Advertising In Duopoly Market
Source: Munich Personal Repec Archive
The paper presents the dynamics of consumer preferences over two competing products acting in duopoly market. The model presented compared the majority and minority rules as well as the modified Snazjd model in the Von Neumann neighborhood. The authors showed how important advertising in marketing a product is. They show that advertising should also consider the social structure simultaneously with the content of the advertisement and the understanding to the advertised product. Some theoretical explorations are discussed regarding to size of the market, evaluation of effect of the advertising, the types of the advertised products, and the social structure of which the product is marketed. They also draw some illustrative models to be improved as a further work.