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- Title
MULTI-PRODUCT DYNAMIC ADVERTISEMENT PLANNING IN A SEGMENTED MARKET.
- Authors
AGGARWAL, Sugandha; GUPTA, Anshu; KAUL, Arshia; KRISHNAMOORTHY, Mohan; JHA, P. C.
- Abstract
In this paper, a dynamic multi-objective linear integer programming model is proposed to optimally distribute a firm’s advertising budget among multiple products and media in a segmented market. To make the media plan responsive to the changes in the market, the distribution is carried out dynamically by dividing the planning horizon into smaller periods. The model incorporates the effect of the previous period advertising reach on the current period (taken through retention factor), and it also considers crossproduct effect of simultaneously advertising different products. An application of the model is presented for an insurance firm that markets five different products, using goal programming approach.
- Subjects
ADVERTISING media planning; MARKET segmentation; JOINT products
- Publication
Yugoslav Journal of Operations Research, 2017, Vol 27, Issue 2, p169
- ISSN
0354-0243
- Publication type
Article
- DOI
10.2298/YJOR170117016A