Author: Scientific Strategy

MS-195 Repeat Purchases

Shows how to simulate Customers repeatedly buying a single Product from a Category during a single shopping trip. The Law of Diminishing Marginal Utility states that after a Customer purchases a Product they are less likely to purchase the same Product again at the same time. But in this case, while Customers may continue to buy the same Product multiple times, they will not buy a different Product from the same Category. For example, Customers buying non-food consumable Products (such as toothpaste, soap, batteries, or light bulbs) will stock-up by buying only the same Product during a single shopping trip.

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MS-201 Cyclical Market Trend

Simulates the operation of a Market over time. After purchasing a Product, the Customer’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 to again enter the Market and Purchase another Product from the Category.

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