Institute for Operations Research and the Management Sciences
- Topics:
- Marketing Strategy
- Tags:
- Engineering,
- Institute For Operations Research,
- Management,
- Marketing,
- Marketing Research,
- Tools & Techniques
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Overview: This paper investigates the problem of planning marketing mix in dynamic competitive markets. The authors extend the Lanchester model by incorporating interaction effects, constructing the marketing-mix algorithm that yields marketing-mix plans with strategic foresight, and developing the continuous-discrete estimation method to calibrate dynamic models of oligopoly using market data. Both the marketing-mix algorithm and the estimation method are general, so they can be applied to any other alternative model specifications for dynamic oligopoly markets. Thus, this dual methodology augments the decision-making toolkit of managers, empowering them to tackle realistic marketing problems in dynamic oligopoly markets.
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Format: PDF | Size: 136KB | Date: Mar 2005 | Pages: 10
