An application of microsimulation modelling to the marketing of a consumer durable

Date of publication: June 15, 1976

Abstract:

Philips pursue a policy of systematically evaluating new methodology for improving the Company's marketing decisions. Marketing models of several types have been developed, especially using regression techniques on time series data. However, ranch methods are limited by the availability of data and do not always give marketing management sufficient flexibility to test out the consequences of alternative marketing strategies. The development of methodology for the micro-behavioural, simulation of consumer choice-making seemed to provide the potential for improving the Company's ability to understand its marketing effort.

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