Multi-stage multi-generation based product adoption: An analysis using numerical methods}

  • Deepti Aggrawal USME, Delhi Technilogical University, East Delhi Campus, India
  • Adarsh Anand Department of Operational Research, University of Delhi, Delhi, India
  • Hitesh Kumar Department of Operational Research, University of Delhi, Delhi, India
  • Ompal Singh Department of Operational Research, University of Delhi, Delhi, India
  • Indarpal Singh Department of Mathematics, Delhi College of Arts and Commerce, University of Delhi, India

Abstract

In Today’s neck-to-neck competitive environment, every firm plans to launch a successive version of its product on a frequent basis. This process has been widely studied in recent past and many proposals can be seen in literature. Also, plenty of works are available with respect to multi-stage diffusion dynamics. However, very less attention has been given to the theme wherein, both these aforesaid concepts have been studied together. This study is an attempt to model the both concept under one canopy. Furthermore, due to non-availability of closed form solutions, authors have utilized a well-known numerical method technique of Runge-Kutta for the analytical part. Real life sales data for two technological products have been utilized. Result obtained are very encouraging.

Published
2024-05-23