Department of Management
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Item Stage wise Innovation Diffusion with a Dynamic Market(Bloomsbury India, 2016) Chanda, UdayanItem A model for adoption of successive generations of a high technology product(Inder Science, 2007) Chanda, UdayanModelling the new product sales growth and forecasting future sales has been an important area of research in Marketing Science. Models have been proposed to map the consumer buying behaviour against explanatory variables such as price, promotional effort, quality, time, etc. In comparison, high technology products have received less attention. These products usually have many generations, each succeeding generation being an improvement over the previous one. This paper discusses some well-known models in this area and also proposes a new one. The new model uses the relationship between the repeat purchasers and the new purchasers in the overall diffusion of a new technology over multiple generations, by separately identifying the two types of adopters. This model has been validated on sales-data and has also been compared to an established model.Item A study of the diffusion parameters and marketing decision variables for a family of technological innovations(Inder Science, 2008) Chanda, UdayanBusiness organisations introduce new products in the market to beat competition and increase profit. For high-technology products, continuous innovations promise better performance, feature enhancements and quality improvement. Often, consecutive technology generations compete in the market, which calls for synergistic decision-making on marketing variables. At around the time of its introduction, the time path of prices for two competing technologies can show interesting patterns vis-a-vis their sales. It is important to understand the influence of marketing variables on consumer psychology to predict the adoption process of new technology. This paper focuses on studying the relative changes in diffusion parameters and marketing decision variables through sales models developed for multiple-generation productsItem A mathematical model for diffusion of products with multiple generations(Inder Science, 2009-01) Chanda, UdayanModelling the new product sales growth and forecasting the future over the product life-cycle has been an important area of research in Marketing. Many models on this topic have also been extended for describing the diffusion of products having multiple technological generations. But factors influencing diffusion of such products are very distinctive and therefore the modelling approach needs to be different. This paper proposes a model that improves upon some well-know models to study the sales growth of successive generation of products. The model has been validated on a sales-data and has also been compared with an established model.Item Determining adoption pattern with pricing using two-dimensional innovation diffusion model(Elsevier, 2010) Chanda, UdayanStudying the dynamics of the technology diffusions under the key determinants that influence the adoption of a technology across time and/or space into the market is crucial to assess the business case for new technologies. The topic diffusion has been widely studied by researchers from different disciplines, including Sociology, Economics, Psychology and Marketing. However a substantial amount of research has been focused on one dimension: either to examine the individual's adoption of an innovation or to explain the time path of adoption of technologies typically follows an S-shaped curve. The other dimensions of the diffusion of an innovation, has gained less attention. In this paper, we derive a two-dimensional technology diffusion innovation model which combines the adoption time of technological diffusion and price of the technology product. In the proposed model technological adoptions and the role of other dimensions are explicitly taken into consideration by using the classical Cobb–Douglas production function. The model is based on two main assumptions: the rate of adoption growth decreases in price and that there is diminishing returns to time because initial market size is fixed. The proposed model is also validated on a number of datasets and compared with established models. The empirical analysis shows that the model performs better than other one-dimensional diffusion model in terms of parameter estimation and model validity.Item Economic order quantity model on inflationary conditions with demand influenced by innovation diffusion criterion(Inder Science, 2012) Chanda, UdayanIn this paper, an inventory model has been proposed based on the explicit assumptions of interaction of marketing parameters to the optimal inventory replenishment policy. This study applies the discounted cash flow (DCF) approach for the analysis of the replenishment problem over a finite planning horizon. The demand rate is a function of time and is assumed to be driven by innovation diffusion process. In addition, a numerical example is performed justifying the need of incorporating the effect of innovation along with the effect of inflation on the optimal inventory replenishment. Sensitivity analysis is also performed to discuss the effectiveness of the proposed framework.Item Economic order quantity model under fuzzy sense with demand follows Bass’s innovation diffusion process(Inder Science, 2013-08) Chanda, UdayanThe economic order quantity (EOQ) model is usually not paid attention to make the model more realistic. The realistic EOQ model can bring a significant change while evaluating the profit and loss of any organisation. In this paper a mathematical model has been developed for obtaining the EOQ in which the demand of the product is assumed to follow an innovative imitative behaviour as proposed by Bass (1969). The theory of innovation-diffusion has been incorporated in this model. To make the model more realistic an attempt has been made to solve the model in light of fuzzy set theory under the trapezoidal membership function. The coefficient of innovation, the coefficient of imitation and the inventory carrying cost is assumed to be fuzzy numbers with trapezoidal membership function. By the median rule of defuzzification, total cost formula has been derived in the fuzzy sense in order to obtain the optimal order quantity. The effectiveness of this model is illustrated with a numerical example and sensitivity analysis of the optimal solution with respect to different parameters of the system is performed.Item Economic order quantity model for new product under fuzzy environment where demand follows innovation diffusion process with salvage value(Inder Science, 2016-05) Chanda, UdayanDiffusion pattern of new products have been well-documented in literature but research on integration of growth model and inventory policies are still scarce. Globalisation and technological breakthroughs' are creating significant risks of obsolescence at the product level. This calls for integration of diffusion dynamics in formulation of economic ordering policies for technology products. Unfortunately, most of the diffusion models available in literature do not recognise uncertainty in diffusion parameters, making it difficult to use in inventory-models. Here, we propose an economic order quantity model using fuzzy logic for new product where demand rate follows innovation diffusion process. Effect of deterioration is incorporated by considering the salvage value in the cost component. The comprehensive sensitivity analysis with respect to different parameters has also been performed to illustrate the effectiveness and behaviour of the model.Item Optimisation of fuzzy EOQ model for advertising and price sensitive demand model under dynamic ceiling on potential adoption(Taylor & Francis, 2016-02) Chanda, UdayanMarketing strategies such as advertising and pricing can play an important role in the acceptance of technology products by consumers. This phenomenon indicates that diffusion of technology products in the society may have strong linkages with unit selling price and advertisement effort. Therefore, management should sincerely reflect on pricing and advertising strategy during formulation of the inventory policies. This paper aims to develop an economic order quantity model for finding strategy for a firm that sells technology products' over a finite planning horizon. Demand is considered to follow a lifecycle phenomenon with dynamic ceiling on the potential adoptions and sensitive to advertising expenditure and unit selling price. The fuzzy criterion has also been incorporated to address the problems of uncertain nature of marketing parameters. The model is illustrated with a numerical example and a comprehensive sensitivity analysis of the optimal solution with respect to different parameters has also been performed.Item Fuzzy EOQ model of a high technology product under trial-repeat purchase demand criterion(Taylor & Francis, 2017-11) Chanda, UdayanAccurate prediction and knowledge of adoption pattern is critical to formulate inventory strategies for any technology product. Prior researches in this area recommended that aggregate level demand models often forecast imprecise sales figure. We argue that it is essential to recognize the technology specific adoption dynamics prior to formulate the inventory strategies. This paper aims to develop an Economic Order Quantity (EOQ) model to find strategy for a firm that sells technology products’ over a defined planning horizon. Demand is considered to follow trial-repeat purchase phenomenon. The fuzzy criterion is incorporated to address the problems of uncertain nature of marketing parameters. The model is illustrated with a numerical example and a comprehensive sensitivity analysis on the optimal solution with respect to different parameters has also been performed.