Modeling Multi-generational Product Adoption Based on Competition within & between Brands

The success of the product is measured by the satisfaction perceived by customers. New amendments, addition of new features, necessary rectifications or changes are considered and performed by manufactures only when the product is liked by its customers and can make satisfied in future as well. In the present proposal, we have discussed a mathematical modeling framework for a successive generational product launched into the marketplace and analyzed how customers' satisfaction influences the sales of the products that incorporates the competitive effect as well. In this study, competition is studied under two broad categories together such as: - 1) Competition within Brand and) Competition between Brands.