An effective market optimization model for advertising budget allocation
Market response models allow to estimate the effect that marketing mix variables have on performance measures, such as sales or market share. Market optimization models (MOM) combine utility functions with market response models in order to find an optimal marketing mix. In this paper we present a MOM to allocate the annual advertising budget in a multi-sage setting. We analyze the convexity properties of this (non-linear optimization) model and present some numerical examples that show the effectiveness of the model to be used in the advertising industry.
Palabras clave: non-linear optimization advertising budget allocation
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