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    Optimal investment strategy on advertisement in duopoly

    Access Status
    Open access via publisher
    Authors
    Wang, F.
    Zhang, Q.
    Li, Bin
    Liu, Wan-Quan
    Date
    2015
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Wang, F. and Zhang, Q. and Li, B. and Liu, W. 2015. Optimal investment strategy on advertisement in duopoly. Journal of Industrial and Management Optimization. 12 (2): pp. 625-636.
    Source Title
    Journal of Industrial and Management Optimization
    DOI
    10.3934/jimo.2016.12.625
    ISSN
    1547-5816
    School
    Department of Mathematics and Statistics
    URI
    http://hdl.handle.net/20.500.11937/25170
    Collection
    • Curtin Research Publications
    Abstract

    In this paper, we will investigate a duopoly competition issue in a commencing period of horizontal expansion. This is an important problem in marketing investment for new products in free market. First, we propose a new market model characterized by nonlinear differential-algebraic equations with continuous inequality constraints, which aims to maximize an enterprise’s product market share rather than its profit in the commencing period in an environment of the duopoly market. In order to solve the investment problem numerically based on proposed model, the control parameterization technique together with the constraint transcription method is used by transforming the proposed problem into a sequence of optimal parameter selection problems. Finally, a practical example on beer sales is used to show the effectiveness of proposed model and we present the optimal advertising strategies corresponding to different competition situations.

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