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Agent Based Model of Cross Media Reach of Advertising

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Book cover Advances in Social Simulation (ESSA 2019)

Part of the book series: Springer Proceedings in Complexity ((SPCOM))

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Abstract

In this paper we investigate how advertising communication strategy affects consumer buying decisions. We develop an agent based model that allows to compare how effectively different strategies of advertising budget location reach potential consumers. As effectiveness measures we use standard media metrics such as reach and frequency, but we define them for marketing campaigns that utilize many media vehicles (e.g. TV, Radio, Online). Model’s parametrization and agents’ features are based on results of a dedicated research study in order to obtain results valid for a population of Poland. We emphasize that our model has two unique features that are important in practical applications. Firstly, it allows us to measure not only aggregate reach and frequency but also the effectiveness of communication strategies against narrow sub-populations with high purchase potential. Secondly, one is able to assess and compare the whole distribution of projected reach of communication strategies, and in this way understand not only their expected outcome but also the associated uncertainty.

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Acknowledgements

The presented research was funded by Badania Młodych Naukowców BMN18/16/18 grant from SGH Warsaw School of Economics.

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Authors and Affiliations

  1. SGH Warsaw School of Economics, al., Niepodległości 162, 02-554, Warsaw, Poland

    Michał Kot & Bogumił Kamiński

Authors
  1. Michał Kot
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  2. Bogumił Kamiński
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Correspondence to Michał Kot .

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Editors and Affiliations

  1. Johannes Gutenberg University of Mainz, Mainz, Rheinland-Pfalz, Germany

    Petra Ahrweiler

  2. Johannes Gutenberg University of Mainz, Mainz, Rheinland-Pfalz, Germany

    Martin Neumann

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Kot, M., Kamiński, B. (2021). Agent Based Model of Cross Media Reach of Advertising. In: Ahrweiler, P., Neumann, M. (eds) Advances in Social Simulation. ESSA 2019. Springer Proceedings in Complexity. Springer, Cham. https://doi.org/10.1007/978-3-030-61503-1_5

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