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Article: Quantitative models for direct marketing: A review from systems perspective

TitleQuantitative models for direct marketing: A review from systems perspective
Authors
KeywordsCustomer profiling
Customer targeting
Data mining
Marketing
Performance evaluation
Statistical modeling
Issue Date2009
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor
Citation
European Journal Of Operational Research, 2009, v. 195 n. 1, p. 1-16 How to Cite?
AbstractIn this paper, quantitative models for direct marketing models are reviewed from a systems perspective. A systems view consists of input, processing, and output and the six key activities of direct marketing that take place within these constituent parts. A discussion about inputs for direct marketing models is provided by describing the various types of data used, by determining the significance of the data, and by addressing the issue of selection of appropriate data. Two types of models, statistical and machine learning based, are popularly used for conducting direct marketing activities. The advantages and disadvantages of these two approaches are discussed along with enhancements to these models. The evaluation of output for direct marketing models is done on the basis of accuracy and profitability. Some challenges in conducting research in the area of quantitative direct marketing models are listed and some significant research questions are proposed. © 2008 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/60218
ISSN
2015 Impact Factor: 2.679
2015 SCImago Journal Rankings: 2.595
ISI Accession Number ID
Funding AgencyGrant Number
CRCG200611159102
Funding Information:

The authors want to thank the two anonymous referees for suggesting many changes that have improved the clarity and readability of the paper. The first author gratefully acknowledges financial support received from the University of Hong Kong in the form of the CRCG Grant (Project Code 200611159102) under the Seed Funding Program for Basic Research.

References

 

DC FieldValueLanguage
dc.contributor.authorBose, Ien_HK
dc.contributor.authorChen, Xen_HK
dc.date.accessioned2010-05-31T04:06:06Z-
dc.date.available2010-05-31T04:06:06Z-
dc.date.issued2009en_HK
dc.identifier.citationEuropean Journal Of Operational Research, 2009, v. 195 n. 1, p. 1-16en_HK
dc.identifier.issn0377-2217en_HK
dc.identifier.urihttp://hdl.handle.net/10722/60218-
dc.description.abstractIn this paper, quantitative models for direct marketing models are reviewed from a systems perspective. A systems view consists of input, processing, and output and the six key activities of direct marketing that take place within these constituent parts. A discussion about inputs for direct marketing models is provided by describing the various types of data used, by determining the significance of the data, and by addressing the issue of selection of appropriate data. Two types of models, statistical and machine learning based, are popularly used for conducting direct marketing activities. The advantages and disadvantages of these two approaches are discussed along with enhancements to these models. The evaluation of output for direct marketing models is done on the basis of accuracy and profitability. Some challenges in conducting research in the area of quantitative direct marketing models are listed and some significant research questions are proposed. © 2008 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejoren_HK
dc.relation.ispartofEuropean Journal of Operational Researchen_HK
dc.subjectCustomer profilingen_HK
dc.subjectCustomer targetingen_HK
dc.subjectData miningen_HK
dc.subjectMarketingen_HK
dc.subjectPerformance evaluationen_HK
dc.subjectStatistical modelingen_HK
dc.titleQuantitative models for direct marketing: A review from systems perspectiveen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0377-2217&volume=195&spage=1&epage=16&date=2009&atitle=Quantitative+Models+For+Direct+Marketing:+A+Review+From+A+Systems+Perspectiveen_HK
dc.identifier.emailBose, I: bose@business.hku.hken_HK
dc.identifier.authorityBose, I=rp01041en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.ejor.2008.04.006en_HK
dc.identifier.scopuseid_2-s2.0-55949137626en_HK
dc.identifier.hkuros160467en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-55949137626&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume195en_HK
dc.identifier.issue1en_HK
dc.identifier.spage1en_HK
dc.identifier.epage16en_HK
dc.identifier.isiWOS:000261825100001-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridBose, I=7003751502en_HK
dc.identifier.scopusauthoridChen, X=14029590100en_HK

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