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.
The management of an industrial enterprise is constantly faced with the problem of deciding how much advertising, selling, or promotional effort is economically justified. A reasonable response to this question implies at least an intuitive knowledge of the relation between sales volume and promotional effort. This paper presents a case study of the development of such a relationship. Operations Research, ISSN 0030-364X, was published as Journal of the Operations Research Society of America from 1952 to 1955 under ISSN 0096-3984.
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