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Grosset, Luca (2004) Advertising for a new product introduction: a stochastic approach. [Ph.D. thesis (pre 2008)]

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Abstract (english)

Many marketing policies can be correctly explained and analyzed only through a stochastic approach to the problem. In this thesis the planning of a pre-launch publicity campaign has been studied using the stochastic control theory and some recent results of the stochastic linear quadratic control theory. We assume that a firm controls the goodwill evolution of a product through the advertising flow, or some other communication channel, in the programming interval [0, T]. The advertising flow increases the goodwill level which otherwise spontaneously decreases. Such hypotheses have been introduced by Nerlove and Arrow in a deterministic framework and have led to the development of a model class called “advertising capital model , in which the advertising flow is considered as an investment in goodwill (a stock
which represents the firm image in the market). In this work:
• we assume that the advertising effects on the goodwill evolution are stochastic;
• we describe the effects of the word-of-mouth publicity, by introducing a diffusion term representing the goodwill volatility;
• we assume that the firm can use different advertising channels.

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EPrint type:Ph.D. thesis (pre 2008)
Tutor:Viscolani, Bruno
Supervisor:Viscolani, Bruno
Ph.D. course:Dottorato > Scuole di dottorato > Scienze matematiche
Anno di Pubblicazione:20 May 2004
Key Words:Adverstising stochastic optimal control
Settori scientifico-disciplinari MIUR:Area 01 - Scienze matematiche e informatiche > MAT/06 Probabilità e statistica matematica
Struttura di riferimento:Dipartimenti > Dipartimento di Matematica
Codice ID:78
Depositato il:04 Jun 2007
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