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- 819 creator jason-hartline.
- 819 creator mukund-sundararajan.
- 819 creator vahab-mirrokni.
- 819 type InProceedings.
- 819 label "Optimal Marketing Strategies over Social Networks".
- 819 sameAs 819.
- 819 abstract "We discuss the use of social networks in implementing viral marketing strategies. While \emph{influence maximization} has been studied in this context(see Chapter 24 of ~\cite{AGTBook}), we study \emph{revenue maximization}, arguably, a more natural objective. In our model, a buyer's decision to buy an item is based both which other buyers own the item and the price at which the item is offered. When the buyers are completely symmetric, we can find the optimal marketing strategy in polynomial time. In the general case, motivated by hardness results, we investigate approximation algorithms for this problem. We identify a class of strategies called \emph{influence-and-exploit strategies} that are based on the following idea: Initially \emph{influence} the population by giving the item for free to carefully chosen set of buyers. Then extract revenue from the remaining buyers using a `greedy' pricing strategy. We first argue why such strategies are reasonable and then show how to use recently developed set-function maximization techniques to find the right set of buyers to influence.".
- 819 hasAuthorList authorList.
- 819 hasTopic World_Wide_Web.
- 819 isPartOf proceedings.
- 819 keyword "Monetizing Social Networks".
- 819 keyword "Pricing".
- 819 keyword "Submodular Maximization".
- 819 keyword "combinatorial optimization".
- 819 keyword "viral Marketing".
- 819 title "Optimal Marketing Strategies over Social Networks".