Dynamic Optimal Advertising Expenditure Strategies for Two Successive Generations of High Technology Products

Advertising plays a very important role in drawing consumer attention to new-products and in encouraging early adoptions. The problem of drawing optimal advertising plans for innovations have therefore has received a lot of attention from marketing managers and researchers. But there is need for fur...

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Bibliographic Details
Published inModeling, Computation And Optimization pp. 115 - 136
Main Authors Chanda, Udayan, Bardhan, A. K.
Format Book Chapter
LanguageEnglish
Published WORLD SCIENTIFIC 01.04.2009
Subjects
Optimal advertising expenditure
dynamic optimal control models
strategies
high Technology Products
Online AccessGet full text
ISBN9789814467896
9814273511
9789814273503
9814467898
9789814273510
9814273503
DOI10.1142/9789814273510_0008

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Summary:Advertising plays a very important role in drawing consumer attention to new-products and in encouraging early adoptions. The problem of drawing optimal advertising plans for innovations have therefore has received a lot of attention from marketing managers and researchers. But there is need for further research on problems pertaining to new-products that are part of technological generations. This chapter deals with the determination of optimal advertising expenditure for two-generation consumer durables. The model considers intergenerational diffusion effect and also introduces a framework for modeling innovation diffusion for two competing generations.
ISBN:9789814467896
9814273511
9789814273503
9814467898
9789814273510
9814273503
DOI:10.1142/9789814273510_0008