Multi-product multi-market model for co-ordination of marketing and production decisions

A multi-product multi-market segment optimal control model for coordinating marketing and production decisions in a firm is presented. On the marketing side, the model considers pricing and the rate of advertising expenditure for each product for each market segment as decision (i.e. control) variables. On the production side, the production rate for an individual product is considered as a decision variable. The model assumes that demand for a …