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Chapter 62: Multi-Logistic Growth Model
During the whole product life cycle (PLC), market capacity changes in hops and resembles a series of stairs (→ Growth models). Immediately after the market capacity change occurs, product adoption starts to follow this new circumstance. A particular set of the following conditions determines market capacity in a specific time frame: product attractiveness, product features, marketing (advertising); product availability (supply); technology improvements, purchase power – product pricing relation and interaction between products on market. Namely, only at the beginning of the product life cycle is there no interaction with other products (regarding market adoption) and therefore its growth may be approximated with simple growth model (see Logistic Growth Models or Bass Model).
In real cases, interaction between different products is evident, ...