A STOCHASTIC MODEL OF SALES RESPONSE TO ADVERTISING

Charles S. Tapiero

doi:10.1111/j.1467-999X.1977.tb00571.x

A STOCHASTIC MODEL OF SALES RESPONSE TO ADVERTISING

Charles S. Tapiero^*

^*Corresponding author for this work

BA Business Department

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

A stochastic model of advertising response is developed. It is shown that the evolution of mean sales is equivalent to Vidale‐Wolfe type advertising models and to Stigler's diffusion model. A stochastic framework for advertising is found here to be ideally suited for the estimation of market parameters, for hypothesis testing of advertising models, and for studying the risk implications of an adversiting policy.

Original language	English
Pages (from-to)	159-167
Number of pages	9
Journal	Metroeconomica
Volume	29
Issue number	1-3
DOIs	https://doi.org/10.1111/j.1467-999X.1977.tb00571.x
State	Published - Feb 1977

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10.1111/j.1467-999X.1977.tb00571.x

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abstract = "A stochastic model of advertising response is developed. It is shown that the evolution of mean sales is equivalent to Vidale‐Wolfe type advertising models and to Stigler's diffusion model. A stochastic framework for advertising is found here to be ideally suited for the estimation of market parameters, for hypothesis testing of advertising models, and for studying the risk implications of an adversiting policy.",

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A STOCHASTIC MODEL OF SALES RESPONSE TO ADVERTISING

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