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Sethi model

Index Sethi model

The Sethi model was developed by Suresh P. Sethi and describes the process of how sales evolve over time in response to advertising. [1]

12 relations: Advertising, Bass diffusion model, Brownian motion, Differential game, Diffusion of innovations, Nash equilibrium, Optimal control, Stackelberg competition, Stochastic differential equation, Suresh P. Sethi, White noise, Wiener process.

Advertising

Advertising is an audio or visual form of marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.

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Bass diffusion model

The Bass Model or Bass Diffusion Model was developed by Frank Bass.

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Brownian motion

Brownian motion or pedesis (from πήδησις "leaping") is the random motion of particles suspended in a fluid (a liquid or a gas) resulting from their collision with the fast-moving molecules in the fluid.

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Differential game

In game theory, differential games are a group of problems related to the modeling and analysis of conflict in the context of a dynamical system.

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Diffusion of innovations

Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread.

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Nash equilibrium

In game theory, the Nash equilibrium, named after American mathematician John Forbes Nash Jr., is a solution concept of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.

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Optimal control

Optimal control theory deals with the problem of finding a control law for a given system such that a certain optimality criterion is achieved.

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Stackelberg competition

The Stackelberg leadership model is a strategic game in economics in which the leader firm moves first and then the follower firms move sequentially.

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Stochastic differential equation

A stochastic differential equation (SDE) is a differential equation in which one or more of the terms is a stochastic process, resulting in a solution which is also a stochastic process.

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Suresh P. Sethi

Suresh P. Sethi is Eugene McDermott Chair Professor of Operations Management and Director of the Center for Intelligent Supply Networks (C4ISN) at The University of Texas at Dallas.

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White noise

In signal processing, white noise is a random signal having equal intensity at different frequencies, giving it a constant power spectral density.

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Wiener process

In mathematics, the Wiener process is a continuous-time stochastic process named in honor of Norbert Wiener.

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Sethi Advertising Model, Sethi advertising model.

References

[1] https://en.wikipedia.org/wiki/Sethi_model

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