Optimal Multiple-Objective Marketing Strategies

Brand managers often design strategies to achieve multiple objectives, but how managers choose among alternatives and consequently how multiple objectives should be incorporated into models of marketing strategy have received little attention. This paper explores the incorporation of multiple object...

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Bibliographic Details
Published inMarketing letters Vol. 3; no. 4; pp. 383 - 393
Main Authors Bell, Stephen S., Carpenter, Gregory S.
Format Journal Article
LanguageEnglish
Published Kluwer Academic Publishers 01.10.1992
Subjects
Brands
Consumer spending
Economic competition
Market prices
Market share
Marketing
Marketing strategies
Modeling
Pricing strategies
Sponsored search
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Summary:Brand managers often design strategies to achieve multiple objectives, but how managers choose among alternatives and consequently how multiple objectives should be incorporated into models of marketing strategy have received little attention. This paper explores the incorporation of multiple objectives into models of optimal marketing strategies. We focus on one marketing strategy issue, defensive marketing strategy, and develop a multi-objective marketing strategy model. We derive optimal changes in price and advertising spending given the defending brand's multiple objectives. Our analysis produces new descriptive insights about the links between decision making and competition, as well as new insights into defensive marketing strategy. We also discuss the potential for future work along these lines and extensions in other areas of marketing strategy.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0923-0645
1573-059X
DOI:10.1007/BF00993922