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
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