Optimal Control of Advertising based on a Micro-Level Diffusion Model

This paper deals with the determination of optimal advertising strategies for micro-level models. We analyze the adoption behavior of consumers in risk-sensitive markets, and applying Bayes decision theory to innovation diffusion process develops the aggregated diffusion models of durable goods. Con...

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Bibliographic Details
Published in2008 IEEE International Symposium on Knowledge Acquisition and Modeling Workshop pp. 1076 - 1078
Main Authors Haixing Yan, Yanmin Cheng
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.12.2008
Subjects
Advertising
component
Decision theory
diffusion of innovation
Diffusion processes
Educational institutions
marketing
Marketing and sales
Mathematical model
Optimal control
Risk analysis
Sun
Technological innovation
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Summary:This paper deals with the determination of optimal advertising strategies for micro-level models. We analyze the adoption behavior of consumers in risk-sensitive markets, and applying Bayes decision theory to innovation diffusion process develops the aggregated diffusion models of durable goods. Considering effectiveness of information transmitted by advertisement and adopters, the optimal control policies of advertising are conducted according to the optimal control theory.
ISBN:1424435307
9781424435302
DOI:10.1109/KAMW.2008.4810679