October  2016, 12(4): 1367-1389. doi: 10.3934/jimo.2016.12.1367

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, India, India

2. 

School of Business, Public Policy and Social Entrepreneurship, Ambedkar University Delhi, Delhi-110006, India

3. 

School of Engineering and Information Technology, University of New South Wales @ ADFA, Canberra 2600, Australia

Received  December 2014 Revised  October 2015 Published  January 2016

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.
Citation: P. C. Jha, Sugandha Aggarwal, Anshu Gupta, Ruhul Sarker. Multi-criteria media mix decision model for advertising a single product with segment specific and mass media. Journal of Industrial & Management Optimization, 2016, 12 (4) : 1367-1389. doi: 10.3934/jimo.2016.12.1367
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show all references

References:
[1]

Lecture Notes in Economics and Mathematical Systems, 132 (1976), 144-145. doi: 10.1007/978-3-642-51565-1_48.  Google Scholar

[2]

Technological and Economic Development of Economy, 20 (2014), 97-115. doi: 10.3846/20294913.2014.885914.  Google Scholar

[3]

International Journal of Multicriteria Decision Making, 2 (2012), 391-407. doi: 10.1504/IJMCDM.2012.050678.  Google Scholar

[4]

European Journal of Operational Research, 85 (1995), 368-382. Google Scholar

[5]

Lecture Notes in Economics and Mathematical Systems, 132 (1976), 137-139. doi: 10.1007/978-3-642-51565-1_46.  Google Scholar

[6]

Journal of Industrial and Management Optimization, 1 (2005), 1-19. doi: 10.3934/jimo.2005.1.1.  Google Scholar

[7]

Journal of Advertising Research, 41 (2001), 27-37. Google Scholar

[8]

European Journal of Operational Research, 192 (2009), 382-395. doi: 10.1016/j.ejor.2007.09.039.  Google Scholar

[9]

Automatica, 42 (2006), 1343-1347. doi: 10.1016/j.automatica.2006.03.015.  Google Scholar

[10]

European Journal of Operational Research, 175 (2006), 1262-1267. doi: 10.1016/j.ejor.2005.06.035.  Google Scholar

[11]

Applied Mathematics and Computation, 175 (2006), 1266-1275. Google Scholar

[12]

Lecture Notes in Economics and Mathematical Systems, 132 (1976), 140-143. doi: 10.1007/978-3-642-51565-1_47.  Google Scholar

[13]

The International Journal on Media Management, 8 (2006), 164-172. doi: 10.1207/s14241250ijmm0804_2.  Google Scholar

[14]

European Journal of Operational Research, 95 (1996), 511-521. doi: 10.1016/0377-2217(95)00319-3.  Google Scholar

[15]

Journal of Advertisement Research, 18 (1978), 27-31. Google Scholar

[16]

European Journal of Operational Research, 111 (1998), 15-27. Google Scholar

[17]

Management Science, 20 (1973), 179-190. doi: 10.1287/mnsc.20.2.179.  Google Scholar

[18]

Journal of Mathematical Analysis and Applications, 22 (1968), 618-630. doi: 10.1016/0022-247X(68)90201-1.  Google Scholar

[19]

IMA Journal of Management Mathematics, 19 (2008), 219-226. doi: 10.1093/imaman/dpm040.  Google Scholar

[20]

Journal of Interdisciplinary Mathematics, 14 (2011), 29-38. doi: 10.1080/09720502.2011.10700733.  Google Scholar

[21]

The International Journal of Applied Management and Technology, (2007), 146-164. Google Scholar

[22]

Journal of Statistics and Management Systems, 16 (2013), 363-380. doi: 10.1080/09720510.2013.842057.  Google Scholar

[23]

Health Lexington Books, Lexington, Massachusetts, 1976. Google Scholar

[24]

Applied Mathematics and Computation,217 (2011), 6802-6818. doi: 10.1016/j.amc.2010.12.111.  Google Scholar

[25]

Decision Sciences,10 (1979), 577-592. doi: 10.1111/j.1540-5915.1979.tb00048.x.  Google Scholar

[26]

European Journal of Operational Research,166 (2005), 255-265. doi: 10.1016/j.ejor.2004.02.016.  Google Scholar

[27]

Industrial Management Review, 8 (1966), 15-23. Google Scholar

[28]

Current Issues and research in Advertising,12 (1990), 311-357. Google Scholar

[29]

Journal of Business Research, 6 (1978), 273-293. Google Scholar

[30]

Management Technology, 1 (1960), 94-100. doi: 10.1287/mantech.1.2.94.  Google Scholar

[31]

Expert Systems with Applications, 39 (2012), 13035-13045. doi: 10.1016/j.eswa.2012.05.095.  Google Scholar

[32]

Applied Mathematics and Computation, 148 (2004), 373-379. doi: 10.1016/S0096-3003(02)00853-6.  Google Scholar

[33]

Computer and Industrial Engineering, 29 (1995), 383-386. Google Scholar

[34]

Marketing Science,17 (1998), 214-235. doi: 10.1287/mksc.17.3.214.  Google Scholar

[35]

$5^{th}$ edition, McGraw Hill Education (India) P. Ltd., New Delhi, 2013. Google Scholar

[36]

European Journal of Operational Research, 225 (2013), 179-188. doi: 10.1016/j.ejor.2012.09.022.  Google Scholar

[37]

John Wiley, New York, 546, 1986.  Google Scholar

[38]

European Journal of Operational Research, 12 (2000), 655-656. Google Scholar

[39]

Optimization, 58 (2009), 469-477. doi: 10.1080/02331930701763355.  Google Scholar

[40]

International Game Theory Review, 11 (2009), 273-284. doi: 10.1142/S0219198909002315.  Google Scholar

[41]

Proceedings of the 2008 IEEE ICMIT, (2008), 740-745. doi: 10.1109/ICMIT.2008.4654457.  Google Scholar

[42]

Management Science, 19 (1973), 1395-1406. doi: 10.1287/mnsc.19.12.1395.  Google Scholar

[43]

Operational Research Quarterly, 26 (1975), 283-295.  Google Scholar

[44]

Journal of Business, 48 (1975), 558-570. doi: 10.1086/295782.  Google Scholar

[45]

Journal of the Operational Research Society, 26 (1975), 743-754. Google Scholar

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