Definition of Logit function:
A function that produces an S-shaped graph, or sigmoid curve, that can be used to describe conditions that change over time. A logit function can describe the assimilation of a new product by customers, capturing the slow initial reaction, rapid acceptance once awareness increases, then the gradual tapering off of new purchases as the market becomes saturated. Also called a logistic function.
Meaning of Logit function & Logit function Definition