A stochastic model of optimal advertising pulsing policy (Q1088897)
From MaRDI portal
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A stochastic model of optimal advertising pulsing policy |
scientific article |
Statements
A stochastic model of optimal advertising pulsing policy (English)
0 references
1987
0 references
A descriptive model of stochastic sales response to advertising pulsing policy is presented. The prescribed strategy is the maximizer of a discounted profit function which includes the decision maker's attitude towards risk. Markovian assumptions concerning the sales behavior are made and the randomization technique for computing the probabilistic levels of sales is used. Maximum likelihood procedures for the estimation of market parameters are also discussed.
0 references
stochastic sales response
0 references
advertising pulsing policy
0 references
Maximum likelihood procedures
0 references
estimation of market parameters
0 references
0 references
