An Integrated Framework for Competitive Multi-channel Marketing of Multi-featured Products

TL;DR

This paper presents a comprehensive framework for multi-channel marketing of multi-featured products, integrating various marketing channels into social networks and optimizing budget allocation amidst competition.

Contribution

It introduces a multi-featured generalization of the linear threshold model and develops an integrated approach for channel allocation in competitive social network marketing.

Findings

Framework effectively models multiple marketing channels and product features.

Optimized budget allocation improves marketing reach in competitive settings.

Generalization enhances understanding of multi-channel, multi-featured product marketing.

Abstract

For any company, multiple channels are available for reaching a population in order to market its products. Some of the most well-known channels are (a) mass media advertisement, (b) recommendations using social advertisement, and (c) viral marketing using social networks. The company would want to maximize its reach while also accounting for simultaneous marketing of competing products, where the product marketings may not be independent. In this direction, we propose and analyze a multi-featured generalization of the classical linear threshold model. We hence develop a framework for integrating the considered marketing channels into the social network, and an approach for allocating budget among these channels.