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An entropy model for marketing structure analysis and price decision of new brand

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  • Ikuo Arizono
  • Hiroshi Ohta

Abstract

The concept of maximum entropy has been applied to specify the probabilistic model of consumer purchase behavior. This article is concerned with the marketing structure analysis based on entropy model when a new brand has pushed into the existing two‐brand market. A comparison between the proposed model and the initial three‐brand model is attempted based on their marketing structures. An optimal price decision maximizing the sales is also discussed.

Suggested Citation

  • Ikuo Arizono & Hiroshi Ohta, 1986. "An entropy model for marketing structure analysis and price decision of new brand," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 33(2), pages 251-260, May.
    • Handle: RePEc:wly:navlog:v:33:y:1986:i:2:p:251-260
    DOI: 10.1002/nav.3800330208
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