Optimal duration of magazine promotions

Jose M. Múgica and Jose Vidal-Sanz
Authors registered in the RePEc Author Service: Mercedes Esteban-Bravo ()

DEE - Working Papers. Business Economics. WB from Universidad Carlos III de Madrid. Departamento de Economía de la Empresa

Abstract: The planning of promotions and other marketing events frequently requires manufacturers to make decisions about the optimal duration of these activities. Yet manufacturers often lack the support tools for decision making. We assume that customer decisions at the aggregated level follow a state-dependent Markov process. On the basis of the expected economic return associated with dynamic response to stimuli, we determine the ideal length of marketing events using dynamic programming optimization and apply the model to a complex promotion event. Results suggest that this methodology could help managers in the publishing industry to plan the optimal duration of promotion events

Date: 2004-11
New Economics Papers: this item is included in nep-bec
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Journal Article: Optimal Duration of Magazine Promotions (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:cte:wbrepe:wb045417

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