MATHEMATICAL MODELS IN MARKETING AND CONSUMER BEHAVIOR: A COMPREHENSIVE REVIEW

Abstract

Mathematical models are essential tools in analyzing and forecasting the consumer behavior, helping to shape marketing strategies and contribute to business growth. This paper reviews the wide range of mathematical models used in the study of marketing and consumer behavior, covering the topics such as consumer choice theory, brand preferences, pricing tactics, and market segmentation. By examining the theoretical concepts, practical implementations, and real-world examples, the review emphasizes the role these models play in understanding the complex consumer actions and supporting strategic decision-making. Additionally, the paper discusses new trends, obstacles, and potential future developments in the use of mathematical models within marketing and consumer behavior, pointing to the areas for further innovation and progress. © 2025 The Author(s).