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| Author: | Kohli, R. Krishnamurti, R. |
| Title: | A heuristic approach to product design. |
| Journal: | Management Science
1987 : DEC, VOL. 33:12, p. 1523-1533 |
| Index terms: | NEW PRODUCTS DYNAMIC PROGRAMMING HEURISTIC METHODS |
| Language: | eng |
| Abstract: | A dynamic-programming heuristic is described to find approximate solutions to the problem of identifying a new, multi-attribute product profile associated with the highest share-off-choices in a competitive market. The input data consist of idiosyncratic multi-attribute preference functions estimated using conjoint or hybrid-conjoint analysis. In a simulation with real-sized problems, the proposed heuristic strictly dominates an alternative Lagrangian-relaxation heuristic in terms of both computational time and approximation of the optimal solution. |
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