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Full-Text Articles in Physical Sciences and Mathematics
Analyzing A Smartphone Battle Using Bass Competition Model, Maila Hallare, Alireza Hosseinkhan, Hasala Senpathy K. Gallolu Kankanamalage
Analyzing A Smartphone Battle Using Bass Competition Model, Maila Hallare, Alireza Hosseinkhan, Hasala Senpathy K. Gallolu Kankanamalage
CODEE Journal
Many examples of 2x2 nonlinear systems in a first-course in ODE or a mathematical modeling class come from physics or biology. We present an example that comes from the business or management sciences, namely, the Bass diffusion model. We believe that students will appreciate this model because it does not require a lot of background material and it is used to analyze sales data and serve as a guide in pricing decisions for a single product. In this project, we create a 2x2 ODE system that is inspired by the Bass diffusion model; we call the resulting system the Bass …
Find, Process, And Share: An Optimal Control In The Vidale-Wolfe Marketing Model, Michael C. Barg
Find, Process, And Share: An Optimal Control In The Vidale-Wolfe Marketing Model, Michael C. Barg
CODEE Journal
The Vidale-Wolfe marketing model is a first-order, linear, non-homogeneous ordinary differential equation (ODE) where the forcing term is proportional to advertising expenditure. With an initial response in sales as the initial condition, the solution of the initial value problem is straightforward for a first undergraduate ODE course. The model serves as an excellent example of many relevant topics for those students whose interests lie in economics, finance, or marketing. Its inclusion in the curriculum is particularly rewarding at an institution without a physics program. The model is not new, but it was novel to us when a group of students …