Department of Operational Research, University of Delhi, Delhi, India)

  • Ompal Singh

    (Department of Operational Research, University of Delhi, Delhi, India)

  • Richie Aggarwal

    (University of Delhi, Delhi, India)

  • Deepti Aggrawal

    (Amity University, Noida, India)

Abstract

The purpose of this paper is to determine the internal/external factors that lead to fluctuation in marketplace. Before introducing new products in the market, organization needs proper understanding of the market which can be realized through sound mathematical modeling and scientific decision making tools. The objective is as follows: market size is determined by the number of customers a product is flanked by; therefore, it becomes critical to understand satisfaction of demanders as one of the metric for measuring performance of the product. In this paper, the authors have discussed how the adoption takes place in accordance with the market fluctuation. For this purpose, they have developed four different methodical frameworks to help the management to estimate sales due to varying behaviour of market (as per reviews about the product). Analysis and validation has been done on two different real life datasets. Weighted Criteria Value Approach (WCVA) has been applied to rank the models by using several goodness of fit collectively.

Suggested Citation

  • Adarsh Anand & Ompal Singh & Richie Aggarwal & Deepti Aggrawal, 2016. "Diffusion Modeling Based on Customer's Review and Product Satisfaction," International Journal of Technology Diffusion (IJTD), IGI Global, vol. 7(1), pages 20-31, January.
    • Handle: RePEc:igg:jtd000:v:7:y:2016:i:1:p:20-31
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    Cited by:

    1. Adarsh Anand & Richie Aggarwal & Ompal Singh, 2019. "Using Weibull Distribution for Modeling Bimodal Diffusion Curves: A Naive Framework to Study Product Life Cycle," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(07), pages 1-17, November.

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