Studying Multi-Stage Diffusion Dynamics using Epidemic Modeling Framework

Abstract

Buying process has always carried a two-fold perspective with itself. On one hand, it is important for individuals and on other hand it is equally important for the firms to deliver the perfect need and want to the customer. Amongst this entire process, awareness along with positive motivation towards the product; plays an equally significant role in strategizing the plans for any company. Plenty of models have been proposed and many would be in the pipeline that have talked about the connectivity of these processes and their impact on the final adoption. In the current work, these processes have been studied through the analogy taken from epidemic modelling framework. Furthermore, an approximation method; Range Kutta of 4th order has been utilized to come to a near approximate solution to the otherwise available non-closed form solution. The proposed modelling framework is validated on real-life data sets and the results depict the existence and presence of various stages under consideration.

Keywords

• buying behaviour
• epidemiology
• innovation adoption
• runge-kutta method
• sir-model