Innovation Diffusion Models: Theory and Practice

Innovation diffusion models are statistical models that predict the medium- and long-term sales performance of new products on a market. They account for numerous factors that contribute to the life cycle of a new product and are subject to continuous reassessment as markets transform and the business world becomes more complex. Innovation Diffusion Models: Theory and Practice provides a comprehensive and up-to-date guide to these models and their potential to impact product development. It focuses on the latest product diffusion models, which combine time series analysis with nonlinear regression techniques to create increasingly refined predictions.

Format: Hardback
Length: 224 pages
Publication date: 26 October 2023
Publisher: John Wiley & Sons Inc

Innovation diffusion models are statistical frameworks that forecast the medium- and long-term sales performance of new products in a market. They consider a wide range of factors that influence a product's life cycle and are continuously reassessed as markets evolve and the business landscape becomes more intricate. In today's fast-paced market environment, where product life cycles are shortening, these models have become crucial for businesses seeking to enhance their decision-making processes.

Innovation Diffusion Models: Theory and Practice offers a comprehensive and up-to-date exploration of these models and their potential to shape product development. It delves into the latest product diffusion models, which employ time series analysis and nonlinear regression techniques to generate increasingly accurate predictions. By seamlessly blending mathematical theory with practical business applications, this book serves as an indispensable tool for practitioners across various industries and sectors.

Furthermore, Innovation Diffusion Models provides real-world examples showcasing the types of data sets generated by new product growth models and their potential applications. It also discusses the key factors that influence the selection of a specific growth model for a particular product, offering clear and detailed explanations of each model's explanatory power.

This essential volume is tailored for professionals in any field of industry or commerce, as well as for graduate students and researchers in business and finance. By gaining a deeper understanding of innovation diffusion models, readers can gain valuable insights into the dynamics of product adoption, market trends, and competitive strategies, enabling them to make informed decisions and drive success in their respective fields.

Weight: 572g
Dimension: 244 x 170 x 19 (mm)
ISBN-13: 9781119756200