A model and solution method for multi-period sales promotion design

A model and solution method for multi-period sales promotion design

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Article ID: iaor20043183
Country: Netherlands
Volume: 150
Issue: 3
Start Page Number: 672
End Page Number: 687
Publication Date: Nov 2003
Journal: European Journal of Operational Research
Authors: ,
Keywords: advertising, heuristics
Abstract:

This research addresses the optimal design of a series of promotions (which might offer free gifts, discounts, or special services) periodically mailed to potential customers. A model and methodology are presented which maximize the multiple purchases of these customers over time using opinions from both promotion designers and customers. A Genetic Algorithm-based heuristic is developed to efficiently arrive at good promotion designs, and the methodology is applied to a problem using real data.

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