Optimal advertising for a generalized Vidale–Wolfe response model

Yang, Yanwu; Feng, Baozhu; Salminen, Joni; Jansen, Bernard J.

doi:10.1007/s10660-021-09468-x

Cited by 11 publications

(9 citation statements)

References 74 publications

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“…They have presented a model based on the Vidale-Wolfe [41] advertising response model, which considers the relationship between market conditions and specific objectives (strategic concerns), saturation level, market responses, and advertising spending. Yang et al [44] extended that work by employing a generalized Vidale-Wolfe model as an advertising dynamic for budget allocation decisions under a finite time horizon, which is very similar to our work regarding consideration of a dynamic market.…”

Section: Media Planningmentioning

confidence: 60%

An application of approximate dynamic programming in multi-period multi-product advertising budgeting

Khalilzadeh

Neghabi

Ahadi

2023

JIMO

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<p style='text-indent:20px;'>Advertising has always been considered a key part of marketing strategy and played a prominent role in the success or failure of products. This paper investigates a multi-product and multi-period advertising budget allocation, determining the amount of advertising budget for each product through the time horizon. Imperative factors including life cycle stage, <inline-formula><tex-math id="M1">\begin{document}$ BCG $\end{document}</tex-math></inline-formula> matrix class, competitors' reactions, and budget constraints affect the joint chain of decisions for all products to maximize the total profits. To do so, we define a stochastic sequential resource allocation problem and use an approximate dynamic programming (<inline-formula><tex-math id="M2">\begin{document}$ ADP $\end{document}</tex-math></inline-formula>) algorithm to alleviate the huge size of the problem and multi-dimensional uncertainties of the environment. These uncertainties are the reactions of competitors based on the current status of the market and our decisions, as well as the stochastic effectiveness (rewards) of the taken action. We apply an approximate value iteration (<inline-formula><tex-math id="M3">\begin{document}$ AVI $\end{document}</tex-math></inline-formula>) algorithm on a numerical example and compare the results with four different policies to highlight our managerial contributions. In the end, the validity of our proposed approach is assessed against a genetic algorithm. To do so, we simplify the environment by fixing the competitor's reaction and considering a deterministic environment.</p>

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Section: Media Planningmentioning

confidence: 60%

An application of approximate dynamic programming in multi-period multi-product advertising budgeting

Khalilzadeh

Neghabi

Ahadi

2023

JIMO

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“…In the SSA field, plentiful research efforts have been made to explore search auction mechanism design (e.g., Huang and Kauffman, 2011; and search user behavior analysis (e.g., Lo et al, 2014;Vragov et al, 2019;Lian et al 2021), empirical analysis of performance indices (e.g., Yang et al, 2018;Jeziorski and Moorthy, 2018;Schultz, 2020;Yang and Zhai, 2022), and advertising decisions including bidding optimization (e.g., Küç ükaydin et al, 2020;Kim et al, 2021), budget optimization (e.g., Yang et al, 2012;Yang and Xiong, 2020;Avadhanula et al, 2021;Yang et al, 2021b), and keyword optimization (e.g., Qiao et al, 2017;Nie et al, 2019;Scholz et al, 2019;Song et al, 2021;Zhang et al, 2021). This study focuses on one particular type of keyword decisions, i.e., keyword targeting, which draws from two research streams, namely keyword selection and keyword matching.…”

Section: Related Workmentioning

confidence: 99%

“…How to efficiently allocate the limited advertising budget is the first and foremost problem faced by SSA advertisers (Yang et al, 2012;Yang and Xiong, 2020;Avadhanula et al, 2021;Yang et al, 2021b), which heavily affects other advertising decisions including keyword selection and keyword matching (Rusmevichientong and Williamson, 2006;Zhang et al, 2014;Yang et al, 2019).…”

Section: Budget Optimizationmentioning

confidence: 99%

Keyword targeting optimization in sponsored search advertising: Combining selection and matching

Yang²

2022

Electronic Commerce Research and Applications

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“…In practical situation where the MSP has a limited advertising budget, N − p l B T , the detailed steps for finding the C 2 and optimal advertising budget allocation strategy are similar to [8,Algorithm 1].…”

Section: B Optimal Covert Advertising Solutionmentioning

confidence: 99%

“…• We are the first to propose a bandwidth allocation scheme and a targeted advertising strategy for MSPs under budget constraints. An optimal targeted advertising strategy and corresponding high-quality access service profit are derived with the help of the Vidale-Wolfe advertising model [8] and the Hamiltonian function.…”

Section: Introductionmentioning

confidence: 99%

Optimal Targeted Advertising Strategy For Secure Wireless Edge Metaverse

Niyato

Kang

et al. 2021

Preprint

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Recently, Metaverse has attracted increasing attention from both industry and academia, because of the significant potential to integrate real and digital worlds ever more seamlessly. By combining advanced wireless communications, edge computing and virtual reality (VR) technologies into Metaverse, a multidimensional, intelligent and powerful wireless edge Metaverse is created for future human society. In this paper, we design a privacy preserving targeted advertising strategy for the wireless edge Metaverse. Specifically, a Metaverse service provider (MSP) allocates bandwidth to the VR users so that the users can access Metaverse from edge access points. To protect users' privacy, the covert communication technique is used in the downlink. Then, the MSP can offer high-quality access services to earn more profits. Motivated by the concept of "covert", targeted advertising is used to promote the sale of bandwidth and ensure that the advertising strategy cannot be detected by competitors who may make counter-offer and by attackers who want to disrupt the services. We derive the best advertising strategy in terms of budget input, with the help of the Vidale-Wolfe model and Hamiltonian function. Furthermore, we propose a novel metric named Meta-Immersion to represent the user's experience feelings. The performance evaluation shows that the MSP can boost its revenue with an optimal targeted advertising strategy, especially compared with that without the advertising.

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Optimal advertising for a generalized Vidale–Wolfe response model

Cited by 11 publications

References 74 publications

An application of approximate dynamic programming in multi-period multi-product advertising budgeting

An application of approximate dynamic programming in multi-period multi-product advertising budgeting

Keyword targeting optimization in sponsored search advertising: Combining selection and matching

Optimal Targeted Advertising Strategy For Secure Wireless Edge Metaverse

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