Consumer Market - Marketplace & Competition
Application area: Market modeling
Simulation method: Agent Based
A simple model of a consumer market and competition. Consumers (kids) live in five different towns and buy candies. Candies are produced by three competing companies. Each kid has one favorite candy type (and shows a certain band loyalty) but can switch to another type being influenced by other kids, price, promotion actions, or accidentally. Kids can move from one town to another and contact other kids in the same town. The model is designed as a game: you can control the companies’ strategy (pricing and promotion) during the simulation.
The model was created with AnyLogic - simulation software / Market modeling
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