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Article: THE VARIOUS BRANDS IN THE OPTIMAL PRODUCT LINE VS. THE OPTIMAL SINGLE PRODUCT
- Article from:
- Innovative Marketing
- Article date:
- January 1, 2007
- Author:
CopyrightCopyright Business Perspectives Ltd. 2007. Provided by ProQuest LLC. (Hide copyright information)
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Abstract
In this marketing-oriented era where manufacturers maximize profits through customer satisfaction, there is an increasing need to design a product line rather than a single product. By offering a product line, the manufacturer can customize his or her products to the needs of a variety of segments in order to maximize profits by satisfying more customers than a single product would. Recently, the authors introduced a genetic algorithm to solve this problem. An interesting product design research question is how the profile of an optimal product line differs from an optimal single product? To analyse this question we apply our method to a single product design problem. Surprizingly, ...