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On Purchase Timing Models in Marketing

Author

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  • Frenk, J.B.G.
  • Zhang, S.

Abstract

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.

Suggested Citation

  • Frenk, J.B.G. & Zhang, S., 1997. "On Purchase Timing Models in Marketing," Econometric Institute Research Papers EI 9720/A, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    • Handle: RePEc:ems:eureir:1411
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    References listed on IDEAS

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    1. Morrison, Donald G & Schmittlein, David C, 1988. "Generalizing the NBD Model for Customer Purchases: What Are the Implications and Is It Worth the Effort? Reply," Journal of Business & Economic Statistics, American Statistical Association, vol. 6(2), pages 165-166, April.
    2. de Kok, A.G., 1991. "Basics of inventory management (Part 1) : Renewal theoretic background," Research Memorandum FEW 510, Tilburg University, School of Economics and Management.
    3. Morrison, Donald G & Schmittlein, David C, 1988. "Generalizing the NBD Model for Customer Purchases: What Are the Implications and Is It Worth the Effort?," Journal of Business & Economic Statistics, American Statistical Association, vol. 6(2), pages 145-159, April.
    4. Fred S. Zufryden, 1977. "A Composite Heterogeneous Model of Brand Choice and Purchase Timing Behavior," Management Science, INFORMS, vol. 24(2), pages 121-136, October.
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    Keywords

    marketing; purchase timing model;

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