Multi-criteria media mix decision model for advertising a single product with segment specific and mass media

P. C.  Jha; Sugandha  Aggarwal; Anshu  Gupta; Ruhul  Sarker

doi:10.3934/jimo.2016.12.1367

Article Contents

2016, Volume 12, Issue 4: 1367-1389. Doi: 10.3934/jimo.2016.12.1367

This issue Previous Article A subgradient-based convex approximations method for DC programming and its applications Next Article A priority-based genetic algorithm for a flexible job shop scheduling problem

Multi-criteria media mix decision model for advertising a single product with segment specific and mass media

1.
Department of Operational Research, University of Delhi, Delhi-110007
2.
School of Business, Public Policy and Social Entrepreneurship, Ambedkar University Delhi, Delhi-110006
3.
School of Engineering and Information Technology, University of New South Wales @ ADFA, Canberra 2600

Received: November 30, 2014

Revised: September 30, 2015

Published: September 2016

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Abstract

The effectiveness of any advertisement campaign relies heavily on the combination of media vehicles chosen for communicating the messages and the amount of advertisements placed in them. This paper presents a media planning model that assists a firm in determining the optimal media mix for a product advertised in a segmented market. The model determines the number of advertisements to be placed in different segment specific media as well as mass media. The objective is to maximize the reach of the product in the potential market by placement of the advertisements. A case study is presented to illustrate the application of the model in which the market considered is geographically segmented on the basis of cultural and lingual diversity. The segments respond to regional advertising (segment specific) and to national advertising which reaches segments with a fixed spectrum. Interactive weighted sum goal programming technique is discussed to solve the problem.

Keywords:

Media planning,
mass advertising,
segment specific advertising,
spectrum effect,
multi-objective decision making,
interactive weighted sum goal programming.

Mathematics Subject Classification: 90B60, 90C10, 90C29.

Citation:

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