Model
The Sethi advertising model or simply the Sethi model provides a sales-advertising dynamics in the form of the following stochastic differential equation:
- .
Where:
- is the market share at time
- is the rate of advertising at time
- is the coefficient of the effectiveness of advertising
- is the decay constant
- is the diffusion coefficient
- is the Wiener process (Standard Brownian motion); is known as White noise.
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