haku: @indexterm Dynamic programming / yhteensä: 309
viite: 52 / 309
| Tekijä: | Bitran, G. Mondschein, S. |
| Otsikko: | Mailing decisions in the catalog sales industry |
| Lehti: | Management Science
1996 : SEP, VOL. 42:9, p. 1364-1381 |
| Asiasana: | MANAGEMENT DIRECT SELLING DYNAMIC PROGRAMMING |
| Kieli: | eng |
| Tiivistelmä: | Catalog sales are among the fastest growing businesses in the U.S. The most important asset a company in this industry has is its list of customers, called the house list. Building a house list is expensive, since the response rate of names from rental lists is low. Cash management therefore plays a central role in this capital intensive business. This paper studies optimal mailing policies in the catalog sales industry when there is limited access to capital. The authors consider a stochastic environment given by the random responses of customers and a dynamic evolution of the house list. |
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