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Optimal retail price promotions Beltov, Tor Jorgensen, Steffen Zaccour, Georges Ediciones Universidad de Valladolid Economía política Economía de empresa The paper proposes a dynamic optimization model for a retailer's price promotions of two brands in a product category. There is no general concensus in empirical marketing literature on what are the impacts of a promotion on intertemporal consumer behavior. This paper will focus on three effects: (1) The immediate, and positive, impact of a price deal on the sales of a promoted brand; (2) Brand substitution, where some consumers switch from a nonpromoted brand to a lower priced promoted brand; and (3) Consumers stockpile a promoted brand during a deal period, which affects postpromotional demand. The paper characterizes the magnitude of discounts as well as the timing and durations of promotions. Optimal policies for a myopic and a forward looking retailer are identified. We also provide comparative statics that identify the dependence of discounts and durations upon key model parameters 2016-10-10T12:30:55Z 2016-10-10T12:30:55Z 2006 info:eu-repo/semantics/article Anales de estudios económicos y empresariales, 2006, N.16, pags.9-36 0213-7569 http://uvadoc.uva.es/handle/10324/19790 9 16 36 spa Attribution-NonCommercial-NoDerivatives 4.0 International info:eu-repo/semantics/openAccess http://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf Anales de estudios económicos y empresariales https://uvadoc.uva.es/bitstream/10324/19790/5/AEEE-2006-16-optimal-retail.pdf.jpg Hispana TEXT http://creativecommons.org/licenses/by-nc-nd/4.0/ UVaDOC. Repositorio Documental de la Universidad de Valladolid http://uvadoc.uva.es/handle/10324/19790