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| Author: | Dockner, E. Jorgensen, S. |
| Title: | Optimal advertising policies for diffusion models of new product innovation in monopolistic situations. |
| Journal: | Management Science
1988 : JAN, VOL. 34:1, p. 119-130 |
| Index terms: | NEW PRODUCTS DIFFUSION MONOPOLY ADVERTISING |
| Language: | eng |
| Abstract: | In the last 15-20 years there has been a growing interest in applying methods of dynamic optimization to marketing problems, cast in the framework of sales response models or diffusion models of new product innovation. Optimal advertising strategies for new product diffusion models are determined. The introduction of a new consumer durable in a monopolistic market is considered and the evolution of sales is modelled by a flexible diffusion model. There is qualitatively characterized the structure of an optimal advertising strategy for different versions of the diffusion model. |
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