On Purchase Timing Models in Marketing
January 1997
Research Paper
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In this paper we consider stochastic purchase timing models used in marketing for low-involvement products and show that important characteristics of those models are easy to compute. As such these calculations are based on an elementary probabilistic argument and cover not only the well-known condensed negative binomial model but also stochastic purchase timing models with other interarrival and mixing distributions.
Keywords
Automatically Extracted Terms
- distribution
- t 0 g
- model
- process
- purchase
- parameter
- scale parameter 0
- purchase timing model
- timing
- prfbt
- renewal
- scale
- erlang-
- renewal process
- interarrival
- purchase timing models
- poisson process
- variable
- poisson
- purchase timing process
