SUCCESS FACTORS OF PLACE MARKETING: A STUDY OF PLACE MARKETING PRACTICES IN NORTHERN EUROPE AND THE UNITED STATES

Campaign Execution (Model Deployment): Once the model is ready, the next step is to deploy the model in the current campaign. The model is applied to rank all potential customers by the predicted probability of belonging to the class initiating the contact. Only the top x% of the ranked list will receive the promotion (if the majority of potential customers are contacted, then direct marketing would not differ much from mass marketing). The selection of an optimal x, i.e. the x that produces the highest net profit, depends on the (predicted) performance of the model. In addition, if...