Maximizing the Influence of the Innovative Products Diffusion considering Advertisement and Promotion Strategies

Liang’an Huo, Jianbo Xu, Jianjia He, Tingting Lin and A. E. Matouk

Discrete Dynamics in Nature and Society, 2021, vol. 2021, 1-14

Abstract: With the acceleration of product updates and the intensification of product competition, product market strategies become the primary consideration for the enterprises, and the advertisement and promotion strategies are considered the two important strategies implemented by enterprises. This paper considers the enterprises of similar products and substitute, their formation of a competition between traditional products and innovative products, and establishes a mixed node-level information diffusion model to describe the dynamic product diffusion process with complex network theories. We implement advertising strategies for potential buyers who have not obtained product information and implement promotional strategies for those who have obtained product information. In accordance with Pontryagin maximization principle, we seek the best strategy to maximize the impact of innovative products and use numerical calculations to simulate the diffusion state of products. We found that the advertisement strategies play a decisive role in the marketing of innovative products. If product promotion strategies are added, the spread of innovative products will be more effective and more influential.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnddns:9293303

DOI: 10.1155/2021/9293303

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