• Title/Summary/Keyword: value strategy

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The Optimum StrategyWhen p>1/2 in Red & black (적흑게임에서 p>1/2인 경우의 최적전략)

  • 석영우;안철환
    • Journal of the military operations research society of Korea
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    • v.29 no.1
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    • pp.1-7
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    • 2003
  • In a game called red and black, you can stake any amount s in your possession. Suppose you. goal is 1 and you. current fortune is i with 0 < f < 1. You win back your stake and as much more with probability p and lose your stake with probability, q = 1 - p. Ahn(2000) considered optimum strategy for this game with the value of p greater than \frac{1}{2} where the player has the advantage over the house. The optimum strategy at any when p>\frac{1}{2} is to play timidly, which is to bet a small amount each time. In this paper we perform the simulation study to show that the Timin strategy is optimum.

Equilibrium Bidding Strategy and Optimal Auction Design of Sequential Auction (축차경매의 평형입찰전략과 최적경매설계)

  • Kim, Yea-Gen;Park, Soon-Dal
    • Journal of the military operations research society of Korea
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    • v.14 no.1
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    • pp.63-83
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    • 1988
  • This study is concerned with the equilibrium bidding strategy and the optimal auction design of sequential auction with a reserve price and an entry fee. It is assumed that each bidder has a fixed reservation value and draws the reservation values of other bidders independently in the same distribution and may obtain at most one object to be sold. Under such assumptions, the sequential auction will be analyzed by the game theoretic approach. The purpose of this paper is, in the sequential auction, to find the equilibrium bidding strategy and to design the optimal auction under the equilibrium bidding strategy. The equilibrium bidding strategy and the optimal auction design are further analyzed with respect to change of the reserve price, the entry fee, and the number of bidders and objects. Specially, the auctioneer's expected revenue for each auction is obtained and analyzed.

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A Nodes Set Based Hybrid Evolutionary Strategy on the Rectilinear Steiner Tree Problem (점집합을 개체로 이용한 직각거리 스타이너 나무 문제의 하이브리드 진화 전략에 관한 연구)

  • Yang Byoung-Hak
    • Korean Management Science Review
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    • v.23 no.1
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    • pp.75-85
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    • 2006
  • The rectilinear Steiner tree problem (RSTP) is to find a minimum-length rectilinear interconnection of a set of terminals in the plane. It is well known that the solution to this problem will be the minimal spanning tree(MST) on some set Steiner points. The RSTP is known to be NP-complete. The RSTP has received a lot of attention in the literature and heuristic and optimal algorithms have been proposed. A key performance measure of the algorithm for the RSTP is the reduction rate that is achieved by the difference between the objective value of the RSTP and that of the MST without Steiner points. A hybrid evolutionary strategy on RSTP based upon nodes set is presented. The computational results show that the hybrid evolutionary strategy is better than the previously proposed other heuristic. The average reduction rate of solutions from the evolutionary strategy is about 11.14%, which is almost similar to that of optimal solutions.

Equilibrium Bidding Strategy and Optimal Auction Design of Sequential Auction (축차경매의 평형입찰전략과 최적경매설계)

  • Kim, Yea-Gen;Park, Soon-Dal
    • Journal of the military operations research society of Korea
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    • v.13 no.2
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    • pp.63-83
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    • 1987
  • This study is concerned with the equilibrium bidding strategy and the optimal auction design of sequential auction with a reserve price and an entry fee. It is assumed that each bidder has a fixed reservation value and draws the reservation values of other bidders independently in the same distribution and may obtain at most one object to be sold. Under such assumptions, the sequential auction will be analyzed by the game theoretic approach. The purpose of this paper is, in the sequential auction, to find the equilibrium bidding strategy and to design the optimal auction under the equilibrium bidding strategy. The equilibrium bidding strategy and the optimal auction design are further analyzed with respect to change of the reserve price, the entry fee, and the number of bidders and objects. Specially, the auctioneer's expected revenue for each auction is obtained and analyzed.

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DC-Link Capacitor Voltage Balanced Modulation Strategy Based on Three-Level Neutral-Point-Clamped Cascaded Rectifiers

  • Han, Pengcheng;He, Xiaoqiong;Zhao, Zhiqin;Yu, Haolun;Wang, Yi;Peng, Xu;Shu, Zeliang
    • Journal of Power Electronics
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    • v.19 no.1
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    • pp.99-107
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    • 2019
  • This study proposes a new modulation strategy to deal with unbalanced output voltage that is based on three-level neutral-point-clamped cascaded rectifiers. The fundament idea is to reallocate the value of the voltage levels generated by each of the modules on the basis of space vector pulse width modulation. This proposed modulation strategy can reduce the switching frequency while maintaining the mutual-module voltage balance. First, an analysis of unbalanced output voltage is reflected. Then a new modulation strategy is introduced in detail. Internal module capacitor voltages are balanced by the selection of redundant vectors. Moreover, the voltage balance ability is calculated. Finally, the feasibility of this modulation strategy is verified through experimental results.

A Corroborate Study for Brand Positioning Strategy - Focusing on Bridge Line Imported Handbag Brands - (브랜드 포지셔닝 전략(戰略)에 관(關)한 사례(事例) 연구(硏究) - 브릿지 라인 수입(輸入) 핸드백 브랜드를 중심(中心)으로 -)

  • Jang, Ji-Hye;Cho, Kyu-Hwa
    • Journal of Fashion Business
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    • v.9 no.5
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    • pp.96-113
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    • 2005
  • The purpose of this study was to examine acutely effective marketing strategies for bridge line imported handbag brands in order to succeed in launch and establishment in local market. Based on the successful bridge line imported handbag brands status in local market, this selected the brands, "LeSprotsac", "Longchamp", "Sequoia" that execute brand strategy including positioning strategies such as basic concept, prices, materials, promotion, distributions in order to succeed in local launching. For corroborate analysis, three staffs in each brands, consecutive in-person interviews and continuous telephone interviews, mail survey were used for this study. The results were as follows; First, differentiate brand positioning strategy that has considered accurate analysis of niche market and domestic market environment when brand launch effects on brand value enhancement. Second, marketing mix activity based on positioning strategy effects on establishing brand image and spreading brand awareness. Third, marketing activity based on positioning strategy should be executed based on consistent brand strategy.

Effects of Marketing Strategy on Brand attitude, Store affect, and Store loyalty: A comparison between Global and Korean SPA brands (마케팅 전략이 브랜드 태도, 점포감정, 점포충성도에 미치는 효과: 글로벌 SPA 대 한국형 SPA 비교)

  • Ko, Soon Hwa;Kim, Eun Young
    • Fashion & Textile Research Journal
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    • v.16 no.3
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    • pp.386-395
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    • 2014
  • This study was to identify underlying dimension of marketing strategy, and to examine effect of the marketing strategic factors on store affect, brand attitude, and brand loyalty in global and domestic SPA brands. Based on pilot study, four SPA brands of which consumers were most aware were selected: Korean SPAs (e.g., Codes-Combine, Basic House) and global brands (e.g., Zara and Uniqlo). A self-administered questionnaire was developed based on literatures. By using intercept survey, 421 respondents were obtained from consumers shopping at the selected SPA retail stores located in cities (Seoul, Daejon, Chongju) in Korea. Result showed that SPA brand marketing strategy consisted of four factors: Product differentiation, store location, in-store VMD, and price value. The marketing strategic factors had partially significant effects on brand attitude, store affect and store loyalty. However, there was significant differences in those effects between global and Korean SPA brands. Specifically, the effect of in-store VMD on brand attitude was higher in Korean SPA brands, whereas the effect of price value was higher in global SPA brand. Also, the price value was significant predictor of store affects in global SPAs, while in-store VMD was significant predictor of store loyalty in Korean SPA brands. This study discussed a managerial implication for creating brand attitude and emotional responses, which obtains comparative advantages in the competing marketplace.

Value Co-creation Modeling of DonorsChoose's Donation-based Crowdfunding (DonorsChoose의 기부형 크라우드펀딩에 기반한 가치공동창출 모델링)

  • Yoo, Hanna;Lee, Su Jin;Min, Dong Kwon
    • Journal of Information Technology Services
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    • v.20 no.2
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    • pp.127-146
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    • 2021
  • Donation-based crowdfunding(DBC) is conducted from voluntary participation by project operators. It requires a different operational strategy than general crowdfunding. However, there is a limited amount of research on the operational strategy of DBC. This study explores the value co-creation(VCC) strategy of DBC and analyzes the operation of DonorsChoose.org. The research questions encompass the following: First, we identify the VCC activities of DBC. Second, we uncover activities of the platform operators that facilitate the participation of project operators in VCC activities. Third, we explore how VCC activities affect project operational performance and platform performance in DBC. By adopting a single case study method on DonorsChoose.org, this study provides meaningful insight and detailed understanding into the VCC in DBC. First, VCC processes of DBC are identified(Co-ideation, Co-design, Co-funding, Co-operation, and Co-evaluation). Also, interactions between platform operators and project operators were defined at each stage. Second, this study confirmed that standardization and simplification of platform operators, support for pre- and post-activity, and high-quality information delivery activities were critical. Third, we confirm that these VCC activities improve VCC operational performance and platform performance. The theoretical significance of this study is that the concept of VCC, previously concentrated on participants with economic drivers(consumers and investors), has been applied to the context of DBC, a form of participation by participants with non-economic drivers(supporters and donors). In addition, this study practically contributes to the practice of VCC strategy among various platform operating strategies in DBC.

A study on the CRM strategy for medium and small industry of distribution (중소유통업체의 CRM 도입방안에 관한 연구)

  • Kim, Gi-Pyoung
    • Journal of Distribution Science
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    • v.8 no.3
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    • pp.37-47
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    • 2010
  • CRM refers to the operating activities that always maintain and promote good relationship with customers to ultimately maximize the company's profits by understanding the value of customers to meet their demands, establishing a strategy which may maximize the Life Time Value and successfully operating the business by integrating the customer management processes. In our country, many big businesses are introducing CRM initiatively to use it in marketing strategy however, most medium and small sized companies do not understand CRM clearly or they feel difficult to introduce it due to huge investment needed. This study is intended to present CRM promotion strategy and activities plan fit for the medium and small sized companies by analyzing the success factors of the leading companies those have already executed CRM by surveying the precedents to make the distributors out of the industries have close relation with consumers to overcome their weakness in scale and strengthen their competitiveness in such a rapidly changing and fiercely competing market. There are 5 stages to build CRM such as the recognition of the needs of CRM establishment, the establishment of CRM integrated database, the establishment of customer analysis and marketing strategy through data mining, the practical use of customer analysis through data mining and the implementation of response analysis and close loop process. Through the case study of leading companies, CRM is needed in types of businesses where the companies constantly contact their customers. To meet their needs, they assertively analyze their customer information. Through this, they develop their own CRM programs personalized for their customers to provide high quality service products. For customers helping them make profits, the VIP marketing strategy is conducted to keep the customers from breaking their relationships with the companies. Through continuous management, CRM should be executed. In other words, through customer segmentation, the profitability for the customers should be maximized. The maximization of the profitability for the customers is the key to CRM. These are the success factors of the CRM of the distributors in Korea. Firstly, the top management's will power for CS management is needed. Secondly, the culture across the company should be made to respect the customers. Thirdly, specialized customer management and CRM workers should be trained. Fourthly, CRM behaviors should be developed for the whole staff members. Fifthly, CRM should be carried out through systematic cooperation between related departments. To make use of the case study for CRM, the company should understand the customer and establish customer management programs to set the optimal CRM strategy and continuously pursue it according to a long-term plan. For this, according to collected information and customer data, customers should be segmented and the responsive customer system should be designed according to the differentiated strategy according to the class of the customers. In terms of the future CRM, integrated CRM is essential where the customer information gathers together in one place. As the degree of customers' expectation increases a lot, the effective way to meet the customers' expectation should be pursued. As the IT technology improved rapidly, RFID (Radio Frequency Identification) appears. On a real-time basis, information about products and customers is obtained massively in a very short time. A strategy for successful CRM promotion should be improving the organizations in charge of contacting customers, re-planning the customer management processes and establishing the integrated system with the marketing strategy to keep good relation with the customers according to a long-term plan and a proper method suitable to the market conditions and run a company-wide program. In addition, a CRM program should be continuously improved and complemented to meet the company's characteristics. Especially, a strategy for successful CRM for the medium and small sized distributors should be as follows. First, they should change their existing recognition in CRM and keep in-depth care for the customers. Second, they should benchmark the techniques of CRM from the leading companies and find out success points to use. Third, they should seek some methods best suited for their particular conditions by achieving the ideas combining their own strong points with marketing. Fourth, a CRM model should be developed that will promote relationship with individual customers just like the precedents of small sized businesses in Switzerland through small but noticeable events.

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Implementation Strategy of Hypothesis Decision Using Rejection Region Approach and P-Value Approach (RR 접근방법과 P-Value 접근방법을 이용한 가설판정의 적용방안)

  • Choi, Sung-Woon
    • Proceedings of the Safety Management and Science Conference
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    • 2012.11a
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    • pp.431-434
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    • 2012
  • The paper reviews properties of hypothesis decision approaches using rejection region and significance probability. The study also presents the guidelines for quality practioners to implement most useful hypothesis testing techniques such as RR(Rejection Region) approach and P-Value approach.

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