Marketing effort within the newsvendor problem framework: A systematic review and extensions of demand-effort and cost-effort formulations

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28140%2F23%3A63564058" target="_blank" >RIV/70883521:28140/23:63564058 - isvavai.cz</a>

Alternative codes found

RIV/00216305:26210/23:PU155594

Result on the web

<a href="https://www.sciencedirect.com/science/article/pii/S092552732200336X" target="_blank" >https://www.sciencedirect.com/science/article/pii/S092552732200336X</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.ijpe.2022.108754" target="_blank" >10.1016/j.ijpe.2022.108754</a>

Result language

angličtina

Original language name

Marketing effort within the newsvendor problem framework: A systematic review and extensions of demand-effort and cost-effort formulations

Original language description

This study deals with a generalization of the newsvendor problem with marketing efforts. Combining inventory and marketing decisions is currently a topic that has been widely studied. Various formulations of marketing efforts and their costs have been applied in the literature. Therefore, a systematic review was performed to identify existing formulations, especially those that deal with mathematical modeling and optimization. The findings observed on a wide set of marketing effort formulations are summarized, generalized, and applied in the newsvendor problem framework. It was found that the optimal marketing effort decision does not depend on the uncertainty involved in the model for the additive demand case under commonly used assumptions. Optimal marketing is equal to its deterministic equivalent, contrary to the multiplicative form, where the decision directly depends on uncertainty. Formulations of the demand-effort response function and the cost of marketing effort are generalized (to concave and convex functions, respectively) and extended to an S-shaped demand-effort response function. Assumptions and theorems that guarantee the uniqueness of optimal marketing efforts are established. Finally, the effects of price and cost parameter changes on optimal marketing effort decisions were analyzed. © 2022 Elsevier B.V.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

<a href="/en/project/GJ20-00091Y" target="_blank" >GJ20-00091Y: Development of Sustainable Waste Management: Methods and Operations Research Perspectives</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS

ISSN

0925-5273

e-ISSN

1873-7579

Volume of the periodical

257

Issue of the periodical within the volume

Neuveden

Country of publishing house

NL - THE KINGDOM OF THE NETHERLANDS

Number of pages

10

Pages from-to

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UT code for WoS article

000915856400001

EID of the result in the Scopus database

2-s2.0-85145780767