Fuzzy Goal Programming Approach for Optimal Media Selection in a Multi-Products Segmented Market

Authors:

P.C. Jha (University of Delhi)

Remica Aggarwal

Anshu Gupta

Keywords: Advertising, Media planning, Advertising reach, Media allocation, Segmented market, Multi-objective decision making, Fuzzy goal programming.

Abstract:

Appropriate media selection involves choosing the media that are effective to the target segments of the potential market. Effectiveness or appropriateness of the media can be judged through the target audience responses to a specific media. Predicting future audience responses as well as human capability to understand & analyze past audiences is a complex problem. Hence the statistical data of audience response is bound to be uncertain. An appropriate method to deal with imprecise judgment or uncertainties in data is fuzzy logic. To the knowledge of literature, media selection and allocation problems for multi products till now have been formulated under crisp conditions. In this paper we formulate a media planning problem for allocating the available budget among the multiple media (print media and electronic media) for the advertising of multiple products in a segmented market under fuzzy predictions of the audience. impact, fuzzy budget and advertising reach constraints.