Chaos theory and the dynamics of marketing systems
Brynn Hibbert, Ian F. Wilkinson
Journal of the Academy of Marketing Science · 1994 · Volume 22 · Issue 3
Abstract
Chaos theory is not well understood or appreciated in marketing, yet it offers a way of improving understanding of marketing systems. A brief introduction to chaos theory is given. Its relevance to marketing is then illustrated through a discussion of different types of marketing models that can result in complex dynamics, including chaos. Next, techniques for detecting the presence of chaos in the behavior of real systems are reviewed. Finally, the implications of chaos theory for marketing theory and practice are discussed.
Keywords
Marketing, Market Share, Lyapunov Exponent, Complex Dynamic, Chaos Theory
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