Market growth is fundamental to marketing. Frank Bass's seminal diffusion theory explains growth in new product markets. We develop an analogous theory for established markets exhibiting sporadic growth or intermittent declines.Our theory suggests that market participants repeatedly take...

Good metrics are well-defined formulae (often involving averaging) that transmute multiple measures of raw numerical performance (e.g., dollar sales, referrals, number of customers) to create informative summary statistics (e.g., average share of wallet, average customer tenure). Despite myriad...