Analysing the Market Situation With the Simulation

Analysing the Market Situation With the Simulation

The model developed in Chapters 2 to 5 is used to find the combination of sales price, subscription rate, life cycle duration, advertising spending, and process improvement spending that yields the highest possible Accumulated profits. During a first phase, the optimal value for each decision variab...

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Bibliographische Detailangaben
Hauptverfasser: Schaffernicht, Martin F. G, Groesser, Stefan N
Format: Buchkapitel
Sprache:eng
Schlagworte:
monopoly
objective setting
profit maximization
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Beschreibung
Zusammenfassung:The model developed in Chapters 2 to 5 is used to find the combination of sales price, subscription rate, life cycle duration, advertising spending, and process improvement spending that yields the highest possible Accumulated profits. During a first phase, the optimal value for each decision variable is searched ceteris paribus, using a method which reduces the number of simulation experiments needed. Then different combinations are compared and eventually the optimal combination is detected. It will be used as benchmark in Chapter 7.
DOI:10.1002/9781119118305.ch6