Statistical modelling of marketing processes

  • Authors:

  • Zvonko Sajfert;Cari¡a Be¡ic;Dejan Dordevic;Vjekoslav Sajfert

  • Affiliations:

  • Technical Faculty "M. Pupin", Zrenjanin, Djure Djakovica b.b., University of Novi Sad, Serbia;Technical Faculty "M. Pupin", Zrenjanin, Djure Djakovica b.b., University of Novi Sad, Serbia;Technical Faculty "M. Pupin", Zrenjanin, Djure Djakovica b.b., University of Novi Sad, Serbia;Technical Faculty "M. Pupin", Zrenjanin, Djure Djakovica b.b., University of Novi Sad, Serbia

  • Venue:
  • MCBE'07 Proceedings of the 8th Conference on 8th WSEAS Int. Conference on Mathematics and Computers in Business and Economics - Volume 8
  • Year:
  • 2007

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Abstract

Treating number of customers and time as random variables and taking into account binary behaving of customers in shopping, the general expression for marketing distribution is formulated. Binary probabilities are averaged by means of beta distribution. On the basis of the general formula and some of its specifications, the ways of marketing advantages are proposed. Among the advantage approaches the two ones are stressed: maximum-likelyhood-methode combined with transition to new random variable and method of composition of distributions. The application of theoretical results in practice is discussed in detail.