Planning the digital marketing budget: computer modelling for decision making

Liudmyla Dorokhova (), Andres Kuusik (), Radi Dimitrov (), Kristian Pentus (), Oleksandr Dorokhov () and Mariana Petrova ()
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Liudmyla Dorokhova: University of Tartu, Tartu, Estonia
Andres Kuusik: University of Tartu, Tartu, Estonia
Radi Dimitrov: University of Telecommunications and Post, Sofia, Bulgaria
Kristian Pentus: University of Tartu, Tartu, Estonia
Oleksandr Dorokhov: University of Tartu, Tartu, Estonia
Mariana Petrova: St. Cyril and St. Methodius University of Veliko Tarnovo, Veliko Tarnovo, Bulgaria

Access Journal, 2023, vol. 4, issue 2, 248-260

Abstract: Objectives: The rational distribution of the advertising budget in conducting an advertising campaign using digital marketing tools is very relevant and tricky. The possibility of computer simulation of the results of the joint use of various Internet advertising tools and their impact on buyers is considered. Methods/Approach: It is proposed to use approaches based on simulation of the long-term impact of digital advertising on potential consumers. Three primary states of awareness and actions of consumers are distinguished and modelled: an uninformed consumer, a consumer who is aware of the product, a buyer, and a regular buyer. We study the dynamics of changes in the number of consumers in each group during exposure to various components of a digital advertising campaign. Results: A computer simulation model has been developed to change consumers' states during an advertising campaign. It numerically simulates the sequential transition of potential consumers to the state of regular buyers and back under the influence of the considered means of online advertising. Conclusions: The developed approach makes it possible to predict the dynamics of changes in the number of consumers and its relationship with the ratio of elements of an advertising campaign over time. The proposed model is simple to use and has good opportunities for further development.

Keywords: internet marketing; medicines consumers; social media modelling; marketing budget; decision making; computer simulation (search for similar items in EconPapers)
JEL-codes: D12 M31 M37 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aip:access:v:4:y:2023:i:2:p:248-260

DOI: 10.46656/access.2023.4.2(7)

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