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Customer Behavior As a Markov Process

Author

Listed:
  • Jerome D. Herniter

    (Arthur D. Little, Inc., Cambridge, Massachusetts)

  • John F. Magee

    (Arthur D. Little, Inc., Cambridge, Massachusetts)

Abstract

Simple Markov processes appear to provide a fruitful conceptual basis for study of customer populations in the face of marketing activity. The purpose of this paper is to summarize characteristics and some implications and applications of the Markov model. Characteristic behavior of the model is compared with published data, and areas for further analytical and experimental effort are indicated.

Suggested Citation

  • Jerome D. Herniter & John F. Magee, 1961. "Customer Behavior As a Markov Process," Operations Research, INFORMS, vol. 9(1), pages 105-122, February.
    • Handle: RePEc:inm:oropre:v:9:y:1961:i:1:p:105-122
    DOI: 10.1287/opre.9.1.105
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    Cited by:

    1. Michael Löffler & Reinhold Decker, 2012. "Identifikation und praktische Nutzung von Mustern des Aufwärtskonsums," Schmalenbach Journal of Business Research, Springer, vol. 64(7), pages 722-746, November.

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