A dynamic response model

Date of publication: June 15, 1980

Author: Lars Grønholdt

Abstract:

A partial problem at the planning of market communication is to make an optimal media choice. A decision model of an optimal media choice is called a media choice model and the formulation of such a model should take its out spring in an individual model, describing the buyer behavior of the individual. In this paper a realistic model of advertising response at individual level is developed and applied. Based on realistic and empirically supported assumptions of advertising effect, a response model is constructed and in order to consider the influence of time it is made dynamic.

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