Market Response Models: Econometric and Time Series Analysis

ISBN-13: 9789401069724 / Angielski / Miękka / 2011 / 400 str.

Dominique M. Hanssens;Leonard J. Parsons;Randall L. Schultz

Opis

This book reports over a decade's worth of research on the development of empirical response models that have important uses for generating marketing knowledge and improving marketing decisions. Some of its contributions to marketing are the following: 1. It integrates state-of-the art technical material with discussions of its relevance to management. 2. It provides continuity to a research stream over 20 years old. 3. It illustrates how marketing generalizations are the basis of marketing theory and marketing knowledge. 4. It shows how the research can be applied to marketing planning and forecasting. 5. It presents original research in marketing. The book addresses both marketing researchers and marketing managers. This can be done because empirical decision models are helpful in practice and are also based on theories of response. Econometric and time series analysis (ETS) is one of the few areas in marketing where there is little, if any, conflict between the academic sphere and the world of professional practice. Market Response Models is a sequel to Marketing Models and Econometric Research, published in 1976. It is rare for a research-oriented book in market ing to be updated or to have a sequel. Unlike many other methodologies, ETS research in marketing has stood the test of time. It remains the main method for discovering relations among marketing variables."

Spis treści

I. Introduction.- 1. Response Models in Marketing.- Modeling marketing systems.- Empirical response models.- Modeling approaches.- Marketing models and management.- Planning and forecasting.- The ETS method.- Summary.- II. Econometric and Time Series Model Building.- 2. Design of Response Models.- Variables.- Relations among variables.- Functional forms.- Data.- Marketing models and prior knowledge.- 3. Parameter Estimation and Model Testing.- Model section.- Estimation.- Testing.- Summary.- 4. Determining Functional Form and Lag Structure.- Specifying functional form.- Lag specification in the univariate case.- Dealing with nonstationarity.- Parameter estimation.- Forecasting.- Lag specification with multiple time series.- Summary.- 5. Determining Causal Ordering.- Causal relations.- Modeling when only the information set is known.- The relation between structural and time series models.- The concept of Granger causality.- Test procedures.- Summary.- III. ETS Models in Marketing.- 6. Sales and Market Share Response Models.- Measuring marketing effects.- The shape of the response function.- Marketing generalizations.- Models of competition.- Discussion.- 7. Marketing Dynamics.- Advertising dynamics.- Price dynamics.- Methodological challenges.- The ETS approach.- Summary.- 8. Improving Marketing Decisions.- Decision rules.- Normative marketing models.- Game theory.- Simulation.- Developing plans.- 9. An Application of ETS Modeling.- Market share response model.- Specifying attraction dynamics.- Assessing interbrand differences in market response.- Testing for marketing asymmetries.- Estimation results.- Examining competitive behavior.- Making inferences about optimal marketing behavior.- IV. Conclusion.- 10. ETS in Marketing Science and Practice.- Knowledge generation.- Implementation.- Models and decision support.