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A Multi-Objective and Multi-Product Advertising Billboard Location Model with Attraction Factor Mathematical Modeling and Solutions

Author

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  • Reza Lotfi

    (Department of Industrial Engineering, Yazd University, Yazd, Iran)

  • Yahia Zare Mehrjerdi

    (Department of Industrial Engineering, Yazd University, Yazd, Iran)

  • Nooshin Mardani

    (Islamic Azad University Takestan, Tehran, Iran)

Abstract

Location of advertising is one of the most important factors of marketing strategy, as finding the best location to install advertising billboards can have a major impact on profitability of the entire marketing process. This paper provides a billboard location model, which can determine the optimal locations for installing such billboards. The multi-objective and multi-product model developed for this purpose has two objective functions: optimizing the sales profit minus the costs of designing and installing the billboards, and attracting most visitors through maximization of an attraction factor. The designing cost is assumed to be associated with the attraction factor. This model finds the best location of billboards based on constraint such as number of visits and sales volume. Finally, a set of small and large-scale numerical examples are solved by implementing the solution method in GAMS\Cplex solver software. To solve the large-scale variants of the problem, the genetic algorithm.

Suggested Citation

  • Reza Lotfi & Yahia Zare Mehrjerdi & Nooshin Mardani, 2017. "A Multi-Objective and Multi-Product Advertising Billboard Location Model with Attraction Factor Mathematical Modeling and Solutions," International Journal of Applied Logistics (IJAL), IGI Global, vol. 7(1), pages 64-86, January.
    • Handle: RePEc:igg:jal000:v:7:y:2017:i:1:p:64-86
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    Cited by:

    1. Debabrata Das & Sameer Kumar & Nirmal Baran Hui & Vipul Jain & Charu Chandra, 2023. "Pricing and revenue-based outsourcing strategies in a multi-echelon lot-sizing model under insufficient production capacity," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 22(6), pages 514-530, December.

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