An optimal advertising media selection model for promotion of multiproducts in segmented market

Abstract

Promotion is a form of corporate communication that uses various methods to reach a targeted audience with a certain message in order to achieve specific organizational objectives. This promotional mix consists of a blend of advertising, personal selling, sales promotion and public relations tools. An advertising decision is primarily influenced by the choice of media, media budget etc. especially if the advertising is required to be done in a segmented market. Therefore an optimal advertising media selection is a strategic factor for the advertising of products in different market segments as each segment is consumer specific covering homogenous group of potential consumers with similar needs and wants. In this paper media selection model is developed to facilitate the advertising media selection process for multiple products that need to accommodate different market segments. The problem is solved through goal programming technique. A real life example from Indian business industry has been taken to validate the results.