CUSTOMER PORTFOLIO OPTIMIZATION IN MARKETING BUDGETS ALLOCATION USING DATA ENVELOPMENT ANALYSIS AND ROBUST OPTIMIZATION

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SALEHI M.; NOURI M.

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Journal: Journal of Operational Research in its Applications Year:2017 | Volume:13 | Issue:4 (51) Page(s): 121-140

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Title

CUSTOMER PORTFOLIO OPTIMIZATION IN MARKETING BUDGETS ALLOCATION USING DATA ENVELOPMENT ANALYSIS AND ROBUST OPTIMIZATION

Author(s)

SALEHI M. | NOURI M. | Issue Writer Certificate

Keywords

CUSTOMER PORTFOLIO MANAGEMENTQ2

MARKETING BUDGETS ALLOCATIONQ2

DATA ENVELOPMENT ANALYSISQ3

UNCERTAINLY OF DATAQ2

ROBUST OPTIMIZATIONQ1

Abstract

Today, organizations spend significant budgets for creating and maintaining relationships with their clients to maintain and improve its position in competitive markets. Since, marketing managers have challenges for allocation of available budgets and selection of best innovative actions, the efficient analysis of customer behavior to allocate resources is essential. This paper proposes a two-stage model for portfolio customer management using DEA and ROBUST OPTIMIZATION. In the first stage, the performance of all customers is evaluated by robust BCC model and appropriate customers are selected as candidates for the optimal resources allocation. In the next stage, the optimal allocation is done with the objective of maximization customer lifetime value to marketing expenses ratio. The proposed model was implemented for customers of Bhban manufacturing company that operates in the medicine industry and the results were analyzed. The main contribution of this research is use of DATA ENVELOPMENT ANALYSIS and ROBUST OPTIMIZATION for customer performance evaluation simultaneously. The results showed that using this approach, customers who are candidates for the final basket in resource allocation have more expected value than other approaches in the literature.

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APA: Copy

SALEHI, M., & NOURI, M.. (2017). CUSTOMER PORTFOLIO OPTIMIZATION IN MARKETING BUDGETS ALLOCATION USING DATA ENVELOPMENT ANALYSIS AND ROBUST OPTIMIZATION. JOURNAL OF OPERATIONAL RESEARCH AND ITS APPLICATIONS (JOURNAL OF APPLIED MATHEMATICS), 13(4 (51)), 121-140. SID. https://sid.ir/paper/164665/en

Vancouver: Copy

SALEHI M., NOURI M.. CUSTOMER PORTFOLIO OPTIMIZATION IN MARKETING BUDGETS ALLOCATION USING DATA ENVELOPMENT ANALYSIS AND ROBUST OPTIMIZATION. JOURNAL OF OPERATIONAL RESEARCH AND ITS APPLICATIONS (JOURNAL OF APPLIED MATHEMATICS)[Internet]. 2017;13(4 (51)):121-140. Available from: https://sid.ir/paper/164665/en

IEEE: Copy

M. SALEHI, and M. NOURI, “CUSTOMER PORTFOLIO OPTIMIZATION IN MARKETING BUDGETS ALLOCATION USING DATA ENVELOPMENT ANALYSIS AND ROBUST OPTIMIZATION,” JOURNAL OF OPERATIONAL RESEARCH AND ITS APPLICATIONS (JOURNAL OF APPLIED MATHEMATICS), vol. 13, no. 4 (51), pp. 121–140, 2017, [Online]. Available: https://sid.ir/paper/164665/en

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