An evolutionary algorithm approach to the share of choices problem in the product line design

Alexouda, Georgia

doi:10.1016/s0305-0548(03)00173-4

Cited by 24 publications

(18 citation statements)

References 16 publications

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“…Beam search, which was originally developed for artificial intelligence applications, has been used in scheduling since the late 1980s to give good approximate solutions to the early/tardy problem [34][35][36], job shop scheduling [37][38][39], project scheduling [40], assembly-line balancing [41,42], product line design [43][44][45] and numerous other applications. Since beam search limits the generation of the search tree to a predetermined number of the most promising branches at each level, it is particularly suited for the type of problem that we consider here, in which the branch-and-bound procedure becomes intractable for large problems, and we have a good evaluation function to guide the search.…”

Section: Solution Proceduresmentioning

confidence: 99%

Order acceptance with weighted tardiness

Slotnick

Morton

2007

Computers & Operations Research

129

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Section: Solution Proceduresmentioning

confidence: 99%

Order acceptance with weighted tardiness

Slotnick

Morton

2007

Computers & Operations Research

129

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“…More recent contributions concerning the problem of product line designs are applications of genetic algorithms [28][29][30], evolutionary algorithms [31] and particle swarm algorithms [13] to locate near-optimal designs based on conjoint data. Moreover, Kumar and Chatterjee [32] developed a greedy heuristic for solving complex model which considers simultaneous decision on pricing and product line optimization.…”

Section: Relationship To Existing Researchmentioning

confidence: 99%

Designing a Profit-Maximizing Product Line for Heterogeneous Market

2019

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Designing product line is important marketing decision that affects the firm's overall performances and profitability. This is particularly important due to the fact that the contemporary markets are characterized by sophisticated and diverse preferences of consumers as well as strong competition. Therefore, to meet market demand, firms prefer to offer a product line instead of a single product. In order to decide both on the number and position of products in its product line, the company should understand the way in which consumers value and choose products. For that purpose, a multi-attribute research technique known as conjoint analysis can be used. At the same time, the company should take into account product and pricing strategy of competitors and the possible competitors' reactions on its own strategy. For modelling market competition, the concept of the Nash equilibrium appears as an appropriate tool. This paper proposes a model for designing a competitive profit-maximizing product line for a heterogeneous market. Preferences were modelled by a model of partial utilities associated with the corresponding attribute levels, while the logit model is used to transform respondents' preferences into a potential market share. The problem of optimizing the product line was formulated as a nonlinear binary programming model. Proposed model was tested on the previously published conjoint data set, thus confirming its efficiency and applicability.

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“…Product design is an approach that begins with the assumption that each product has a number of attributes and levels and the larger the number of attributes and levels assigned to the product, the higher the level of difficulty it takes to design (Balakrishnan & Jacob , ; Alexouda ). Taking this approach to marketing, practitioners attempt to find the best combination of product attributes and levels that lead to success in a competitive environment (Zwilling & Fruchter ).…”

Section: Literature Review and Conceptual Frameworkmentioning

confidence: 99%

Did I Make the Right Decision? Attributes That Influence People's Choice of City of Residence

Shtudiner

Kantor

2017

Rev Urban & Reg Develop

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This paper aims to measure personal preferences regarding various attributes that affect choice of city of residence in the long term. A conjoint questionnaire was formulated in order to measure consumer perception of the importance of various attributes, such as quality of education, distance from work, average property price, and distance from family. Each attribute is composed of two categorical levels: high and low. The findings reveal which of the attributes is the most effective based on the decision-making process and shed light on which combination of attributes is most preferred by respondents. The paper addresses a new view of personal definition to buy or rent real estate when selection of the "proper" real estate relative to one's profile is taken into account. This view is of value to a variety of real estate professionals engaged in suggesting and evaluating value to consumers.

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An evolutionary algorithm approach to the share of choices problem in the product line design

Cited by 24 publications

References 16 publications

Order acceptance with weighted tardiness

Order acceptance with weighted tardiness

Designing a Profit-Maximizing Product Line for Heterogeneous Market

Did I Make the Right Decision? Attributes That Influence People's Choice of City of Residence

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