Multi-Product Dynamic Advertisement Planning in a Segmented Market

  • P. C. JHA Department of Operational Research, University of Delhi, Delhi 110007, India
  • Sugandha AGGARWAL School of Business, Galgotias University, Greater Noida, U.P. 201310, India
  • Anshu GUPTA SBPPSE, Ambedkar University Delhi, Delhi 110006, India
  • Arshia KAUL Department of Operational Research, University of Delhi, Delhi 110007, India
  • Mohan KRISHNAMOORTHY Mechanical and Aerospace Engineering Department, Monash University, Australia

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 dynamically by dividing the planning horizon into smaller periods. The model incorporates the retention effect of reach due to the previous period advertising on current period and also considers a cross-product effect of advertising among the products. An application of the model is presented for an insurance firm that markets five different products, using goal programming approach.


Keywords: Media Planning, Segmented Market, Multiple Products, Cross-Product Effect, Retention Factor, Dynamic Model.

Published
2017-06-08
How to Cite
JHA, P. C. et al. Multi-Product Dynamic Advertisement Planning in a Segmented Market. Yugoslav Journal of Operations Research, [S.l.], v. 27, n. 2, p. 169–204, june 2017. ISSN 2334-6043. Available at: <https://yujor.fon.bg.ac.rs/index.php/yujor/article/view/150>. Date accessed: 05 dec. 2024.
Citation Formats
Issue
Vol 27 No 2 (2017)
Section
Articles
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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