Application of Markov Graphs in Marketing

Details Application of Markov Graphs in Marketing Application of Markov Graphs in Marketing

Apr 2007

adsabs.harvard.edu/cgi-bin/nph-data_query?bibcode=2007aipc..899..760b&link_type=abstract

SIXTH INTERNATIONAL CONFERENCE OF THE BALKAN PHYSICAL UNION. AIP Conference Proceedings, Volume 899, pp. 760-760 (2007).

Physics

Economics, Econophysics, Financial Markets, Business And Management, Markov Processes

Scientific paper

The applications of Markov's processes theory in marketing are discussed. It was turned out that Markov's processes have wide field of applications. The advancement of marketing by the use of convolution of stationary Markov's distributions is analysed. It turned out that convolution distribution gives average net profit that is two times higher than the one obtained by usual Markov's distribution. It can be achieved if one selling chain is divided onto two parts with different ratios of output and input frequencies. The stability of marketing system was examined by the use of conforming coefficients. It was shown, by means of Jensen inequality that system remains stable if initial capital is higher than averaged losses.

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