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
Link To Document :
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