Analytical Approximation of Advertising Impact on Sale of Products Using Differential Equation Model
American Journal of Applied Mathematics
Volume 8, Issue 4, August 2020, Pages: 171-175
Received: May 5, 2020; Accepted: Jun. 5, 2020; Published: Jun. 17, 2020
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Authors
Brew Lewis, Department of Mathematical Sciences, University of Mines and Technology, Tarkwa, Ghana
Boahene Boahemaa Martha, Department of Mathematical Sciences, University of Mines and Technology, Tarkwa, Ghana
Brew Ebella Candy, African Resource Management, Tarkwa, Ghana
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Abstract
Advertisement involves significant amount of money and remain as one of the major issues bothering companies and other investment sectors. Advertising is a marketing strategy directed to the consumers through any media in order to present and promote product, services and any other cause. Sale of products occurs with or without advertisement and may increase or decrease depending on the market situation. The question is, is there a mathematical model that can surely confirm the effects of advertising on sales of products? The aim of this paper is to develop a first order linear differential equation model that seeks to justify the impacts of advertising on the sale of products in Ghanaian market. Two basic variables, the advertisement and sales of product were considered for the model. A system of two differential equations from the two basic variables were developed and converted to first order non-homogeneous linear differential equation. The geometrical method was employed to obtain qualitative information about the solution of the first order non-homogeneous linear differential equation. The MATLAB software package was used to plots the graphs to illustrate the behaviour of the sale of products with respect to the time of advertisement. The findings revealed that differential equation model can be used to justify the advertising impacts on the sale of products.
Keywords
Advertisement, Sale of Products, First Order Differential Equations
To cite this article
Brew Lewis, Boahene Boahemaa Martha, Brew Ebella Candy, Analytical Approximation of Advertising Impact on Sale of Products Using Differential Equation Model, American Journal of Applied Mathematics. Vol. 8, No. 4, 2020, pp. 171-175. doi: 10.11648/j.ajam.20200804.11
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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