Abstract
This paper develops an optimization model that captures the annual planning of product-targeting campaigns occurring in fi nancial 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 datasets. The e ffect 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.
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