Optimal advertising in growing-stabilizing markets

Optimal advertising in growing-stabilizing markets

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Article ID: iaor1994619
Country: United Kingdom
Volume: 14
Issue: 3
Start Page Number: 221
End Page Number: 228
Publication Date: Jul 1993
Journal: Optimal Control Applications & Methods
Authors: ,
Keywords: programming: dynamic, marketing
Abstract:

The method of dynamic programming is used to determine the optimal synthesis of an advertising problem. The market of the product in question grows exponentially up to a time when it stabilizes at a constant value. The problem is singular and with an unbounded control. A parametrization of time is introduced to deal with these difficulties.

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