Optimal media planning for multi-products in segmented market |
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Authors: | PC Jha Remica AggarwalAnshu Gupta |
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Institution: | Department of Operational Research, Delhi University, Delhi, India |
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Abstract: | Promotion is an essential stage of any product life cycle. All firms either concerned with single or multiple products promote their products. Advertising is the most dominated form of promotion for most of the products. Our research focuses on firms which produces a multiple range of products and advertise them using available media options. The budget constraint forms the major restriction. The existing research in media allocation of multiple products ignores the market segmentation and formulates the media plan assuming all segments alike. In this paper we formulate a media planning problem for allocating the available budget in multiple media that are found suitable for the advertising of multiple products considering marketing segmentation aspect of advertising. The objective is to maximize the total reach in all the segments. Goal programming technique is used to solve the problem. A case study is presented to show the real life application of the model. |
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Keywords: | MCDM Multi Criteria Decision Making PGDMM Post Graduate Diploma in Marketing Management PGDCA Post Graduate Diploma in Computer Applications NP Newspaper WS websites FP Front Page OP Other Page PT Prime Time OT Other Time |
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