Advertising in Duopoly Market
The paper presents the dynamics of consumer preferences over two competing products acting in duopoly market. The model presented compared the majority and minority rules as well as the modified Snazjd model in the Von Neumann neighborhood. We showed how important advertising in marketing a product is. We show that advertising should also consider the social structure simultaneously with the content of the advertisement and the understanding to the advertised product. Some theoretical explorations are discussed regarding to size of the market, evaluation of effect of the advertising, the types of the advertised products, and the social structure of which the product is marketed. We also draw some illustrative models to be improved as a further work.
|Date of creation:||10 Nov 2006|
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- Katarzyna Sznajd-Weron & Rafal Weron, 2003.
"How effective is advertising in duopoly markets?,"
- Sznajd-Weron, K. & Weron, R., 2003. "How effective is advertising in duopoly markets?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 437-444.
- Christian Schulze, 2002. "Advertising effects in Sznajd marketing model," Papers cond-mat/0207181, arXiv.org.
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