Dynamic Correction in Marketing Planning Models

Charles B. Weinberg
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Charles B. Weinberg: Stanford University

Management Science, 1976, vol. 22, issue 6, 677-687

Abstract: Most marketing planning models have carry-over effects in which one period's decisions influence the results obtained in future periods. In this paper it is shown that failure to allow for the carry-over effect beyond the planning horizon can result in underallocation of resources and in biases in the timing pattern of resource expenditure. For a wide class of market planning models, a procedure is developed to take into account this long-term effect. The distortion and the procedure are illustrated in an example.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:22:y:1976:i:6:p:677-687

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