Modeling competition over product life cycles
Article
Article Title | Modeling competition over product life cycles |
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ERA Journal ID | 58 |
Article Category | Article |
Authors | Chan, Ka Ching (Author) and Mills, Terry M. (Author) |
Journal Title | Asia-Pacific Journal of Operational Research |
Journal Citation | 32 (4), pp. 1-16 |
Number of Pages | 16 |
Year | 2015 |
Publisher | World Scientific Publishing |
Place of Publication | Singapore |
ISSN | 0217-5959 |
1793-7019 | |
Digital Object Identifier (DOI) | https://doi.org/10.1142/S0217595915500219 |
Web Address (URL) | https://www.worldscientific.com/doi/abs/10.1142/S0217595915500219 |
Abstract | This paper presents a mathematical model, linking the classical Markov models for brand switching and models for product life cycles, to forecast competition analysis and market share. This integrated model can be used to forecast market shares of all competitors, and their market shares, including customers retained, customers gained from market growth, and customers gained from competitors over the product life cycle. Such information provides forecasters with valuable insight about their market positions. The model is generic and can be applied to different types of products and services, under different types and patterns of product life cycle curves. A numerical example on a typical mobile telecommunication industry is used to illustrate the application of the proposed approach. |
Keywords | Markov chain; forecasting; product life cycle; market share; competition; brand switching |
ANZSRC Field of Research 2020 | 460902. Decision support and group support systems |
359999. Other commerce, management, tourism and services not elsewhere classified | |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | La Trobe University |
Loddon Mallee Integrated Cancer Service, Australia | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q4q7x/modeling-competition-over-product-life-cycles
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