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Owing to the competitive structure of the market, firms concentrate excessively on promotional activities to maximize their profit. In this paper, we formulate an optimal control problem to find promotional effort policies for the case when the firm promotes its product at mass and segment specific level in a segmented market. The adoption is measured through the innovation diffusion model with respect...
The decision of selecting the right product from market is getting tedious these days from customers point of view, as firms offering product at low cost do not provide the assurance that the product will work as desired by the consumer whereas companies providing good quality products sell their product at relatively high prices. As a customer, a person looks around for a product which is low in...
This paper presents a new approach to a fuel-optimal impulsive control problem of the guided projectile by using an improved particle swarm optimization technique. The problem is interpreted by using optimal control theory resulting in the formulation of minimum-fuel impulse control problem. The formulation entails nonlinear, 3-dimensional projectile flight dynamics, boundary conditions and discontinuous...
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