Advertising and production of a seasonal good for a heterogeneous market

Favaretto, Daniela; Viscolani, Bruno

doi:10.1007/s10288-009-0103-2

Cited by 8 publications

(4 citation statements)

References 18 publications

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“…This qualitative result is in agreement with those obtained in [5], for seasonal products. The feature that the advertising efforts are decreasing is shared also by the results obtained in [8], although there the main motivation is the word-of-mouth communication process coupling the advertising one.…”

Section: Constraints On Medium Activation Levels Only -Linear Demandsupporting

confidence: 92%

“…A social event may be considered as a special kind of seasonal product, and the results presented in this paper complement the analysis done by [5]. In that paper the effect of advertising on each segment goodwill was represented by a strictly concave function of the effective advertising effort, and the demand in each segment was represented by a linear function of segment goodwill.…”

Section: Introductionmentioning

confidence: 58%

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Advertising a social event in a heterogeneous market

Favaretto

Grosset

Viscolani

2016

Journal of Interdisciplinary Mathematics

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We study the problem of advertising a social event in a segmented market using different media. The result of such advertising process is the evolution of a goodwill vector. We describe the problem as an optimal control one, assuming that the demand is a concave function of goodwill. We prove the existence of an optimal solution and characterize it using the Pontryagin Tel.: +39-049-8271397, Fax: +39-049-8271479 E-mail: viscolani@math.unipd.it 2 D a n i e l a F a v a r e t t o e t a l . ming problems. We provide a more explicit and detailed description of optimal solutions for the case of goodwill linear demand.

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Section: Constraints On Medium Activation Levels Only -Linear Demandsupporting

confidence: 92%

Section: Introductionmentioning

confidence: 58%

Advertising a social event in a heterogeneous market

Favaretto

Grosset

Viscolani

2016

Journal of Interdisciplinary Mathematics

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“…Grosset and Viscolani [14] considered the advertising issues in the competitive environment. Favaretto and Viscolani [8] provided an optimal advertising strategy and optimal production quantity for a seasonal good in a heterogeneous market.…”

Section: Introductionmentioning

confidence: 99%

A dynamic advertising model with reference price effect

Zhang

2015

RAIRO-Oper. Res.

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This paper develops an advertising model in which goodwill affected by advertising effort has a positive effect on reference price and market demand. In a finite planning horizon, the optimal advertising strategy is provided by solving the optimization problem on the basis of Pontryagin's maximum principle, then the optimal sales price is obtained through one time pricing strategy. Furthermore, we extend this problem to an infinite planning horizon and present the corresponding optimal strategies. In addition, the relationships between system parameters and optimal solutions are analyzed. Numerical examples are employed to illustrate the effectiveness of the theoretical results, and to assess the sensitivity analysis of system parameters on the optimal strategies.

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“…Nair and Narasimhan (2006) have developed a model which studies the effect of factors like advertising and product quality on the formation of goodwill. The problem of advertising and production for a seasonal product in a segmented market incorporating the concept of goodwill, has been taken up by Favaretto and Viscolani (2010). An optimal control model of product goodwill is given by Gorajski and Machowska (2017).…”

Section: Introductionmentioning

confidence: 99%

Dynamic Advertising-based Goodwill Incorporating Fuzzy Environment in Segment-Specific Market

Kumar

Chaudhary

Kumar

et al. 2023

Int. j. math. eng. manag. sci.

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A new product's introduction to the market is greatly influenced by effective and enough advertising. In this paper, we have considered a problem in which the firm partitions the market into various segments to reduce costs associated with advertising and targets to maximize the total profit. By integrating single channel and differentiated advertising to segmented market, we extend Nerlove-goodwill Arrow's dynamic model in which advertising variables are control variables. It is assumed that the whole available budget is imprecise and fuzzy in nature in order to create a realistic model. Using necessity and possibility constraints, the optimal control model with fuzzy parameters is transformed into crisp form, and the Pontryagin Maximum principle is then used to solve the problem. Numerical examples are provided to support the theoretical analysis.

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Advertising and production of a seasonal good for a heterogeneous market

Cited by 8 publications

References 18 publications

Advertising a social event in a heterogeneous market

Advertising a social event in a heterogeneous market

A dynamic advertising model with reference price effect

Dynamic Advertising-based Goodwill Incorporating Fuzzy Environment in Segment-Specific Market

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