MATHEMATICAL MODELS IN MARKETING AND CONSUMER BEHAVIOR: A COMPREHENSIVE REVIEW

Norazryana Binti Mat Dawi, Hamidreza Namazi, Namita Gupta, Martin Matejicek and Petra Maresova
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Norazryana Binti Mat Dawi: Faculty of Informatics and Management, University of Hradec KralovÃ©Ì , Rokitanského 62, 500 03 Hradec Králové III, Czech Republic
Hamidreza Namazi: Faculty of Informatics and Management, University of Hradec KralovÃ©Ì , Rokitanského 62, 500 03 Hradec Králové III, Czech Republic†Research Center, Skoda Auto University, Na Karmeli 1457, 293 01 MladáBoleslav, Czech Republic‡Biomedical Signal and Image Processing Lab, Department of Biomedical Sciences, School of Biosciences and Technology, Galgotias University, Greater Noida, Gautam Buddh Nagar 203201, Uttar Pradesh, India
Namita Gupta: �School of Business, Galgotias University, Greater Noida, Gautam Buddh Nagar 203201, Uttar Pradesh, India
Martin Matejicek: Faculty of Informatics and Management, University of Hradec KralovÃ©Ì , Rokitanského 62, 500 03 Hradec Králové III, Czech Republic
Petra Maresova: Faculty of Informatics and Management, University of Hradec KralovÃ©Ì , Rokitanského 62, 500 03 Hradec Králové III, Czech Republic

FRACTALS (fractals), 2025, vol. 33, issue 05, 1-12

Abstract: Mathematical models are essential tools in analyzing and forecasting the consumer behavior, helping to shape marketing strategies and contribute to business growth. This paper reviews the wide range of mathematical models used in the study of marketing and consumer behavior, covering the topics such as consumer choice theory, brand preferences, pricing tactics, and market segmentation. By examining the theoretical concepts, practical implementations, and real-world examples, the review emphasizes the role these models play in understanding the complex consumer actions and supporting strategic decision-making. Additionally, the paper discusses new trends, obstacles, and potential future developments in the use of mathematical models within marketing and consumer behavior, pointing to the areas for further innovation and progress.

Keywords: Mathematical Models; Consumer Behavior; Marketing Strategies; Business Success; Market Segmentation; Emerging Trends (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1142/S0218348X25300041

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