Changes

One of the most important functions during the launch of a new product is to forecast the demand for that product, as it guides many other critical decisions faced by the company. Companies can schedule their production activities once they have an idea about the demand in the coming months or years. At a high level, Bass Diffusion Model is used to determine the shape of the curve representing the cumulative adoption of the new product. Bass describes the individuals who decide to adopt an innovation independently of the actions of others as ''innovators''. Those who respond to the influences of the social system and obtain information about a new product from those who have already adopted the product are termed as ''imitators''.

'''Some of the terms used in the model are:'''<br>

[[Image:bass-terms.jpg|center|600px]]

'''Three key parameters used in the Bass Diffusion Model are:'''<br>

[[Image:bass-parameters.jpg|center|600px]]

'''Some of the formulas used are:'''<BR>

[[Image:bass-formulas.jpg|center|600px]]

[[Image:bass-equations.jpg|center|600px]]