Jitendra Gaur and Dr. Kumkum Bharti
The dilemma of allocation of marketing budget to multi-channels is faced by the practitioners and has remained an interesting area of research for the academia. This paper investigates and synthesizes different models and techniques used for allocation of marketing budget for three decades i.e. 1990-2019. Authors have used the PRISMA technique to create a corpus of relevant research articles. The classification of literature is done based on three broad categories i.e. constructs studied, usage of marketing channels, and models of attribution modelling. The analysis revealed that 71% of research articles were published in A* and A category of ABDC ranked journals. Around 67% of the articles on attribution modelling were published during 2014-2019 making it one of the thrust areas for research in marketing discipline. Based on the synthesis of previous literature, the prominent models used by the researchers to solve the attribution problem were Markov chain, Probit model, Linear models among others. Lastly, authors provided a conceptual framework for the ensemble model combining the properties of the Markov chain model and Shapley value to make a robust model