Optimal Goodwill Model with Consumer Recommendations and Market Segmentation

Article, Preprint OPEN
Bogusz, Dominika; Górajski, Mariusz;
  • Publisher: Faculty of Economics and Sociology of the University of Lodz
  • Subject: Optimal Control, applications, deterministic, advertising and media, product policy, segmentation

We propose a new dynamic model of product goodwill where a product is sold in many market segments, and where the segments are indicated by the usage experience of consumers. The dynamics of product goodwill is described by a partial differential equation of the Lotka–S... View more
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