Abstract:A new product's introduction to the market is greatly influenced by effective and enough advertising. In this paper, we have considered a problem in which the firm partitions the market into various segments to reduce costs associated with advertising and targets to maximize the total profit. By integrating single channel and differentiated advertising to segmented market, we extend Nerlove-goodwill Arrow's dynamic model in which advertising variables are control variables. It is assumed that the whole availab… Show more
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