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Purchase timing models in marketing: a review

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Abstract

In this work we review various approaches to modeling the purchase behavior of consumers in marketing. Special emphasis is given to the timing of purchases. We also discuss in detail a new approach which models the hazard function in a flexible dynamic way thus yielding self-exciting phenomena. In particular our approach is able to incorporate seasonal and advertising effects and past purchase decisions. The method is applied to panel data for fast moving consumer goods.

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Authors and Affiliations

  1. A.C. Nielsen GmbH, Insterburger Straße 16, 60487, Frankfurt, Germany

    Kai Kopperschmidt

  2. Mathematical Institute, University of Giessen, Arndtstr. 2, 35392, Giessen, Germany

    Winfried Stute

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  1. Kai Kopperschmidt
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  2. Winfried Stute
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Correspondence to Kai Kopperschmidt.

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Kopperschmidt, K., Stute, W. Purchase timing models in marketing: a review. AStA Adv Stat Anal 93, 123–149 (2009). https://doi.org/10.1007/s10182-008-0096-8

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  • DOI: https://doi.org/10.1007/s10182-008-0096-8

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