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The optimal production and sales policy for a new product with negative word-of-mouth
1. | School of Software, Dongguan University of Technology, Dongguan 523808, Guangdong, China |
2. | Institute of Applied Mathematics, Academy of Mathematics and Systems Sciences, Chinese Academy of Sciences, Beijing 100190, China, China, China |
References:
[1] |
F. M. Bass, A new product growth for model consumer durables,, Management Science, 15 (1969), 215.
doi: 10.1287/mnsc.15.5.215. |
[2] |
F. M. Bass, T. V. Krishnan and D. C. Jain, Why the bass model fits without decision variables,, Marketing Science, 13 (1984), 203.
doi: 10.1287/mksc.13.3.203. |
[3] |
J. G. Blodgett, D. H. Granbois and R. G. Walters, The effects of perceived justice on complainants' negative word-of-mouth behavior and repatronage intentions,, Journal of Retailing, 69 (1983), 399.
doi: 10.1016/0022-4359(93)90015-B. |
[4] |
P. F. Bone, Word-of-Mouth effects on short-term and long-term product judgments,, Journal of Business Research, 32 (1995), 213.
doi: 10.1016/0148-2963(94)00047-I. |
[5] |
R. Cellini and L. Lambertini, Advertising in a differential oligopoly game,, Journal of Optimization Theory and Applications, 116 (2003), 61.
doi: 10.1023/A:1022158102252. |
[6] |
D. Charlett, R. Garland and N. Marr, How damaging is negative word of mouth?, Marketing Bulletin, 6 (1995), 42. Google Scholar |
[7] |
G. Cheryl, Simultaneous and dynamic price, production, inventory and capacity decisions,, European Journal of Operational Research, 35 (1988), 426.
doi: 10.1016/0377-2217(88)90232-9. |
[8] |
C. Dellarocas, The digitization of word of mouth: promise and challenges of online feedback mechanisms,, Management Science, 49 (2003), 1407.
doi: 10.1287/mnsc.49.10.1407.17308. |
[9] |
E. J. Dockner and G. E. Fruchter, Dynamic strategic pricing and speed of diffusion,, Journal of Optimization Theory and Applications, 123 (2004), 331.
doi: 10.1007/s10957-004-5152-2. |
[10] |
R. J. Dolan and A. P. Jeuland, Experience curves and dynamic demand models: implications for optimal pricing strategies,, Journal of Marketing, 45 (1984), 52.
doi: 10.2307/1251720. |
[11] |
J. A. Dodson and E. Muller, Models of new product diffusion through advertising and word-of-mouth,, Management Science, 24 (1978), 1568.
doi: 10.1287/mnsc.24.15.1568. |
[12] |
R. Easta, K. Hammondb and W. Lomax, Measuring the impact of positive and negative word of mouth on brand purchase probability,, International Journal of Research in Marketing, 25 (2008), 215.
doi: 10.1016/j.ijresmar.2008.04.001. |
[13] |
R. Easta, K. Hammondb and M. Wright, The relative incidence of positive and negative word of mouth: A multi-category study,, International Journal of Research in Marketing, 24 (2007), 175.
doi: 10.1016/j.ijresmar.2006.12.004. |
[14] |
Z. Griliches, Hybrid corn: an exploration in the economics of technoligical change,, Econometrica, 25 (1957), 501.
doi: 10.2307/1905380. |
[15] |
R. F. Hartl, A. J. Novak and S. P. Sethi, Optimal pricing of a product diffusing in rich and poor populations,, Journal of Optimization Theory and Applications, 117 (2003), 349.
doi: 10.1023/A:1023635807884. |
[16] |
X. He and S. P. Sethi, Dynamic slotting and pricing decisions in a durable product supply chain,, Journal of Optimization Theory and Applications, 137 (2008), 363.
doi: 10.1007/s10957-007-9330-x. |
[17] |
D. Heyman and M. J. Sobel, "Stochastic Models in Operations Research Volume II: Stochastic Optimization,", 1st edition, (1984). Google Scholar |
[18] |
T. Ho, S. Savin and C. Terwiesch, Managing demand and sale dynamics in new product diffusion under supply constraint,, Management Science, 48 (2002), 187.
doi: 10.1287/mnsc.48.2.187.257. |
[19] |
D. Jain, V. Mahajan and E. Muller, Innovation diffusion in the presence of supply restrictions,, Marketing Science, 10 (1991), 83.
doi: 10.1287/mksc.10.1.83. |
[20] |
S. JØrgensen, S. Taboubi and G. Zaccour, Cooperative advertising in a marketing channel,, Journal of Optimization Theory and Applications, 110 (2001), 145.
doi: 10.1023/A:1017547630113. |
[21] |
S. Kalish, Monopolist pricing with dynamic demand and production cost,, Marketing Science, 2 (1983), 135.
doi: 10.1287/mksc.2.2.135. |
[22] |
S. Kalish, A new product adoption model with price, advertising and uncertainty,, Management Science, 31 (1985), 1569.
doi: 10.1287/mnsc.31.12.1569. |
[23] |
T. V. Krishnan, F. M. Bass and D. C. Jain, Optimal pricing strategy for new products,, Management Science, 45 (1999), 1650.
doi: 10.1287/mnsc.45.12.1650. |
[24] |
T. V. Krishnan and D. C. Jain, Optimal dynamic advertising policy for new products,, Management Science, 52 (2006), 1957.
doi: 10.1287/mnsc.1060.0585. |
[25] |
S. Kumar and J. M. Swaminathan, Diffusion of innovations under supply constraints,, Operations Research, 51 (2003), 866.
doi: 10.1287/opre.51.6.866.24918. |
[26] |
S. Kumar and S. P. Sethi, Dynamic pricing and advertising for web content providers,, European Journal of Operational Research, 197 (2009), 924.
doi: 10.1016/j.ejor.2007.12.038. |
[27] |
R. N. Laczniak, T. E. DeCarlo and S. N. Ramaswami, Consumers' responses to negative word-of-mouth communication: An attribution theory perspective,, Journal of Consumer Psychology, 11 (2001), 57.
doi: 10.1207/S15327663JCP1101_5. |
[28] |
G. T. Lau and S. Ng, Individual and situational factors influencing negative word-of-mouth behaviour,, Canadian Journal of Administrative Sciences, 18 (2009), 163.
doi: 10.1111/j.1936-4490.2001.tb00253.x. |
[29] |
X. Luo, Quantifying the long-term impact of negative word of mouth on cash flows and stock prices,, Marketing Science, 28 (2009), 148.
doi: 10.1287/mksc.1080.0389. |
[30] |
E. Mansfield, Technical change and the rate of imitation,, Econometrica, 29 (1961), 741.
doi: 10.2307/1911817. |
[31] |
V. Mahajan, E. Muller and F. M. Bass, New product diffusion models in marketing: A review and directions for research,, Journal of Marketing Research, 54 (1990), 1. Google Scholar |
[32] |
V. Mahajan, E. Muller and R. A. Kerin, Introduction strategy for new products with positive and negative word-of-mouth,, Management Science, 30 (1984), 1389.
doi: 10.1287/mnsc.30.12.1389. |
[33] |
V. Mahajan, E. Muller and Y. Wind, "New-Product Diffusion Models,", 1st edition, (2000). Google Scholar |
[34] |
H. I. Mesak and J. W. Clark, Monopolist optimum pricing and advertising policies for diffusion models of new product innovations,, Optimal Control Applications and Methods, 19 (1998), 111.
doi: 10.1002/(SICI)1099-1514(199803/04)19:2<111::AID-OCA622>3.0.CO;2-M. |
[35] |
M. L. Richins, Negative word-of-mouth by dissatisfied consumers: a pilot study,, Journal of Marketing, 47 (1983), 68.
doi: 10.2307/3203428. |
[36] |
B. Robinson and C. Lakhani, Dynamic price models for new product planning,, Management Science, 21 (1975), 1113.
doi: 10.1287/mnsc.21.10.1113. |
[37] |
S. P. Sethi and G. L. Thompson, "Optimal Control Theory,", 2nd edition, (2000). Google Scholar |
[38] |
H. Simon and K. H. Sebastian, Diffusion and advertising: the german telephone campaign,, Management Science, 33 (1987), 451.
doi: 10.1287/mnsc.33.4.451. |
[39] |
J. Singh, Voice, exit, and negative word-of-mouth behaviors: An investigation across three service categories,, Journal of the Academy of Marketing Science, 18 (1990), 1.
doi: 10.1007/BF02729758. |
[40] |
G. L. Thomposon, S. P. Sethi and J-T. Teng, Strong planning and forecast horizons for a model with simultaneous price and production decisions,, European Journal of Operational Research, 16 (1984), 378.
doi: 10.1016/0377-2217(84)90292-3. |
[41] |
F. V. Wangenheim, Postswitching negative word of mouth,, Journal of Service Research, 8 (2005), 67.
doi: 10.1177/1094670505276684. |
[42] |
I. M. Wetzer, M. Zeelenberg and R. Pieters, Never eat in that restaurant, i did!: exploring why people engage in negative word-of-mouth communication,, Psychology and Marketing, 24 (2007), 661.
doi: 10.1002/mar.20178. |
[43] |
X. Yan and K. Liu, Optimal control problems for a new product with word-of-mouth,, International Journal of Production Economics, 119 (2009), 402.
doi: 10.1016/j.ijpe.2009.03.011. |
show all references
References:
[1] |
F. M. Bass, A new product growth for model consumer durables,, Management Science, 15 (1969), 215.
doi: 10.1287/mnsc.15.5.215. |
[2] |
F. M. Bass, T. V. Krishnan and D. C. Jain, Why the bass model fits without decision variables,, Marketing Science, 13 (1984), 203.
doi: 10.1287/mksc.13.3.203. |
[3] |
J. G. Blodgett, D. H. Granbois and R. G. Walters, The effects of perceived justice on complainants' negative word-of-mouth behavior and repatronage intentions,, Journal of Retailing, 69 (1983), 399.
doi: 10.1016/0022-4359(93)90015-B. |
[4] |
P. F. Bone, Word-of-Mouth effects on short-term and long-term product judgments,, Journal of Business Research, 32 (1995), 213.
doi: 10.1016/0148-2963(94)00047-I. |
[5] |
R. Cellini and L. Lambertini, Advertising in a differential oligopoly game,, Journal of Optimization Theory and Applications, 116 (2003), 61.
doi: 10.1023/A:1022158102252. |
[6] |
D. Charlett, R. Garland and N. Marr, How damaging is negative word of mouth?, Marketing Bulletin, 6 (1995), 42. Google Scholar |
[7] |
G. Cheryl, Simultaneous and dynamic price, production, inventory and capacity decisions,, European Journal of Operational Research, 35 (1988), 426.
doi: 10.1016/0377-2217(88)90232-9. |
[8] |
C. Dellarocas, The digitization of word of mouth: promise and challenges of online feedback mechanisms,, Management Science, 49 (2003), 1407.
doi: 10.1287/mnsc.49.10.1407.17308. |
[9] |
E. J. Dockner and G. E. Fruchter, Dynamic strategic pricing and speed of diffusion,, Journal of Optimization Theory and Applications, 123 (2004), 331.
doi: 10.1007/s10957-004-5152-2. |
[10] |
R. J. Dolan and A. P. Jeuland, Experience curves and dynamic demand models: implications for optimal pricing strategies,, Journal of Marketing, 45 (1984), 52.
doi: 10.2307/1251720. |
[11] |
J. A. Dodson and E. Muller, Models of new product diffusion through advertising and word-of-mouth,, Management Science, 24 (1978), 1568.
doi: 10.1287/mnsc.24.15.1568. |
[12] |
R. Easta, K. Hammondb and W. Lomax, Measuring the impact of positive and negative word of mouth on brand purchase probability,, International Journal of Research in Marketing, 25 (2008), 215.
doi: 10.1016/j.ijresmar.2008.04.001. |
[13] |
R. Easta, K. Hammondb and M. Wright, The relative incidence of positive and negative word of mouth: A multi-category study,, International Journal of Research in Marketing, 24 (2007), 175.
doi: 10.1016/j.ijresmar.2006.12.004. |
[14] |
Z. Griliches, Hybrid corn: an exploration in the economics of technoligical change,, Econometrica, 25 (1957), 501.
doi: 10.2307/1905380. |
[15] |
R. F. Hartl, A. J. Novak and S. P. Sethi, Optimal pricing of a product diffusing in rich and poor populations,, Journal of Optimization Theory and Applications, 117 (2003), 349.
doi: 10.1023/A:1023635807884. |
[16] |
X. He and S. P. Sethi, Dynamic slotting and pricing decisions in a durable product supply chain,, Journal of Optimization Theory and Applications, 137 (2008), 363.
doi: 10.1007/s10957-007-9330-x. |
[17] |
D. Heyman and M. J. Sobel, "Stochastic Models in Operations Research Volume II: Stochastic Optimization,", 1st edition, (1984). Google Scholar |
[18] |
T. Ho, S. Savin and C. Terwiesch, Managing demand and sale dynamics in new product diffusion under supply constraint,, Management Science, 48 (2002), 187.
doi: 10.1287/mnsc.48.2.187.257. |
[19] |
D. Jain, V. Mahajan and E. Muller, Innovation diffusion in the presence of supply restrictions,, Marketing Science, 10 (1991), 83.
doi: 10.1287/mksc.10.1.83. |
[20] |
S. JØrgensen, S. Taboubi and G. Zaccour, Cooperative advertising in a marketing channel,, Journal of Optimization Theory and Applications, 110 (2001), 145.
doi: 10.1023/A:1017547630113. |
[21] |
S. Kalish, Monopolist pricing with dynamic demand and production cost,, Marketing Science, 2 (1983), 135.
doi: 10.1287/mksc.2.2.135. |
[22] |
S. Kalish, A new product adoption model with price, advertising and uncertainty,, Management Science, 31 (1985), 1569.
doi: 10.1287/mnsc.31.12.1569. |
[23] |
T. V. Krishnan, F. M. Bass and D. C. Jain, Optimal pricing strategy for new products,, Management Science, 45 (1999), 1650.
doi: 10.1287/mnsc.45.12.1650. |
[24] |
T. V. Krishnan and D. C. Jain, Optimal dynamic advertising policy for new products,, Management Science, 52 (2006), 1957.
doi: 10.1287/mnsc.1060.0585. |
[25] |
S. Kumar and J. M. Swaminathan, Diffusion of innovations under supply constraints,, Operations Research, 51 (2003), 866.
doi: 10.1287/opre.51.6.866.24918. |
[26] |
S. Kumar and S. P. Sethi, Dynamic pricing and advertising for web content providers,, European Journal of Operational Research, 197 (2009), 924.
doi: 10.1016/j.ejor.2007.12.038. |
[27] |
R. N. Laczniak, T. E. DeCarlo and S. N. Ramaswami, Consumers' responses to negative word-of-mouth communication: An attribution theory perspective,, Journal of Consumer Psychology, 11 (2001), 57.
doi: 10.1207/S15327663JCP1101_5. |
[28] |
G. T. Lau and S. Ng, Individual and situational factors influencing negative word-of-mouth behaviour,, Canadian Journal of Administrative Sciences, 18 (2009), 163.
doi: 10.1111/j.1936-4490.2001.tb00253.x. |
[29] |
X. Luo, Quantifying the long-term impact of negative word of mouth on cash flows and stock prices,, Marketing Science, 28 (2009), 148.
doi: 10.1287/mksc.1080.0389. |
[30] |
E. Mansfield, Technical change and the rate of imitation,, Econometrica, 29 (1961), 741.
doi: 10.2307/1911817. |
[31] |
V. Mahajan, E. Muller and F. M. Bass, New product diffusion models in marketing: A review and directions for research,, Journal of Marketing Research, 54 (1990), 1. Google Scholar |
[32] |
V. Mahajan, E. Muller and R. A. Kerin, Introduction strategy for new products with positive and negative word-of-mouth,, Management Science, 30 (1984), 1389.
doi: 10.1287/mnsc.30.12.1389. |
[33] |
V. Mahajan, E. Muller and Y. Wind, "New-Product Diffusion Models,", 1st edition, (2000). Google Scholar |
[34] |
H. I. Mesak and J. W. Clark, Monopolist optimum pricing and advertising policies for diffusion models of new product innovations,, Optimal Control Applications and Methods, 19 (1998), 111.
doi: 10.1002/(SICI)1099-1514(199803/04)19:2<111::AID-OCA622>3.0.CO;2-M. |
[35] |
M. L. Richins, Negative word-of-mouth by dissatisfied consumers: a pilot study,, Journal of Marketing, 47 (1983), 68.
doi: 10.2307/3203428. |
[36] |
B. Robinson and C. Lakhani, Dynamic price models for new product planning,, Management Science, 21 (1975), 1113.
doi: 10.1287/mnsc.21.10.1113. |
[37] |
S. P. Sethi and G. L. Thompson, "Optimal Control Theory,", 2nd edition, (2000). Google Scholar |
[38] |
H. Simon and K. H. Sebastian, Diffusion and advertising: the german telephone campaign,, Management Science, 33 (1987), 451.
doi: 10.1287/mnsc.33.4.451. |
[39] |
J. Singh, Voice, exit, and negative word-of-mouth behaviors: An investigation across three service categories,, Journal of the Academy of Marketing Science, 18 (1990), 1.
doi: 10.1007/BF02729758. |
[40] |
G. L. Thomposon, S. P. Sethi and J-T. Teng, Strong planning and forecast horizons for a model with simultaneous price and production decisions,, European Journal of Operational Research, 16 (1984), 378.
doi: 10.1016/0377-2217(84)90292-3. |
[41] |
F. V. Wangenheim, Postswitching negative word of mouth,, Journal of Service Research, 8 (2005), 67.
doi: 10.1177/1094670505276684. |
[42] |
I. M. Wetzer, M. Zeelenberg and R. Pieters, Never eat in that restaurant, i did!: exploring why people engage in negative word-of-mouth communication,, Psychology and Marketing, 24 (2007), 661.
doi: 10.1002/mar.20178. |
[43] |
X. Yan and K. Liu, Optimal control problems for a new product with word-of-mouth,, International Journal of Production Economics, 119 (2009), 402.
doi: 10.1016/j.ijpe.2009.03.011. |
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