Many businesses have advertisement as their primary source of revenue. Print and Audio Visual media are on forefront in this area. In today"s technology obsessed world, advertisement also forms a major source of revenue for service providers, app developers who work on mobile platforms. Advertisement on mobile platforms differs a lot from traditional advertisement. The information available with mobile devices can be exploited to target the advertisements towards specific audience. This paper discusses various approaches for targeted advertisements. It also discusses an approach to optimize allocation of advertisements to target audience.