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First Page

53

Last Page

68

Abstract

Organizations allocate a part of their financial resources to optimize their market segmentation strategies, plan marketing campaigns, and improve customer relationships. Throughout this process, they use a vast amount of electronic records generated by online and offline purchases to design effective marketing campaigns and introduce personalized promotions for their customers by employing data analytics. The problem of selecting target customer segments, given various priorities and the budget constraint, can be modeled as a multi-objective optimization problem with flexible goals and different priorities, interdependencies and resources constraints. The main objective of this paper is to demonstrate the use of the goal programming approach to address this challenge.

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