Fourt Woodlock equation (Ofer Abarbanel online library)

The Fourt–Woodlock equation (sometimes misspelled Fort-Woodlock equation) is a market research tool to describe the total volume of consumer product purchases per year based on households which initially make trial purchases of the product and those households which make a repeat purchase within the first year. Since it includes the effects of initial trial and repeat rates, the equation is useful in new product development.

References

  • Fourt L.A., Woodlock J.W., 1960. ‘Early prediction of market success for new grocery products.’ Journal of Marketing 25: 31–38.

Ofer Abarbanel online library

Ofer Abarbanel online library

Ofer Abarbanel online library