Optimal Control over the Process of Innovative Product Diffusion: The Case of Sony Corporation
Optimal Control over the Process of Innovative Product Diffusion: The Case of Sony Corporation
Author(s): Viktor Oliinyk, Olga Kozmenko, Iryna Wiebe, Serhiy KozmenkoSubject(s): Business Economy / Management, Micro-Economics, Policy, planning, forecast and speculation, Financial Markets
Published by: Fundacja Centrum Badań Socjologicznych
Keywords: innovation models; innovation management; forecasting; Bass model;
Summary/Abstract: The article deals with the process of distribution of an innovative product using the Bass model. Numerical characteristics of the generalized Bass model are described. The function of external influence is suggested to be approximated by means of a regression equation with respect to the price function of the product under investigation, which is also a control function. The control process is based on a mathematical apparatus under the Pontryagin maximum principle. An algorithm for determining the optimal price of products in order to obtain the maximum balance profit of the corporation is given. Selected numerical results of the corporate strategy implementation for conquering the market in 2017-2020 are offered.
Journal: Economics and Sociology
- Issue Year: 11/2018
- Issue No: 3
- Page Range: 265-285
- Page Count: 21
- Language: English
