TITLE

AN EMPIRICAL COMPARISON OF AWARENESS FORECASTING MODELS OF NEW PRODUCT INTRODUCTION

AUTHOR(S)
Mahajan, Vijay; Muller, Eitan; Sharma, Subhash
PUB. DATE
June 1984
SOURCE
Marketing Science;Summer84, Vol. 3 Issue 3, p179
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In modeling the adoption of a new brand, an analyst may consider a consumer moving through three stages in the process of becoming a customer of the brand. These stages are: awareness, trial and repeat. Since the sales or market share estimates based on trial and repeat are contingent upon the estimates developed for the awareness level, selection of a particular awareness model can influence the predictions. Brand awareness in a target market can be generated by advertising, free samples, coupons, word-of-mouth communication and other marketing activities such as in-store displays. All of these marketing vehicles are awareness generating stimuli. However, the awareness generated is subject to decay due to forgetting over time. The awareness level due to advertising generated in a given time period depends upon the amount of advertising dollars and the quality of the advertising campaign. Finally, the reported results are based on two data sets and, hence, warrant a certain degree of caution concerning the relative performance of the models. Furthermore, inclusion of other awareness stimuli in the respective models may alter the relative performance of the models. However, in spite of these limitations, the results do shed some light on the usage of these models to predict brand awareness.
ACCESSION #
4478237

 

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