Kennedy, Adrian; Prasad, Ashutosh; Sethi, Suresh; Siu, … - 2022
This paper studies the optimal advertising policy over the product life cycle of a semi-durable good whose failure rate … directly, consumers influenced by advertising, and loyal customers making replacements. The revenue stream is composed of sales … with both durable and non-durable properties and solve using optimal control. The guidelines for advertising during new …