Summary
Brand preference information combined with a simple two-dimensional Markov process is used to study characteristics of market dynamics. Advertising alters temporarily the brand preference structure of the consuming public. Discussions of time relations, period-to-period changes in market shares, gains and losses resulting from promotional activity and rapidity of convergence to new steady-state values are considered. Sensitivity characteristics of the relations are commented upon.
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© 1976 Springer-Verlag Berlin Heidelberg
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Maffei, R.B. (1976). Brand Preferences and Simple Markov Processes. In: Mathematical Models in Marketing. Lecture Notes in Economics and Mathematical Systems, vol 132. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51565-1_1
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DOI: https://doi.org/10.1007/978-3-642-51565-1_1
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-07869-2
Online ISBN: 978-3-642-51565-1
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