September 2024

Bass Model Forecasting

Bass Model Forecast

The Bass diffusion model predicts the timing of new product purchases by assuming that the probability of purchase depends on the number of previous buyers.
It uses coefficients for innovative and imitative behavior to predict the adoption of consumer durables, among other products.
Innovation coefficient
(p): Represents the influence of external factors on product adoption.
Imitation coefficient
(q) : Represents the influence of previous adopters on potential adopters.
Total potential market (m): The total number of potential adopters of the product.

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Sensory analysis in marketing

Sensory analysis in marketing: Discover how your senses influence your purchases!

Have you ever wondered how the crunch of a potato chip or the scent of a shampoo influences your purchasing decisions?
Welcome to the fascinating world of sensory analysis in marketing!
In this article, we’ll explore how companies use our senses to create irresistible products and memorable marketing campaigns.
Fasten your seatbelts, it’s going to be a sensory journey!

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