The Bass diffusion model was developed by Frank Bass and describes the process of how new products get adopted as an interaction between users and potential users. It has been described as one of the most famous empirical generalisations in marketing, along with the Dirichlet model of repeat buying and brand choice. The model is widely used in forecasting, especially product forecasting and technology forecasting. Mathematically, the basic Bass diffusion is a Riccati equation with constant coefficients.
Frank Bass published his paper "A new product growth model for consumer durables" in 1969. Prior to this, Everett Rogers published Diffusion of Innovations, a highly influential work that described the different stages of product adoption. Bass contributed some mathematical ideas to the concept.
This model has been widely influential in marketing and management science. In 2004 it was selected as one of the ten most frequently cited papers in the 50-year history of Management Science. It was ranked number five, and the only marketing paper in the list. It was subsequently reprinted in the December 2004 issue of Management Science.
Read more about Bass Diffusion Model: Model Formulation
Famous quotes containing the words bass and/or model:
“How are we to know that a Dracula is a key-pounding pianist who lifts his hands up to his face, or that a bass fiddle is the doghouse, or that shmaltz musicians are four-button suit guys and long underwear boys?”
—In New York City, U.S. public relief program (1935-1943)
“If the man who paints only the tree, or flower, or other surface he sees before him were an artist, the king of artists would be the photographer. It is for the artist to do something beyond this: in portrait painting to put on canvas something more than the face the model wears for that one day; to paint the man, in short, as well as his features.”
—James Mcneill Whistler (1834–1903)