Loading…

Optimization of the annual planning of targeted offers in direct marketing

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 possib...

Full description

Saved in:
Bibliographic Details
Published in:The Journal of the Operational Research Society 2013-12, Vol.64 (12), p.1770-1779
Main Authors: Delanote, S, Leus, R, Nobibon, F Talla
Format: Article
Language:English
Subjects:
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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.
ISSN:0160-5682
1476-9360
DOI:10.1057/jors.2012.165