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Dynamic Correction in Marketing Planning Models

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  • Charles B. Weinberg

    (Stanford University)

Abstract

Most marketing planning models have carry-over effects in which one period's decisions influence the results obtained in future periods. In this paper it is shown that failure to allow for the carry-over effect beyond the planning horizon can result in underallocation of resources and in biases in the timing pattern of resource expenditure. For a wide class of market planning models, a procedure is developed to take into account this long-term effect. The distortion and the procedure are illustrated in an example.

Suggested Citation

  • Charles B. Weinberg, 1976. "Dynamic Correction in Marketing Planning Models," Management Science, INFORMS, vol. 22(6), pages 677-687, February.
  • Handle: RePEc:inm:ormnsc:v:22:y:1976:i:6:p:677-687
    DOI: 10.1287/mnsc.22.6.677
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