Market Response Models for the Analysis of New Products

Cover Market Response Models for the Analysis of New Products
Market Response Models for the Analysis of New Products
Glen L Urban
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17 The input problem can be best solved by integrating the model into an information system containing a data bank, statistical cap- abilities, and an input/output facility. The manager then accesses this system to request statistical estimates based on the test data. This data may then be reviewed and perhaps updated before being specified as input for the model. For example, in an actual appli- cation of this model a data base consisting of (1) continuing awareness, usage and recall data, (2)... continuing retail store audits, (3) sales call reports, and (4) shipment records were available to support the model input requirements. Statistical regression and on-line, non- 19 linear estimation procedures were used to obtain the model input. These were then reviewed, supplimented, and updated by managers to obtain a set of input that represented the best assessment of the new product environment and behavior. To solve the model, many alternate strategies must be evaluated. These alternatives are prescribed by managers through a remote console of a time shared computer system.

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