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Optimization of the annual planning of targeted offers in direct marketing

Author

Listed:
  • S Delanote

    (KU Leuven, Leuven, Belgium)

  • R Leus

    (KU Leuven, Leuven, Belgium)

  • F Talla Nobibon

    (KU Leuven, Leuven, Belgium)

Abstract

This paper develops an optimization model that captures the annual planning of product-targeting campaigns occurring in financial institutions. The formulation described in this paper extends current product-targeting optimization models found in the literature on two main aspects, namely the possibility of promoting bundled products and the use of multi-channel structures. The complexity of the problem is studied and extensive computational experiments are performed on representative data sets. The effect of client segmentation is empirically examined and some strategic applications of the model are presented. Our work is based on a practical case, but all features identifying the company have been removed.

Suggested Citation

  • S Delanote & R Leus & F Talla Nobibon, 2013. "Optimization of the annual planning of targeted offers in direct marketing," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 64(12), pages 1770-1779, December.
    • Handle: RePEc:pal:jorsoc:v:64:y:2013:i:12:p:1770-1779
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    Cited by:

    1. Bigler, T. & Kammermann, M. & Baumann, P., 2023. "A matheuristic for a customer assignment problem in direct marketing," European Journal of Operational Research, Elsevier, vol. 304(2), pages 689-708.
    2. Eva Ascarza & Scott A. Neslin & Oded Netzer & Zachery Anderson & Peter S. Fader & Sunil Gupta & Bruce G. S. Hardie & Aurélie Lemmens & Barak Libai & David Neal & Foster Provost & Rom Schrift, 2018. "In Pursuit of Enhanced Customer Retention Management: Review, Key Issues, and Future Directions," Customer Needs and Solutions, Springer;Institute for Sustainable Innovation and Growth (iSIG), vol. 5(1), pages 65-81, March.
    3. Huan Yu & Ye Shi & Yugang Yu & Jie Liu & Feng Yang & Jie Wu, 2020. "Business analytics: online promotion with gift rewards," Annals of Operations Research, Springer, vol. 291(1), pages 1061-1076, August.

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