A multi objective geometric programming approach for electronic product pricing problem

Management Science Letters. 2011;1(3):371-378


Journal Homepage

Journal Title: Management Science Letters

ISSN: 1923-9335 (Print); 1923-9343 (Online)

Publisher: Growing Science

LCC Subject Category: Social Sciences: Commerce: Business: Business records management

Country of publisher: Canada

Language of fulltext: English

Full-text formats available: PDF



Mohsen Fathollah Bayati
Ahmad Makui


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Time From Submission to Publication: 20 weeks


Abstract | Full Text

Nowadays electronic commerce plays an important role in many business activities, operations, and transaction processing. The recent advances on e-businesses have created tremendous opportunities to increase profitability. This paper presents a multi-objective marketing planning model which simultaneously determines efficient marketing expenditure, service cost and product's selling price in two competitive markets. To solve the proposed model, we discuss a multi-objective geometric programming (GP) approach based on compromise programming method. Since our proposed model is a signomial GP and global optimality is not guaranteed for the problem, we transform the model to posynomial form. Finally, the solution procedure is illustrated via a numerical example and a sensitivity analysis is presented.