A multi objective geometric programming approach for electronic product pricing problem
Nowadays electronic commerce plays an important role in many business activities, operations, and transaction processing. The recent advances on e-businesses have created tremendous opportunities to increase profitability. This paper presents a multi-objective marketing planning model which simultan...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Growing Science
2011-07-01
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| Series: | Management Science Letters |
| Subjects: | |
| Online Access: | http://www.growingscience.com/msl/Vol1/msl_2011_4.pdf |
| Summary: | Nowadays electronic commerce plays an important role in many business activities, operations, and transaction processing. The recent advances on e-businesses have created tremendous opportunities to increase profitability. This paper presents a multi-objective marketing planning model which simultaneously determines efficient marketing expenditure, service cost and product's selling price in two competitive markets. To solve the proposed model, we discuss a multi-objective geometric programming (GP) approach based on compromise programming method. Since our proposed model is a signomial GP and global optimality is not guaranteed for the problem, we transform the model to posynomial form. Finally, the solution procedure is illustrated via a numerical example and a sensitivity analysis is presented. |
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| ISSN: | 1923-9335 1923-9343 |