Business, Management and Accounting
3 years ago

Dynamic simulation model predicts winner in fierce product market competition!

˜The œEuropean Proceedings of Social & Behavioural Sciences
Product Market Share Using A Model Of Two Competitors
Olga Vladimirovna Baryshnikova

Paper Summary

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The article discusses a simulation model of two competing products aiming to dominate the market. The model excludes factors like prices and focuses on the market share of the products. By using Powersim Studio, the researchers created a model interface to input data and compare market share graphs. The experiment revealed insights about the products' competition and visualized the process of market share competition.