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MS-201 Cyclical Market Trend v05

[Market Simulation] MS-201 Cyclical Market Trend
Market Simulation (MS-201) - Cyclical Market TrendSimulates the operation of a Market over time. After purchasing a Product, theCustomer's demand for that Product drops. But their Willingness To Pay(WTP) will then start to creep up until it is necessary for the Customer toagain enter the Market and Purchase another Product from the Category. Competitive Story:This Market Simulation models the market trend for jeans. Customers leave theMarket after purchasing a pair of jeans as their demand for all jeans will drop.However over time the Customer's WTP will increase to the point where they willonce again want to buy another pair of jeans. The rate of increase is different forevery Customer. The emergent behavior of the whole Market appears cyclical. Define the Willingness To Pay(WTP) of 8 x Jeans Brands. When plotting the number ofsales each Iteration a cyclicalpattern emerges. Loop through the Market to buildup a Purchase Trend. There are30 Iterations in this Loop. If a Customer purchased anyProduct then zero their WTP forall Products in the Category. Gradually shift each CustomersWTP back up towards theirMaximum value for each Product. Count the total number ofProduct sales each Iteration.JeanBrandsCurrentWTP MatrixMaximumWTP RatioRate ofDemand IncreaseCalculateMaximum WTPTrackCustomerNext MarketIterationCalculateBuyersIf PurchasedZero DemandTop = Current WTPBottom = Max WTPShift WTP ofJeans to MaxLoop NextMarket IterationExcludeNo SaleCount SalesEach IterationPlot IterationSalesExcludeFirst IterationProductsOnlyAll WTPColumns Table Creator CustomerDistributions CustomerDistributions CustomerDistributions Math Formula(Multi Column) RowID RecursiveLoop Start Simulate Market Scale Purchased Column Splitter Java Snippet Recursive Loop End Row Filter GroupBy Line Chart(JFreeChart) Row Filter Row Filter Column Appender Market Simulation (MS-201) - Cyclical Market TrendSimulates the operation of a Market over time. After purchasing a Product, theCustomer's demand for that Product drops. But their Willingness To Pay(WTP) will then start to creep up until it is necessary for the Customer toagain enter the Market and Purchase another Product from the Category. Competitive Story:This Market Simulation models the market trend for jeans. Customers leave theMarket after purchasing a pair of jeans as their demand for all jeans will drop.However over time the Customer's WTP will increase to the point where they willonce again want to buy another pair of jeans. The rate of increase is different forevery Customer. The emergent behavior of the whole Market appears cyclical. Define the Willingness To Pay(WTP) of 8 x Jeans Brands. When plotting the number ofsales each Iteration a cyclicalpattern emerges. Loop through the Market to buildup a Purchase Trend. There are30 Iterations in this Loop. If a Customer purchased anyProduct then zero their WTP forall Products in the Category. Gradually shift each CustomersWTP back up towards theirMaximum value for each Product. Count the total number ofProduct sales each Iteration.JeanBrandsCurrentWTP MatrixMaximumWTP RatioRate ofDemand IncreaseCalculateMaximum WTPTrackCustomerNext MarketIterationCalculateBuyersIf PurchasedZero DemandTop = Current WTPBottom = Max WTPShift WTP ofJeans to MaxLoop NextMarket IterationExcludeNo SaleCount SalesEach IterationPlot IterationSalesExcludeFirst IterationProductsOnlyAll WTPColumnsTable Creator CustomerDistributions CustomerDistributions CustomerDistributions Math Formula(Multi Column) RowID RecursiveLoop Start Simulate Market Scale Purchased Column Splitter Java Snippet Recursive Loop End Row Filter GroupBy Line Chart(JFreeChart) Row Filter Row Filter Column Appender

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Created by: Berlin
Created at: 2018-11-29
On NodePit since: 2021-02-05
Last update: 2024-04-27
Created with KNIME version: v4.3.0

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