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Author: search.filters.author.Chanda, UdayanSubject: search.filters.subject.Successive Technology Generations

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    Optimal Advertising Campaign Duration of Successive Generation Product using Diffusion of Information
    (SCMS, Noida, 2014) Chanda, Udayan
    In the today’s global environment , competition is stiff. Marketers are continuously introducing successive generations of product based on latest technology, either to continue to be the leading brands or due to market forces. Due to the dynamic nature of the market, it becomes essential to integrate technological substitution along with diffusion of new products. Advertising of multiple products or multiple generation of a present product involves selecting appropriate advertising medium, analyzing the target market and appropriate utilization of the available advertising budget. An advertising medium demands a huge proportion of the firms’ budget to be spent on advertising and therefore determination of an optimal duration of the advertising campaign becomes extremely important for any marketing manager. For an advanced technology product , advertising at right time become even more important. This study developed a mathematical model to determine the optimal duration of an advertising campaign for an advanced generation product based on diffusion of information in a social group. The optimal timing depends on diffusion coefficient, population size, ad cost per time unit, unit price etc. The model is based on the assumption that technological advancements do not essentially imply that existing generation products will be withdrawn from the market immediately.
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    Optimal duration of advertising campaigns for successive technology generations using innovation diffusion theory
    (Inder Science, 2017-02) Chanda, Udayan
    Global market and tough competition compels a firm to continuously conceive new ideas and introduce new technologies in the market. As a result, often more than one generation products compete in the same market; creating an incredible pressure on managers for balanced advertising campaigns for the existing product generations. Advertising of multi-generation product involves selection of appropriate advertising medium, analysing the target market and appropriate utilisation of the available advertising budget. Effective advertising campaign is critical for success of a product in the market. Hence, finding the optimal advertising campaign duration is important as huge chunk of a firm's budget is allocated for this purpose. For, successive technology generations, advertising at right time become even more important. This study developed a mathematical model to determine the optimal duration of advertising campaigns for successive generations product based on diffusion of information in a social group. The optimal timing depends on diffusion coefficient, population size, advertising cost per time unit, unit price, etc.
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    Economic order quantity model for two generation consecutive technology products under permissible delay in payments
    (IDEAS is a RePEc, 2021) Chanda, Udayan; Nagpal, Gaurav
    In this article, we discussed optimal replenishment policies for two succeeding generations' technology products under partial trade credit financing. It is often seen that in technology market, advanced generation product plays an important role in cannibalising the market of existing generation product. Thus, precise estimation of demand of technology generations' product is critical for taking any policy decisions. Demand estimation of technology products is a complex process, as the consumer buying behaviour of technology generational products is not only depends on marketing mix variables but also associated with the time-to-market phenomenon of new technologies. In technology market, interaction among users of different generational products controls the rate of substitution of older technology products with the new one. Therefore, due to the substitution nature of demand of multi-generation product, it is important to incorporate the interaction-substitution effect in replenishment policies for this kind of products. We used life cycle dynamics to project demand rates of technology generations. In this paper, we formulate the total cost function for five different situations depending upon the new generation introduction timing and length of the trade credit period. A detail sensitivity analysis is been performed to explore the efficacy of the model in a given situation.
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    Optimal inventory policies for short life cycle successive generations’ technology products
    (Taylor & Francis, 2021-03) Chanda, Udayan; Nagpal, Gaurav
    In this paper, a new Economic Order Quantity (EOQ) model for a successive generation of technology products has been discussed. The classical EOQ model is based on the assumption that the demand rate is constant. Hence it cannot be used for technology products where competition-substitution among products is a usual phenomenon. To address this problem, the EOQ model proposed in this article is considered a demand model for a technology product that follows the innovation-diffusion process. A numerical example has been illustrated and a comprehensive sensitivity analysis is conducted to understand the path of the optimal planning horizon and optimal costs under varied innovation and imitation effect. The sensitivity analysis of the introduction timing of the second generation has been performed to know the applicability of the model in actual circumstances. The behavior of the model has been discussed in detail in the numerical illustration section.
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    Inventory replenishment policies for two successive generations price-sensitive technology products
    (American Institute of Mathematical Sciences, 2022-05) Chanda, Udayan; Nagpal, Gaurav
    The high technology products come in generations, where the demand for newer technology generations is strongly influenced by the installed base of earlier generations (such as computers, cameras, notebooks, etc). However, the effect of technology substitution on inventory replenishment policies has received little attention in the supply chain literature. In the hi-technology market, consumers' purchasing capability, the utility of a product along with the entry of the advanced generation product influence the market expansion/contraction of the products. In this study, the impact of parallel diffusion of two successive generations' products on inventory policies of the monopolist has been analysed. The demand models have been characterised by considering the life-cycle dynamics for a P-type inventory system. The purpose of this paper is to develop a model for joint pricing and replenishment of technology generation products. The model has been solved by using a genetic algorithm technique. The impact of yearly price drop and the price sensitivity of demand on the profit margins vis-à-vis on replenishment policies has also been studied. The paper also brings forward the dynamics of the launch of newer generations and the pricing strategies on optimal inventory replenishment policies. Numerical illustrations have also been covered in the paper.