Multi-product dynamic advertisement planning in a segmented market

Sugandha Aggarwal, Anshu Gupta, Arshia Kaul, Mohan Krishnamoorthy, P. C. Jha

Research output: Contribution to journalArticleResearchpeer-review

2 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)169-204
Number of pages36
JournalYugoslav Journal of Operations Research
Volume27
Issue number2
DOIs
Publication statusPublished - 2017

Keywords

  • Cross-Product Effect
  • Media Planning
  • Multiple Products
  • Segmented Market

Cite this

Aggarwal, S., Gupta, A., Kaul, A., Krishnamoorthy, M., & Jha, P. C. (2017). Multi-product dynamic advertisement planning in a segmented market. Yugoslav Journal of Operations Research, 27(2), 169-204. https://doi.org/10.2298/YJOR170117016A