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MS-222 Promotion Saturation v03

Workflow

[Market Simulation] MS-222 Promotion Saturation

[Market Simulation] MS-222 Promotion Saturation

Customers are initially unaware of a new Product or Service. But awareness improves after repeated promotional campaigns until saturation approaches and the value Customers place upon the new Product will start to peak.

Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition

A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website:
https://scientificstrategy.com/ms-222/

Market Simulation (MS-222) - Promotion SaturationCustomers are initially unaware of a new Product or Service. But awarenessimproves after repeated promotional campaigns until saturation approachesand the value Customers place upon the new Product will start to peak. Competitive Story:Spacely Sprockets was not always the success it is today. In the early days of thecompany, Customers were unaware of the potential value sprockets could provide.Spacely needed to continuously promote his product to raise Customerawareness. Each year that Spacely improved awareness, he estimated thatindividual Willingness To Pay (WTP) increased by 10% towards each Customer'smaximum. But as Customer awareness grew, the marginal contribution ofSpacely's awareness campaigns towards profitability started to diminish. In the beginning, Customer WTPfor Spacely Sprockets was lowand varied widely. But raisingawareness could only increaseWTP to a maximum level. Each year, Spacely's awarenesscampaigns increased CustomerWTP by 10% towards themaximum level. Spacely wants to run hisawareness campaigncontinuously (iteratively) for thenext 25 years. Loop back with theimproved WTP values. Compare the Profit from eachyear with the Profit from theprevious year. Profit Growthrapidly increases before steadilydeclining.Current WTPMaximum WTPCustomerWTP MatrixSpacelySprocketsPredictResultsRaise AwarenessTo MaximumNextWTPNext WTPRaised AwarenessGet SpacelyResultsCompare ProfitLast IterationProfitGrowthPlot ProfitGrowth Table Creator (#1) CustomerDistributions (#2) Table Creator (#3) SimulateMarket (#6) Scale Demographic(#7) Recursive LoopStart (#8) RecursiveLoop End (#9) Row Filter (#10) Lag Column (#11) Math Formula (#12) Line Chart(JFreeChart) (#13) Market Simulation (MS-222) - Promotion SaturationCustomers are initially unaware of a new Product or Service. But awarenessimproves after repeated promotional campaigns until saturation approachesand the value Customers place upon the new Product will start to peak. Competitive Story:Spacely Sprockets was not always the success it is today. In the early days of thecompany, Customers were unaware of the potential value sprockets could provide.Spacely needed to continuously promote his product to raise Customerawareness. Each year that Spacely improved awareness, he estimated thatindividual Willingness To Pay (WTP) increased by 10% towards each Customer'smaximum. But as Customer awareness grew, the marginal contribution ofSpacely's awareness campaigns towards profitability started to diminish. In the beginning, Customer WTPfor Spacely Sprockets was lowand varied widely. But raisingawareness could only increaseWTP to a maximum level. Each year, Spacely's awarenesscampaigns increased CustomerWTP by 10% towards themaximum level. Spacely wants to run hisawareness campaigncontinuously (iteratively) for thenext 25 years. Loop back with theimproved WTP values. Compare the Profit from eachyear with the Profit from theprevious year. Profit Growthrapidly increases before steadilydeclining.Current WTPMaximum WTPCustomerWTP MatrixSpacelySprocketsPredictResultsRaise AwarenessTo MaximumNextWTPNext WTPRaised AwarenessGet SpacelyResultsCompare ProfitLast IterationProfitGrowthPlot ProfitGrowthTable Creator (#1) CustomerDistributions (#2) Table Creator (#3) SimulateMarket (#6) Scale Demographic(#7) Recursive LoopStart (#8) RecursiveLoop End (#9) Row Filter (#10) Lag Column (#11) Math Formula (#12) Line Chart(JFreeChart) (#13)

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Nodes

MS-222 Promotion Saturation v03 consists of the following 11 nodes(s):

Plugins

MS-222 Promotion Saturation v03 contains nodes provided by the following 4 plugin(s):