Stochastic diffusion models with advertising and word-of-mouth effects

Research output: Contribution to journalArticle

Abstract

This paper presents a stochastic diffusion model which incorporates advertising word-of-mouth effects. The model defines a 3 variate stochastic process based on explicit assumptions regarding consumer behavior and consumers' response to advertising. The model generalizes a wide variety of advertising models and in addition includes several classes of consumers, interaction effects between these consumers and, of course, a stochastic framework that may be used for assessing the risk implications of advertising policies and for empirical analyses purposes.

Original languageEnglish (US)
Pages (from-to)348-356
Number of pages9
JournalEuropean Journal of Operational Research
Volume12
Issue number4
DOIs
StatePublished - Apr 1983

ASJC Scopus subject areas

  • Computer Science(all)
  • Modeling and Simulation
  • Management Science and Operations Research
  • Information Systems and Management

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