Multistage multiproduct advertising budgeting |
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| Authors: | C. Beltran-Royo H. Zhang L.A. Blanco J. Almagro |
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| Affiliation: | 1. Statistics and Operations Research, Rey Juan Carlos University, Madrid, Spain;2. School of Management, University of Shanghai for Science and Technology, Shanghai, China;3. Consulting Company Bayes Forecast, Madrid, Spain |
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| Abstract: | We propose and analyze an effective model for the Multistage Multiproduct Advertising Budgeting problem. This model optimizes the advertising investment for several products, by considering cross elasticities, different sales drivers and the whole planning horizon. We derive a simple procedure to compute the optimal advertising budget and its optimal allocation. The model was tested to plan a realistic advertising campaign. We observed that the multistage approach may significantly increase the advertising profit, compared to the successive application of the single stage approach. |
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| Keywords: | Marketing Advertising budgeting Market response models Convex programming Multistage optimization |
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