Optimal Pricing and Advertising Policies for New Product Oligopoly Models. Revision.
Abstract
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.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 01, 1981
- Accession Number
- ADA104205
Entities
People
- Gerald L. Thompson
- Jinn-tsair Teng
Organizations
- Carnegie Mellon University