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Advertising in Duopoly Market

By Hokky Situngkir

Abstract

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. We showed how important advertising in marketing a product is. We 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. We also draw some illustrative models to be mproved as a further work

Topics: Dynamical Systems, Complexity Theory, Sociobiology, Economics, Social simulation, Social Psychology
Year: 2006
OAI identifier: oai:cogprints.org:5263

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