Alternate Bass Model Formula




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Sam, UK

Alternate Bass Model Formula

The Bass model can (I think) be written as:
New Cust =
Innovation * (Population - Customers) +
Immitation * Customers +
Imitation * (Customers * Customers) / population.
It is easy to explain the first two terms in lay terms but can someone provide a layman's explanation of the third term?

   

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