An agent-based simulation approach for the new product diffusion of a novel biomass fuel

Marketing activities support the market introduction of innovative goods or services by furthering their diffusion and, thus, their success. However, such activities are rather expensive. Managers must therefore decide which specific marketing activities to apply to which extent and/or to which target group at which point in time. In this paper, we introduce an agent-based simulation approach that supports decision-makers in these concerns. The practical applicability of our tool is illustrated by means of a case study of a novel, biomass-based fuel that will likely be introduced on the Austrian market within the next 5 years.

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