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

Kód výsledku v 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>

Nalezeny alternativní kódy

RIV/00216305:26210/23:PU155594

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

<a href="/cs/project/GJ20-00091Y" target="_blank" >GJ20-00091Y: Nové přístupy operačního výzkumu pro udržitelnost v odpadovém hospodářství</a><br>

Návaznosti

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

Rok uplatnění

2023

Kód důvěrnosti údajů

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

Název periodika

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS

ISSN

0925-5273

e-ISSN

1873-7579

Svazek periodika

257

Číslo periodika v rámci svazku

Neuveden

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

10

Strana od-do

—

Kód UT WoS článku

000915856400001

EID výsledku v databázi Scopus

2-s2.0-85145780767