DocumentCode
642816
Title
The newer aspects of optimization of market firm strategy in contemporary conditions
Author
Pataki, Eva ; Sagi, Andras ; Jozsef, Kabok
Author_Institution
Polytech. Eng. Coll., Subotica, Serbia
fYear
2013
fDate
26-28 Sept. 2013
Firstpage
93
Lastpage
97
Abstract
The authors consider the possibilities of completing market enterprise strategy in two market situations in contemporary conditions of the existence of potential competitors on a perfect monopolistic market, and in the conditions of including elements of the so-called non-price competitions, i.e. the so-called “sales effort” in the model of the long-term balance in monopoly competition. In the first part of the work, alternative strategies of monopolists in case of the appearance of potential competitors are considered: the Sylos model of optimal price to prevent the access of competitors to monopolistic markets and the model of Worcester hypothesis of independent profit maximization in monopoly. The second part presents the model modifications of the long-term profit maximization in the market of differentiated products, i.e. the markets of monopoly competition because of including the so-called promotion costs in the enterprise model of supply optimization.
Keywords
monopoly; optimisation; pricing; Sylos model; Worcester hypothesis model; contemporary conditions; enterprise model; independent profit maximization; long-term profit maximization; market enterprise strategy; market firm strategy; monopoly competition; nonprice competitions; optimal price; perfect monopolistic market; promotion costs; sales effort; supply optimization; Monopoly; Optimization; Pricing; Product design; Production; Quality assessment; “sales efforts”; Sylos postulate; hypothesis of independent maximization; non-price competition; potential competition;
fLanguage
English
Publisher
ieee
Conference_Titel
Intelligent Systems and Informatics (SISY), 2013 IEEE 11th International Symposium on
Conference_Location
Subotica
Print_ISBN
978-1-4799-0303-0
Type
conf
DOI
10.1109/SISY.2013.6662549
Filename
6662549
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