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Uncertainty representation and risk management for direct segmented marketing
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Lo, Victor S. Y., Pachamanova, Dessislava and Gulpinar, Nalan (2020) Uncertainty representation and risk management for direct segmented marketing. Journal of Marketing Management, 36 (1-2). pp. 149-175. doi:10.1080/0267257X.2019.1707265 ISSN 0267-257X.
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WRAP-uncertainty-representation-risk-management-direct-segmented-marketing-Gulpinar-2019.pdf - Accepted Version - Requires a PDF viewer. Download (10Mb) | Preview |
Official URL: https://doi.org/10.1080/0267257X.2019.1707265
Abstract
Mining for truly responsive customers has become an integral part of customer portfolio management, and, combined with operational tactics to reach these customers, requires an integrated approach to meeting customer needs that often involves the application of concepts from traditionally distinct fields: marketing, statistics, and operations research. This article brings such concepts together to address customer value and revenue maximization as well as risk minimization for direct marketing decision making problems under uncertainty. We focus on customer lift optimization given the uncertainty associated with lift estimation models, and develop risk management and operational tools for the multiple treatment (recommendation) problem using stochastic and robust optimization techniques. Results from numerical experiments are presented to illustrate the effect of incorporating uncertainty on the performance of recommendation models.
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Social Sciences > Warwick Business School > Operational Research & Management Sciences Faculty of Social Sciences > Warwick Business School |
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Journal or Publication Title: | Journal of Marketing Management | ||||||
Publisher: | Routledge | ||||||
ISSN: | 0267-257X | ||||||
Official Date: | 15 January 2020 | ||||||
Dates: |
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Volume: | 36 | ||||||
Number: | 1-2 | ||||||
Page Range: | pp. 149-175 | ||||||
DOI: | 10.1080/0267257X.2019.1707265 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Reuse Statement (publisher, data, author rights): | This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Marketing Management on 15/01/2020, available online: http://www.tandfonline.com/10.1080/0267257X.2019.1707265 | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
Date of first compliant deposit: | 16 December 2019 | ||||||
Date of first compliant Open Access: | 15 July 2021 | ||||||
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