A multi-objective geometric programming model for optimal production and marketing planning

This paper presents a multi-objective geometric programming model which determines the product's sellingprice in two markets. we assume demand is a function of price and marketing expenditure in two markets.the cost of production is also assumed to be a function of demands in both markets. our model is a posynomialfunction which is solved using geometric programming (gp). in our gp implementation, we use a transformeddual problem to change the model into an optimization of an unconstraint problem with a single variablesolved using a simple line search. in order to study the behavior of the model we analyze the solution indifferent cases and a numerical example is used to demonstrate the implementation for each case.