Forecasting fluid milk package type with a multigeneration new product diffusion model

A recently introduced multigeneration model, developed for high-technology industries and tested on a high-tech product class, is used to forecast use of three generations of packaging technology in the fluid milk market: glass, paperboard cartons, and plastic. Results show that the model can be successfully applied to industries not usually associated with high technology, and to specific markets, rather than across a whole product class. The model is extended by incorporating pricing, which brings about slight improvements in already good forecasts