Integrating social network effects in the share-of-choice problem

Name: Integrating social network effects in the share-of-choice problem
Author: Danış, Dilek Günneç, Raghavan, S.

İsim	Integrating social network effects in the share-of-choice problem
Yazar	Danış, Dilek Günneç, Raghavan, S.
Basım Tarihi:	2017-12
Basım Yeri	- Wiley
Konu	Genetic algorithm, Marketing, Optimization, Peer Influence, Product design, Social networks
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	0011-7315
Kayıt Numarası	d8348263-c37a-4ba8-af6c-6ae53f2dec57
Lokasyon	Industrial Engineering
Tarih	2017-12
Örnek Metin	Accounting for social network effects in marketing strategies has become an important issue. Taking a step back, we seek to incorporate and analyze social network effects on new product development and then propose a model to engineer product diffusion over a social network. We build upon the share-of-choice (SOC) problem, which is a strategic combinatorial optimization problem used commonly as one of the methods to analyze conjoint analysis data by marketers in order to identify a product with largest market share, and show how to incorporate social network effects in the SOC problem. We construct a genetic algorithm to solve this computationally challenging (NP-Hard) problem and show that ignoring social network effects in the design phase results in a significantly lower market share for a product. In this setting, we introduce the secondary operational problem of determining the least expensive way of influencing individuals and strengthening product diffusion over a social network. This secondary problem is of independent interest, as it addresses contagion models and the issue of intervening in diffusion over a social network, which are of significant interest in marketing and epidemiological settings.
DOI	10.1111/deci.12246
Cilt	48

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Integrating social network effects in the share-of-choice problem

Yazar Danış, Dilek Günneç, Raghavan, S.

Basım Tarihi 2017-12

Basım Yeri - Wiley

Konu Genetic algorithm, Marketing, Optimization, Peer Influence, Product design, Social networks

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 0011-7315

Kayıt Numarası d8348263-c37a-4ba8-af6c-6ae53f2dec57

Lokasyon Industrial Engineering

Tarih 2017-12

Örnek Metin Accounting for social network effects in marketing strategies has become an important issue. Taking a step back, we seek to incorporate and analyze social network effects on new product development and then propose a model to engineer product diffusion over a social network. We build upon the share-of-choice (SOC) problem, which is a strategic combinatorial optimization problem used commonly as one of the methods to analyze conjoint analysis data by marketers in order to identify a product with largest market share, and show how to incorporate social network effects in the SOC problem. We construct a genetic algorithm to solve this computationally challenging (NP-Hard) problem and show that ignoring social network effects in the design phase results in a significantly lower market share for a product. In this setting, we introduce the secondary operational problem of determining the least expensive way of influencing individuals and strengthening product diffusion over a social network. This secondary problem is of independent interest, as it addresses contagion models and the issue of intervening in diffusion over a social network, which are of significant interest in marketing and epidemiological settings.

DOI 10.1111/deci.12246

Cilt 48