scholarly journals Studying the Effect of Noise on Pricing and Marketing Decisions of New Products under Co-op Advertising Strategy in Supply Chains: Game Theoretical Approaches

Mathematics ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 1222
Author(s):  
Ata Allah Taleizadeh ◽  
Zahedeh Cheraghi ◽  
Leopoldo Eduardo Cárdenas-Barrón ◽  
Mahsa Noori-Daryan
Keyword(s):  
New Products ◽  
Coordination Mechanism ◽  
Key Factors ◽  
Noise Effect ◽  
Closed Form Solutions ◽  
Advertising Strategy ◽  
Theoretical Approaches ◽  
Main Challenge ◽  
Total Profit ◽  
Non Cooperative Games

The success of launching new products is the main challenge of companies since it is one of the key factors of competition. Thus, success in today’s high rival markets depends on the presentation of new products with new options, which must be compatible with customers’ desires. This research aims to analyze the psychological effect of the noise of a new product on the total profit of the chain and the optimal pricing and marketing decisions of the chain’s members. Additionally, a cooperative (co-op) advertising strategy as a coordination mechanism is considered among the partners such that it helps them to obtain their target markets. Commonly, under co-op advertising, the manufacturer pays a percentage of the retailer’s advertising costs. In this chain, the manufacturer and the retailer agree to share the retailer’s advertising costs. Afterwards, four different relations between the manufacturer and retailer are studied and analyzed including three non-cooperative games with symmetrical distribution of market power and one asymmetrical distribution of it. So, four game models and their closed-form solutions are illustrated with a numerical example. It was found that the noise effect affects the total profit of the manufacturer and the retailer, as well as the supply chain by influencing the partners’ advertising policies. In other word, increasing the noise effect of the product indicates to the manufacturer and the retailer to globally and locally advertise more, respectively. In turn, their profits increase, although also increasing the advertising costs. Finally, a complete sensitivity analysis is conducted and reported.

Gas Turbine Fouling Offshore: Correction Methodology Compressor Efficiency

2017 ◽  
Author(s):  
Stian Madsen ◽  
Lars E. Bakken
Keyword(s):  
Gas Turbine ◽  
Peak Load ◽  
Operational Experience ◽  
Air Filtration ◽  
Ambient Conditions ◽  
Key Factors ◽  
Turbine Performance ◽  
Main Challenge ◽  
Filtration System ◽  
Compressor Efficiency

Gas turbine performance has been analyzed for a fleet of GE LM2500 engines at two Statoil offshore fields in the North Sea. Both generator drive engines and compressor driver engines have been analyzed, covering both the LM2500 base and plus configurations, as well as the SAC and DLE combustor configurations. Several of the compressor drive engines are running at peak load (T5.4 control), and the production rate is thus limited to the available power from these engines. The majority of the engines discussed run continuously without redundancy, implying that gas turbine uptime is critical for the field’s production and economy. Previous studies and operational experience have emphasized that the two key factors to minimize compressor fouling are the optimum designs of the inlet air filtration system and the water wash system. An optimized inlet air filtration system, in combination with daily online water wash (at high water-to-air ratio), are the key factors to achieve successful operation at longer intervals between offline washes and higher average engine performance. Operational experience has documented that the main gas turbine recoverable deterioration is linked to the compressor section. The main performance parameter when monitoring compressor fouling is the gas turbine compressor efficiency. Previous studies have indicated that inlet depression (air mass flow at compressor inlet) is a better parameter when monitoring compressor fouling, whereas instrumentation for inlet depression is very seldom implemented on offshore gas turbine applications. The main challenge when analyzing compressor efficiency (uncorrected) is the large variation in efficiency during the periods between offline washes, mainly due to operation at various engine loads and ambient conditions. Understanding the gas turbine performance deterioration is of vital importance. Trending of the deviation from the engine baseline facilitates load-independent monitoring of the gas turbine’s condition. Instrument resolution and repeatability are key factors for attaining reliable results in the performance analysis. A correction methodology for compressor efficiency has been developed, which improves the long term trend data for effective diagnostics of compressor degradation. Avenues for further research and development are proposed in order to further increase the understanding of the deterioration mechanisms, as well as gas turbine performance and response.

Improving IT Market Development through IT Solutions for Prosumers

2014 ◽  
pp. 16-30 ◽  
Author(s):  
Robert Costello
Keyword(s):  
Software Development ◽  
Product Development ◽  
Economic Status ◽  
New Products ◽  
Market Development ◽  
Key Factors ◽  
Way Of Thinking ◽  
Individual Expert

With the IT markets rapidly changing, organisations are looking at alternative ways of improving their economic status through using the prosumer to improve IT solutions. This whole concept of using the prosumer involves organisations coming away from the traditional way of thinking about the producers and consumers as individual entities. IT companies frequently face product development challenges from industrial or societal innovations pressure. Organisations are responding to these trends within the IT sector by developing new products and improving existing products. This chapter looks at what key factors are associated with prosumers’ and how organisations can harness this power through personalisation. Personalisation through prosumers’ can improve the software development cycles and innovations through incorporating individual expert skills.

scholarly journals Product bundling and advertising strategy for a duopoly supply chain: a power-balance perspective

2020 ◽  
Author(s):  
Sarat Kumar Jena ◽  
Abhijeet Ghadge
Keyword(s):  
Supply Chain ◽  
Price Competition ◽  
Market Size ◽  
Power Balance ◽  
Supply Chain Network ◽  
Product Bundling ◽  
Advertising Strategy ◽  
Advertising Effort ◽  
Total Profit ◽  
The Impact

AbstractThe paper studies product bundling in a duopoly supply chain network under the influence of different power-balance structures, bundling decisions and advertising efforts on total supply chain profit. Mathematical models comprising two manufacturers and a single retailer are developed to capture the impact of bundling policy and advertisement strategy under three power-balance structures, namely Manufacturer Stackelberg, Retailer Stackelberg and Vertical Nash. Following game theory models and numerical examples, the study found that the total profit of the supply chain is undifferentiated under the manufacturer Stackelberg and Vertical Nash case in the manufacturer bundling and retailer bundling strategies. However, total supply chain profit under manufacturer bundling strongly dominates under retailer bundling in Retailer Stackelberg and Vertical Nash, and remains valid under multiple settings of market size, price elasticity and advertising elasticity. It is also found that manufacturer bundling is significantly affected by advertising effort compared to retailer bundling. The study contributes to the literature interfacing supply chain and marketing by studying bundling policy and advertising strategy simultaneously for homogenous products, under various power-balance structures and price competition.

scholarly journals Talisman as an element of intangible heritage and commercialization of the sports event

2018 ◽  
pp. 110-116
Author(s):  
E. A. Gureeva
Keyword(s):  
Key Factors ◽  
World Cup ◽  
Successful Development ◽  
Intangible Heritage ◽  
The World ◽  
Total Profit ◽  
Survey Results ◽  
Commercial Value

The article studies the intangible heritage of sports event and, in particular, an official talisman of a sports competition as a carrier of cultural and commercial component. The goal of the research is to reveal the importance of the talisman of official competition for fans and estimate the demand for the product with the image of official talisman using the World Football Cup 2018 in Moscow as an example and at the same time to show profit from selling this type of product. The research was based on survey results aimed at identifying the demand for products with the event symbol. The author found out the following: 1. Expenses of fans from different countries on souvenir products with the event symbol were different; 2. Products with the event talisman were in the highest demand; 3. The total profit from selling souvenir products with the official talisman of the World Cup 2018 in Russia, Zabivaksa wolf made over €50m. As a conclusion the author provides recommendations on developing souvenir products with the official talisman of the event in order to maximize its cultural and commercial value. Key factors of the successful development of licensed products of sports competitions were shown.

Optimal Design of Online Sequential Buy-Price Auctions with Consumer Valuation Learning

2020 ◽  
Vol 37 (03) ◽  
pp. 2050012 ◽  
Author(s):  
Ao Li ◽  
Zhaoman Wan ◽  
Zhong Wan
Keyword(s):  
Dynamic Programming ◽  
Bayesian Learning ◽  
Complete Information ◽  
Learning Model ◽  
Programming Approach ◽  
Key Factors ◽  
Dynamic Programming Approach ◽  
Online Sales ◽  
Price Auction ◽  
Total Profit

Buy-price auction has been successfully used as a new channel of online sales. This paper studies an online sequential buy-price auction problem, where a seller has an inventory of identical products and needs to clear them through a sequence of online buy-price auctions such that the total profit is maximized by optimizing the buy price in each auction. We propose a methodology by dynamic programming approach to solve this optimization problem. Since the consumers’ behavior affects the seller’s revenue, the consumers’ strategy used in this auction is first investigated. Then, two different dynamic programming models are developed to optimize the seller’s decision-making: one is the clairvoyant model corresponding to a situation where the seller has complete information about consumer valuations, and the other is the Bayesian learning model where the seller makes optimal decisions by continuously recording and utilizing auction data during the sales process. Numerical experiments are employed to demonstrate the impacts of several key factors on the optimal solutions, including the size of inventory, the number of potential consumers, and the rate at which the seller discounts early incomes. It is shown that when the consumers’ valuations are uniformly distributed, the Bayesian learning model is of great efficiency if the demand is adequate.

Theoretical Approaches to the Marketing of Innovation in Biotechnology Firms

2011 ◽  
pp. 167-176
Author(s):  
Tomas Gabriel Bas
Keyword(s):  
Genetic Manipulation ◽  
New Products ◽  
New Product ◽  
Technological Knowledge ◽  
Life Cycles ◽  
Strong Component ◽  
New Markets ◽  
Biotechnology Firms ◽  
Theoretical Approaches ◽  
The Many

The marketing of new products for new markets is uncertain and often leads to confusion. One of the many causes is the wrong use of marketing techniques for mature products whose life cycles are different, although they are very familiar. Biotechnology, with a strong component of technological knowledge and innovative cross-refers not to an industry, but rather a set of applications of intricate characteristics mainly due to genetic manipulation, which represents a particular challenge unlike other more mature or traditional product or technology. For this reason, through an innovation based marketing for new product, new customers and new markets are essential to maximize the success of this technology.

Theoretical Approaches to the Marketing of Innovation in Biotechnology Firms

E-Marketing ◽  
2012 ◽  
pp. 1069-1078
Author(s):  
Tomas Gabriel Bas
Keyword(s):  
Genetic Manipulation ◽  
New Products ◽  
New Product ◽  
Technological Knowledge ◽  
Life Cycles ◽  
Strong Component ◽  
New Markets ◽  
Biotechnology Firms ◽  
Theoretical Approaches ◽  
The Many

The marketing of new products for new markets is uncertain and often leads to confusion. One of the many causes is the wrong use of marketing techniques for mature products whose life cycles are different, although they are very familiar. Biotechnology, with a strong component of technological knowledge and innovative cross-refers not to an industry, but rather a set of applications of intricate characteristics mainly due to genetic manipulation, which represents a particular challenge unlike other more mature or traditional product or technology. For this reason, through an innovation based marketing for new product, new customers and new markets are essential to maximize the success of this technology.

scholarly journals Supply Chain Bilateral Coordination with Option Contracts under Inflation Scenarios

2015 ◽  
Vol 2015 ◽  
pp. 1-16 ◽  
Author(s):  
Nana Wan ◽  
Xu Chen
Keyword(s):  
Supply Chain ◽  
Supply Chain Coordination ◽  
Wholesale Price ◽  
Coordination Mechanism ◽  
Key Factors ◽  
Model Framework ◽  
Bilateral Coordination ◽  
Option Contracts ◽  
Optimal Ordering ◽  
The Impact

There exist obvious changes in price and demand during the inflationary period, both of which are regarded as the key factors leading to supply chain uncertainty. In this paper, we focus our discussion on price increase and demand contraction caused by inflation, integrate the effect of inflation and option contracts within the model framework, and analyze how to use option contracts to achieve supply chain coordination under inflation scenarios. We consider a one-period two-stage supply chain consisting of one supplier and one retailer and explore the effect of inflation on the optimal ordering and production decisions under three different types of contracts: wholesale price contracts, option contracts, and portfolio contracts. Moreover, we explore the impact of option contracts on the supply chain through using wholesale price contracts model as the benchmark. We find that the retailer prefers adopting portfolio contracts, but the supplier prefers providing option contracts under inflation scenarios. Ultimately, option contracts will be implemented owing to the supplier’s market dominant position. In addition, we discuss the supply chain bilateral coordination mechanism with option contracts from the perspectives of two members and derive that option contracts can coordinate the supply chain and achieve Pareto improvement under inflation scenarios.

Theoretical approaches on the possible existence of a stabilising economic policy in Europe

2016 ◽  
Vol 43 (5) ◽  
pp. 815-834 ◽  
Author(s):  
Alessandro Morselli
Keyword(s):  
Fiscal Policy ◽  
Cooperative Games ◽  
Policy Coordination ◽  
Fiscal Policies ◽  
Policy Mix ◽  
Member States ◽  
Content Type ◽  
Theoretical Approaches ◽  
Non Cooperative Games ◽  
Fiscal Policy Coordination

Purpose The purpose of this paper is to investigate whether there is room for a stabilising fiscal policy, through an analysis of the supporters of the new classical economics and the supporters of the new Keynesian economics. There are no reliable results on the Keynesian and non-Keynesian effects of fiscal policies. As such, the policy-mix becomes a problem of theoretical approach, in the sense of a strategic game between monetary authorities and tax authorities (among them). This points to the problem of coordination between budgetary authorities as being the central debate within the Eurozone. The end-result is that without fiscal policy coordination, Eurozone member states are working on a series of non-cooperative games that are inefficient, because no player can improve its position by unilaterally changing its strategy. Design/methodology/approach The analysis starts from the experience of three countries in the 1980s, these are Denmark, Ireland and Sweden. In all three cases the adoption of restrictive budget policies has provoked a strong, rapid and enduring resizing of public debt, and growth did not weaken, moreover it accelerated. In all three cases the logic behind the policy-mix actions allowed the individualisation of the respective roles of fiscal and monetary policies. Fiscal policies were joining with fiscal instruments and reduction in public spending and furthermore monetary policy was accommodated in respect of the budget contraction. Findings First, the authors were not able to identify an analytical method that can ensure the success of a fiscal policy. Second, analysing fiscal policies within the Eurozone implies also that the authors reflect on the need for a coordination of these policies. In fact, the authors have shown how the possible coordination of economic policies in the Eurozone would result in major benefits for all member countries. Originality/value In the absence of fiscal policy coordination, member states are engaged in a series of non-cooperative games that prove inefficient, when no player is able to improve its position by unilaterally changing its fiscal policy. The coordination of national fiscal policies generates a collective advantage, bringing each state to consistently change its strategies.

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