Dynamic Customization Of Marketing Messages In Interactive Media
- Topics:
- Marketing Strategy
- Source:
- Stanford Knowledgebase
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Overview: This paper brings the formulation of a unique procedure to exploit the benefits of interactive media. It studies the general problem of a marketer whose objective is to maximize expected return (e.g., response rate) over the course of a direct response marketing campaign. The marketer has the ability to dynamically allocate two or more unique marketing messages (e.g., ads, Web pages) to achieve this objective. Consumer response to a particular message may depend on a set of covariates (e.g., demographic characteristics). In ignorance of the true relationship between response and the covariates, the marketer can use regression techniques to learn about the parameters of the response functions. Moreover, because the marketer can continually update the parameter estimates, he can also continually adapt the decision of which message to select.
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Format: PDF | Size: 167KB | Date: Jan 2003 | Pages: 36
