Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/33961
Title: Optimal product positioning with consideration of negative utility effect on consumer choice rule
Authors: Luo, XG
Kwong, CK 
Tang, JF
Tu, YL
Keywords: Consumer choice rule
Interval analysis
Product positioning
Tabu search
Issue Date: 2012
Publisher: Elsevier
Source: Decision support systems, 2012, v. 54, no. 1, p. 402-413 How to cite?
Journal: Decision support systems 
Abstract: In most studies related to product positioning, probabilistic consumer choice rules assume that a product always gains some market share no matter how small a product's utility value is or even if the utility value is negative. Some researchers have considered this problem in multidimensional-scaling-based model or share-of-surplus choice rule. In this study, we consider this problem for multinomial logit rule by introducing a piecewise function and establishing a conjoint-analysis-based one-step optimization model for product positioning. Interval analysis is applied to obtain the optimal price of the new product from the model, and the mathematical properties of the profit-maximizing model are analyzed. An interval-analysis-embedded Tabu Search (TS) algorithm is developed for solving the model. An industrial application employing the proposed model and the interval-analysis-based enumeration method is presented and sensitivity analysis is performed. An experiment for randomly created large-scale product positioning problems is carried out to evaluate the feasibility of the proposed TS algorithm.
URI: http://hdl.handle.net/10397/33961
ISSN: 0167-9236
DOI: 10.1016/j.dss.2012.06.002
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