A heuristic approach to product design
Management Science
Heuristics for product-line design using conjoint analysis
Management Science
Genetic algorithms for product design
Management Science
An approach to competitive product line design using conjoint data
Expert Systems with Applications: An International Journal
Hi-index | 12.05 |
In today's competitive markets, effective product portfolio is critical for manufacturers that offer several products. From manufacturers' perspective, the diversity must be maintained in a level in which the engineering costs do not exceed the acquired advantages of increased market share. On the other hand, product portfolio diversity is prominent for customers. In addition, manufacturers should always be careful about competitors activity. Therefore, we consider the problem of product portfolio management (PPM) in a competitive environment. This paper constructs a game theory-based mathematical model to deal with this new PPM problem. In this presented mathematical model, the PPM problem is formulated as a 2-person non-cooperative game with complete information. Each player has a set of strategies which correspond to the feasible product portfolios. Every payoff is determined by the procedure that considers the customer-engineering interaction in product portfolio planning, which aims to optimize product portfolio for a target market segment, and proposed a maximizing surplus share model for it. Therefore, obtaining the optimal product portfolio is determined by the Nash equilibrium point of this game. Finally, a numerical example is presented to demonstrate the feasibility of the approach.