A new model of manufacturer's optimal product supply strategy in the context of precision marketing: based on real demand pattern

DOI10.1155/2020/6031563MaRDI QIDQ2217826zbMATH OpenOpenAlexFDO

Authors Zhiyi Zhuo, Shuhong Chen, Ka Yin Chau

Publication date 14 January 2021

Published in Mathematical Problems in Engineering (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1155/2020/6031563

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05) Transportation, logistics and supply chain management (90B06) Consumer behavior, demand theory (91B42)

Review text

Summary: Precision marketing has a crucial impact on whether a manufacturer can make the most profit. This paper conducts precision marketing based on customer demand and analyzes how developers should formulate the quantity and pricing of products to obtain optimal profit in the case of real demand of customers. First, the research status of the development of precision marketing and its demand for its theoretical influence is introduced. Secondly, an appropriate real demand function is constructed, according to the characteristics of the product and consumer positioning, combined with the expression of the demand function in economics. Thirdly, by using the constructed ``real demand function and combining the basic knowledge of optimization and probability theories, the profit function for manufacturers in ``real demand pattern is established. When the manufacturer wishes to obtain optimal profit from three different sales models, the product manufacturing quantity and pricing are analyzed. Finally, an example is given to verify the results of the previous analysis.

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Cites work

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