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BB-153 Copycat Features and Strange Differentiation v05

[Building Blocks] BB-153 Copycat Features and Strange Differentiation
Building Blocks (BB-153) - Copycat Features and Strange DifferentiationSimulates a Market in which all Competitors are enhancing their Product so as tocopy the Features and Benefits of all the other Products in the Market that havebeen successful in driving sales. Competitive Story:Spacely Sprockets, Cogswell Cogs, and Jetson Gears have all reached the samelevel of quality and all have equal market shares. To drive further growth, eachCompetitor watches closely the Products that Customers choose to buy. EachCompetitor then enhances their Product so as to be more appealing to thosebuyers. But to do so, each Product needs to more closely copy the Competition. If a Customer buys a Productthen all other Competitors willpersonalize their own Product soit looks more like the PurchasedProduct to that Customer. Repeat the Purchase cycle 10-times and evaluate what the newProducts look like. The Meansincrease but the SDs decrease. Customers become more Pricesensitive and switch to buy thecheapest Product (JetsonGears).Original ProductDefinitionsWillingness ToPay (WTP) MatrixSimulateOriginal MarketImprove Productfor Customers whoPurchased CompetitorBefore Mean / SDDifferentiationAfter Mean / SDDifferentiationNext ProductImprovementCyclePredict NewMarket ShareNext ProductImprovementCycleQuantity Changevs TimeProductQuantitiesQuantity Changevs Time Table Creator CustomerDistributions Simulate Market Scale Purchased Statistics Statistics Recursive LoopStart (2 ports) Simulate Market Recursive LoopEnd (2 ports) Stacked Area Chart Pivoting Line Chart(JFreeChart) Building Blocks (BB-153) - Copycat Features and Strange DifferentiationSimulates a Market in which all Competitors are enhancing their Product so as tocopy the Features and Benefits of all the other Products in the Market that havebeen successful in driving sales. Competitive Story:Spacely Sprockets, Cogswell Cogs, and Jetson Gears have all reached the samelevel of quality and all have equal market shares. To drive further growth, eachCompetitor watches closely the Products that Customers choose to buy. EachCompetitor then enhances their Product so as to be more appealing to thosebuyers. But to do so, each Product needs to more closely copy the Competition. If a Customer buys a Productthen all other Competitors willpersonalize their own Product soit looks more like the PurchasedProduct to that Customer. Repeat the Purchase cycle 10-times and evaluate what the newProducts look like. The Meansincrease but the SDs decrease. Customers become more Pricesensitive and switch to buy thecheapest Product (JetsonGears).Original ProductDefinitionsWillingness ToPay (WTP) MatrixSimulateOriginal MarketImprove Productfor Customers whoPurchased CompetitorBefore Mean / SDDifferentiationAfter Mean / SDDifferentiationNext ProductImprovementCyclePredict NewMarket ShareNext ProductImprovementCycleQuantity Changevs TimeProductQuantitiesQuantity Changevs TimeTable Creator CustomerDistributions Simulate Market Scale Purchased Statistics Statistics Recursive LoopStart (2 ports) Simulate Market Recursive LoopEnd (2 ports) Stacked Area Chart Pivoting Line Chart(JFreeChart)

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Created by: Berlin
Created at: 2018-12-20
On NodePit since: 2021-02-05
Last update: 2024-04-18
Created with KNIME version: v4.3.0

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