Title :
Optimal Control of Advertising based on a Micro-Level Diffusion Model
Author :
Yan, Haixing ; Cheng, Yanmin
Author_Institution :
Glorious sun Sch. of Bus. & Manage., Donghua Univ., Shanghai
Abstract :
This paper deals with the determination of optimal advertising strategies for micro-level models. We analyze the adoption behavior of consumers in risk-sensitive markets, and applying Bayes decision theory to innovation diffusion process develops the aggregated diffusion models of durable goods. Considering effectiveness of information transmitted by advertisement and adopters, the optimal control policies of advertising are conducted according to the optimal control theory.
Keywords :
Bayes methods; advertising; optimal control; Bayes decision theory; advertising; consumers; durable goods; innovation diffusion process; microlevel diffusion model; optimal control; risk-sensitive markets; Advertising; Decision theory; Diffusion processes; Educational institutions; Marketing and sales; Mathematical model; Optimal control; Risk analysis; Sun; Technological innovation; advertising; component; diffusion of innovation; marketing; optimal control;
Conference_Titel :
Knowledge Acquisition and Modeling Workshop, 2008. KAM Workshop 2008. IEEE International Symposium on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-3530-2
Electronic_ISBN :
978-1-4244-3531-9
DOI :
10.1109/KAMW.2008.4810679
