An MCDM model for media selection in the dual consumer/industrial market

An optimal advertising media selection is a strategic factor for the operations of both traditional and e-business environments. This paper presents a case study that considers two options: industrial and consumer products. In order to resolve the strategic decision-making about dual market high tec...

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Bibliographic Details
Published in:European journal of operational research 2005-10, Vol.166 (1), p.255-265
Main Authors: Kwak, N.K., Lee, Chang Won, Kim, Ji Hee
Format: Article
Language:English
Subjects:
Advertising
Applied sciences
Decision theory. Utility theory
Exact sciences and technology
Goal programming
Mathematical programming
Multicriteria decision-making
Multiple criteria decision making
Operational research and scientific management
Operational research. Management science
Studies
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Summary:An optimal advertising media selection is a strategic factor for the operations of both traditional and e-business environments. This paper presents a case study that considers two options: industrial and consumer products. In order to resolve the strategic decision-making about dual market high technology products, a mixed integer goal programming model is developed to facilitate the advertising media selection process. Preemptive priority ordering is established by the analytic hierarchy process. The problem is solved lexicographically using a software package, based on the data obtained from the e-business industry in Korea. The satisfying solution is identified and analyzed, and sensitivity analyses are performed for model flexibility.
ISSN:0377-2217
1872-6860
DOI:10.1016/j.ejor.2004.02.016