Innovation diffusion model based on advertising expenditure with change-point

Shiva (), Neetu Gupta () and Anu G. Aggarwal ()
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Shiva: J. C. Bose University of Science and Technology, YMCA
Neetu Gupta: J. C. Bose University of Science and Technology, YMCA
Anu G. Aggarwal: University of Delhi

International Journal of System Assurance Engineering and Management, 2024, vol. 15, issue 5, No 14, 1794-1801

Abstract: Abstract This research focuses on the role of advertising expenditure in determining the success of a product and its impact on the rate of product sales. We introduce the concept of change-point, which considers fluctuations in the adoption rate due to shifts in advertising strategies and competitor dynamics. The product diffusion models incorporating advertising expenditure and change-points are proposed and validated using two real-world product advertising and sales datasets. The models’s accuracy and applicability has been assessed through $$R^2$$ R 2 (coefficient of determination) and mean square error (MSE). By investigating the relationship between advertising expenditure, change-point, and product sales, this study provides valuable insights for marketing and advertising strategies, aiding in better decision-making processes.

Keywords: Change-point; Innovation diffusion model; Advertising expenditure; Weibull function (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13198-023-02109-6

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