Abstract
One of the most important goals in marketing is to realize the highest profit by applying appropriate means to optimize the process of acquiring customers. In order to assist the marketer in making marketing decision, this paper introduces a stochastic dynamic programming model for the process of acquiring customers. It is actually a stochastic multistage decision process, whose state space consists of granularized information on customers and whose transitions are controlled by marketing actions. Then it shows how to control this process using fuzzy constraints and how to characterize the goal of maximizing profit by a fuzzy set. After an introduction to dynamic programming under fuzziness this paper further presents a new model of fuzzy dynamic programming to solve the decision problem for a stochastic system with implicitly given termination time.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Bellman, R.E.: Dynamic Programming. Princeton University Press, Princeton, NJ (1957)
Bellman, R.E., Kalaba, R.: Dynamic Programming and Modern Control Theory. Academic Press, New York, London (1965)
Bellman, R.E., Zadeh, L.A.: Decision-Making in a Fuzzy Environment. Management Science 17 (1970) B-141 - B-164
Berry, M.J.A., Linoff, G.: Data Mining Techniques for Marketing, Sales, and Customer Support. Wiley, New York et al. (1997)
Esogbue, A.O., Fedrizzi, M., Kacprzyk, J.: Fuzzy Dynamic Programming With Stochastic Systems. In: Kacprzyk, J., Fedrizzi, M. (Eds.): Combining Fuzzy Imprecision with Probabilistic Uncertainty. Lecture Notes in Economics and Mathematical Systems. Vol. 310, Springer, Berlin et al. (1988)
Finnie, G., Sun, Z., Weber, K.: A Multiagent-based Intelligent Broker Architecture for Bargaining Processes. Proceedings of the Australian Workshop on AI in Electronic Commerce, December 6, 1999, Sydney (1999) 47 - 56
Heuser, H.: Funktionalanalysis. 2, neubearb. Aufl., B. G. Teubner, Stuttgart (1986)
Kacprzyk, J.: Multistage Decision-Making Under Fuzziness. Verlag TÜV Rheinland, Köln (1983)
Kacprzyk, J., Esogbue, A.O.: Fuzzy Dynamic Programming: Main Developments and Applications. Fuzzy Sets and Systems 81 (1996) 31 - 45
Klingsporn, B.: Teilmärkte bilden: Yuppie oder Skippie - wer ist ihr Kunde? Bank Magazin (1996) No. 7, 34 - 42
Kulisch, U.W., Miranker, W.L.: Computer Arithmetic in Theory and Practice. Academic Press, New York et al. (1981)
Küspert, A.: Bildung und Bewertung strategischer Geschäftsfelder. Die Bank (1991) No. 8, 425 - 434
Küspert, A.: Kundengruppenbildung im Privatkundengeschäft von Kreditinstituten - eine Fallstudie. Zeitschrift für Bankrecht und Bankwirtschaft (1992) No. 3, 184 - 201
Link, J., Hildebrand, V.: Database Marketing and Computer Aided Selling. Verlag Franz Vahlen, München (1993)
Viertl, R.: Einführung in die Stochastik. Springer-Verlag, Wien, New York (1990)
Weber, K., Sun, Z.: Fuzzy Stochastic Dynamic Programming for Process of Acquiring Customers. Proceedings of the 7th Zittau Fuzzy Colloquium, Sept. 8-10, 1999, Zittau, Germany (1999) 224 - 233
Weber, K., Sun, Z.: Fuzzy Stochastic Dynamic Programming for Marketing Decision Support. Submitted to International Journal of Intelligent Systems (1999)
Weber, K.: Database Marketing mit unscharfen Verfahren. Unpublished (2000)
Zadeh, L.A., Eaton, J.H.: An Alternation Principle for Optimal Control. Automation and Remote Control 24 (1963) 305 - 306
Zadeh, L.A.: Some Reflections on Soft Computing, Granular Computing and their Roles in the Conception, Design and Utilization of Information/Intelligent Systems. Soft Computing 2 (1998) 23 - 25
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2000 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Weber, K., Sun, Z. (2000). Fuzzy Stochastic Multistage Decision Process with Implicitly Given Termination Time. In: Hampel, R., Wagenknecht, M., Chaker, N. (eds) Fuzzy Control. Advances in Soft Computing, vol 6. Physica, Heidelberg. https://doi.org/10.1007/978-3-7908-1841-3_29
Download citation
DOI: https://doi.org/10.1007/978-3-7908-1841-3_29
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1327-2
Online ISBN: 978-3-7908-1841-3
eBook Packages: Springer Book Archive