Publication: Optimal risk in marketing resource allocation
dc.affiliation.dpto | UC3M. Departamento de Economía de la Empresa | es |
dc.contributor.author | Balbás, Alejandro | |
dc.contributor.author | Esteban-Bravo, Mercedes | |
dc.contributor.author | Vidal-Sanz, Jose M. | |
dc.contributor.editor | Universidad Carlos III de Madrid. Departamento de Economía de la Empresa | |
dc.date.accessioned | 2009-10-20T17:30:14Z | |
dc.date.available | 2009-10-20T17:30:14Z | |
dc.date.issued | 2009-10 | |
dc.description.abstract | Marketing resource allocation is increasingly based on the optimization of expected returns on investment. If the investment is implemented in a large number of repetitive and relatively independent simple decisions, it is an acceptable method, but risk must be considered otherwise. The Markowitz classical mean-deviation approach to value marketing activities is of limited use when the probability distributions of the returns are asymmetric (a common case in marketing). In this paper we consider a unifying treatment for optimal marketing resource allocation and valuation of marketing investments in risky markets where returns can be asymmetric, using coherent risk measures recently developed in finance. We propose a set of first order conditions for the solution, and present a numerical algorithm for the computation of the optimal plan. We use this approach to design optimal advertisement investments in sales response management | |
dc.format.mimetype | application/pdf | |
dc.identifier.repec | wb090868 | |
dc.identifier.uri | https://hdl.handle.net/10016/5505 | |
dc.language.iso | eng | |
dc.relation.ispartofseries | UC3M Working papers. Business Economics | |
dc.relation.ispartofseries | 09-08 | |
dc.rights | Atribución-NoComercial-SinDerivadas 3.0 España | |
dc.rights.accessRights | open access | |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/es/ | |
dc.subject.eciencia | Empresa | |
dc.subject.other | Resource allocation | |
dc.subject.other | Coherent risk measures | |
dc.subject.other | Optimization | |
dc.subject.other | Sales response models | |
dc.title | Optimal risk in marketing resource allocation | |
dc.type | working paper | * |
dspace.entity.type | Publication |
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