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Optimal dynamic marketing-mix policies for frequently purchased products and services versus consumer durable goods: A generalized analytic approach

Author

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  • Mesak, Hani I.
  • Bari, Abdullahel
  • Ellis, T. Selwyn

Abstract

This paper deals with the qualitative characterization of optimal pricing and advertising policies together with the optimal ratio of the advertising elasticity of demand to its price elasticity over time. The problem is studied for frequently purchased products and services (FPS) as well as consumer durable goods (CDG) in both monopolistic and duopolistic markets. Demand dynamics, cost learning and discounting of future profits are taken into consideration. In addition, both the open-loop and feedback methodologies are pursued to characterize and compare the derived optimal policies.

Suggested Citation

  • Mesak, Hani I. & Bari, Abdullahel & Ellis, T. Selwyn, 2020. "Optimal dynamic marketing-mix policies for frequently purchased products and services versus consumer durable goods: A generalized analytic approach," European Journal of Operational Research, Elsevier, vol. 280(2), pages 764-777.
    • Handle: RePEc:eee:ejores:v:280:y:2020:i:2:p:764-777
    DOI: 10.1016/j.ejor.2019.07.040
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    Cited by:

    1. Ukrit Suksanguan & Somsak Siwadamrongpong & Thanapong Champahom & Sajjakaj Jomnonkwao & Tassana Boonyoo & Vatanavongs Ratanavaraha, 2022. "Structural Equation Model of Factors Influencing the Selection of Industrial Waste Disposal Service in Cement Kilns," Sustainability, MDPI, vol. 14(7), pages 1-19, March.
    2. Kumar, Patanjal & Baraiya, Rajendra & Das, Debashree & Jakhar, Suresh Kumar & Xu, Lei & Mangla, Sachin Kumar, 2021. "Social responsibility and cost-learning in dyadic supply chain coordination," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 156(C).

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