A chance constraints goal programming model for the advertising planning problem
AbstractThis paper presents a model which has been designed to decide the number of advertisement in different advertising media and the optimal allocation of the budget assigned to the different media. The main objective of this problem is to maximize the reach to the desired section of people for different media within their maximum allowable budget without violating the max and min number of advertisement goals. The media have been considered as different newspapers and different channels in Televisions. Here in this article the model has been formulated in such a way that the advertisement should reach to those who are suitable for the product instead of going to those section who are not considered suitable for the product as well. A chance constrained goal programming model has been designed after considering the parameter corresponding to reach for different media as random variables. The random variables in this case has been considered as values which have known mean and standard deviations. A case for an upcoming institution who are interested to advertise for its two years Post Graduate Diploma in Management (PGDM) programme to the different newspapers and television channels has been designed to illustrate the solution methodology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Operational Research.
Volume (Year): 192 (2009)
Issue (Month): 2 (January)
Contact details of provider:
Web page: http://www.elsevier.com/locate/eor
Advertising and media planning Stochastic programming Multi-objective decision making Goal programming;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sang M. Lee & Edward R. Clayton, 1972. "A Goal Programming Model for Academic Resource Allocation," Management Science, INFORMS, vol. 18(8), pages B395-B408, April.
- Aouni, Belaid & Ben Abdelaziz, Foued & Martel, Jean-Marc, 2005. "Decision-maker's preferences modeling in the stochastic goal programming," European Journal of Operational Research, Elsevier, vol. 162(3), pages 610-618, May.
- Fruchter, Gila E. & Kalish, Shlomo, 1998. "Dynamic promotional budgeting and media allocation," European Journal of Operational Research, Elsevier, vol. 111(1), pages 15-27, November.
- A. Charnes & W. W. Cooper, 1959. "Chance-Constrained Programming," Management Science, INFORMS, vol. 6(1), pages 73-79, October.
- A. Charnes & W. W. Cooper & R. O. Ferguson, 1955. "Optimal Estimation of Executive Compensation by Linear Programming," Management Science, INFORMS, vol. 1(2), pages 138-151, January.
- A. Charnes & W. W. Cooper & D. B. Learner & E. F. Snow, 1968. "Note on an Application of a Goal Programming Model for Media Planning," Management Science, INFORMS, vol. 14(8), pages B431-B436, April.
- A. Charnes & W. W. Cooper & J. K. Devoe & D. B. Learner & W. Reinecke, 1968. "A Goal Programming Model for Media Planning," Management Science, INFORMS, vol. 14(8), pages B423-B430, April.
- Kwak, N. K. & Lee, Chang Won & Kim, Ji Hee, 2005. "An MCDM model for media selection in the dual consumer/industrial market," European Journal of Operational Research, Elsevier, vol. 166(1), pages 255-265, October.
- Beltran-Royo, C. & Zhang, H. & Blanco, L.A. & Almagro, J., 2013. "Multistage multiproduct advertising budgeting," European Journal of Operational Research, Elsevier, vol. 225(1), pages 179-188.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.