Title :
Application of Optimal Control Theory to False Failure Returns
Author_Institution :
Sch. of Comput. Sci. & Technol., Tianjin Univ. of Technol., Tianjin, China
fDate :
July 31 2012-Aug. 2 2012
Abstract :
This study investigates the impact of retail price and sale service investment on customer demand and false failure return under dynamic environment. We apply optimal control theory to a profit-maximization model that takes into consideration the price and sale service investment. The optimal strategies are obtained under two certain special conditions. The result of this paper can advise the control of false failure returns under dynamic environment.
Keywords :
dynamic programming; optimal control; customer demand; dynamic environment; false failure returns; optimal control theory; profit maximization model; retail price; sale service investment; Computational modeling; Investments; Marketing and sales; Optimal control; Pricing; Stochastic processes; Warranties; false failure returns; optimal control; price; sale service;
Conference_Titel :
Digital Manufacturing and Automation (ICDMA), 2012 Third International Conference on
Conference_Location :
GuiLin
Print_ISBN :
978-1-4673-2217-1
DOI :
10.1109/ICDMA.2012.61
