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...

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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:
Banks
Bundling
Business and Management
Call centers
Customer relationship management
Customers
Direct marketing
Financial institutions
Fixed costs
General Paper
General Papers
integer programming
Management
Market planning
Market strategy
Marketing
Mathematical models
multi-channel strategies
Operations research
Operations Research/Decision Theory
Optimization
Planning
product bundling
Product differentiation
Profits
promotion campaigns
Retail banking
Studies
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cited_by cdi_FETCH-LOGICAL-c445t-4bde640f33c2396e0b3251974960cac8b7cccb2e7c79bdba040e740e22aed09c3
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container_end_page 1779
container_issue 12
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container_title The Journal of the Operational Research Society
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creator Delanote, S
Leus, R
Nobibon, F Talla
description 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.
doi_str_mv 10.1057/jors.2012.165
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source ABI/INFORM Global; Taylor and Francis Science and Technology Collection; JSTOR Archival Journals
subjects Banks
Bundling
Business and Management
Call centers
Customer relationship management
Customers
Direct marketing
Financial institutions
Fixed costs
General Paper
General Papers
integer programming
Management
Market planning
Market strategy
Marketing
Mathematical models
multi-channel strategies
Operations research
Operations Research/Decision Theory
Optimization
Planning
product bundling
Product differentiation
Profits
promotion campaigns
Retail banking
Studies
title Optimization of the annual planning of targeted offers in direct marketing
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