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.
|Number of pages||10|
|Journal||Naval Research Logistics Quarterly|
|Publication status||Published - May 1986|
ASJC Scopus subject areas