Optimal promotion planning for a product launch in the presence of word-of-mouth

Volume: 64, Pages: 102821 - 102821
Published: Jan 1, 2022
Abstract
Marketing managers concern that Word-of-Mouth (WOM) can affect the efficiency of sales promotion policy. Sales promotion might also amplify the strength of WOM which further complicates decision-making. In this study, we deploy an agent-based simulation optimization framework to find an efficient sales promotion plan in the presence of WOM for launching re-purchasable products. In this model, consumers' purchase decisions are influenced by price...
Paper Details
Title
Optimal promotion planning for a product launch in the presence of word-of-mouth
Published Date
Jan 1, 2022
Volume
64
Pages
102821 - 102821
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