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Home→The Westburn Dictionary of Marketing→G→Gompertz function

Gompertz function

Definition:
Named after the English actuary and mathematician, Benjamin Gompertz (1779-1865) and used to describe growth process (e.g. trends in time-series) where the rate of growth is small at first, increases over a period and then slows down as a limit is approached. It is expressed in the following form: Y = Ka bx where a, b and K are constants and where 0

Cross-References:
[product life cycle (PLC) concept]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [George Avlonitis],.