• 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