Optimal Pricing and Advertising Policies for New Product Oligopoly Models. Revision

Download or read book Optimal Pricing and Advertising Policies for New Product Oligopoly Models. Revision written by Gerald L. Thompson and published by . This book was released on 1981 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper our previous work on monopoly and oligopoly new product models is extended by the addition of pricing as well as advertising control variables. These models contain Bass's demand growth model, and the Vidale-Wolfe and Ozga advertising models, as well as the production learning curve model and an exponential demand function. The problem of characterizing an optimal pricing and advertising policy over time is an important question in the field of marketing as well as in the areas of business policy and competitive economics. These questions are particularly important during the introductory period of a new product, when the effects of the learning curve phenomenon and market saturation are most pronounced.