The value of simple models in new product forecasting and customer‐base analysis

Peter S. Fader and Bruce G. S. Hardie

Applied Stochastic Models in Business and Industry, 2005, vol. 21, issue 4‐5, 461-473

Abstract: In this paper, we develop the idea of a ‘simple model’—defined as one that a good business student can build and implement on his/her notebook PC using readily available software. We explore how such models have the potential to bridge the gap between what marketing academics create and what marketing managers seek in a model. We provide specific examples from the areas of new product sales forecasting and customer‐base analysis, using spreadsheet‐based models that provide good forecasts and insights about actual buyer behaviour. Copyright © 2005 John Wiley & Sons, Ltd.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:wly:apsmbi:v:21:y:2005:i:4-5:p:461-473

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