An important decision variable in the promotional strategy for the beef sector is the optimal level of advertising expenditures over time. Optimal stochastic and deterministic advertising expenditures are derived for the U.S. beef industry for the period `1966 through 1980. They are compared with historical levels and gains realized by optimal advertising strategies are measured. Finally, the optimal advertising expenditures in the future are forecasted.
Prepared for presentation at the International Association of Science and Technology for Development (lASTED) International Symposium, Applied Simulation and Modeling, San Diego, July 21-23, 1982.
Lee, Kun C.; Schraufnagel, Stanley A.; and Heady, Earl O., "Optimal Stochastic Advertising Strategies for the U.S. Beef Industry" (1982). CARD Working Papers. 13.