Temporal elasticity-based sales growth modelling for high technological products under volatile marketing environment
摘要
In the ever-changing landscape of marketing, understanding the dynamics of product adoption becomes crucial. While companies strive to cultivate a positive brand image to enhance their appeal to potential customers, the external marketing environment significantly influences these efforts. Leveraging innovation diffusion modeling, this study employs a power function of time to accurately assess the overall impact of marketing endeavours. By examining the temporal elasticity, we aim to discern the positive, negative, or neutral market conditions affecting the introduction and sales trajectory of a new product in a volatile marketing environment. This research contributes valuable insights to marketers seeking to navigate and strategically respond to the challenges posed by dynamic market conditions. In the present work, we have attempted to model for this volatile market environment to unleash a variety of sales patterns over time using innovation diffusion dynamics and change point concept. The proposed model has been verified for several technological products and the results obtained are highly encouraging.