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An integrated market simulation model for the design of new products

Matsatsinis Nikolaos, Tsafarakis, Stelios, 1977-, Doulamis, Anastasios

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Extent5 pagesen
TitleAn integrated market simulation model for the design of new productsen
CreatorMatsatsinis Nikolaosen
CreatorΜατσατσινης Νικολαοςel
CreatorTsafarakis, Stelios, 1977-en
CreatorDoulamis, Anastasiosen
PublisherInstitute of Electrical and Electronics Engineersen
Content SummaryMarket simulators assist managers in product design and pricing decisions, through advanced heuristic algorithms for consumer buying behavior modeling. We propose a model for use in such systems, which combines the effective incorporation of the two critical properties a simulator should theoretically reflects, with exceptionally performance in actual choice shares estimation. Differential Impact and Substitution are exhibited through the representation of customer heterogeneity and product similarity in the choice rule, while high predictive accuracy is displayed with the implementation of the Stochastic Logarithmic Search algorithm.en
Type of ItemΠλήρης Δημοσίευση σε Συνέδριοel
Type of ItemConference Full Paperen
Date of Item2015-11-04-
Date of Publication2008-
Bibliographic CitationS. Tsafarakis, A. Doulamis, N.F. Matsatsinis ,"An integrated market simulation model for the design of new products," in 2008 Intern. Conf. Engineering Manag. (IEMC) ,pp.1-5.doi:10.1109/IEMCE.2008.4617951en