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Building Models for Marketing Decisions
This book is about marketing models and the process of model building. Our primary focus is on models that can be used by managers to support marketing decisions. It has long been known that simple models usually outperform judgments in predicting outcomes in a wide variety of contexts. For example, models of judgments tend to provide better forecasts of the outcomes than the judgments themselves (because the model eliminates the noise in judgments). And since judgments never fully reflect the complexities of the many forces that influence outcomes, it is easy to see why models of actual outcomes should be very attractive to (marketing) decision makers. Thus, appropriately constructed models...
Building Implementable Marketing Models
The observation that many models are built but few are used has almost become a commonplace in the management science and operations research literature. Nevertheless, the statement remains to a large extent true today, also and perhaps even more so where marketing models are concerned. This led Philippe Naert, now about four years ago, to write a concept text of a few hundred pages on the subject of how to build imple men table marketing models, that is, models that can and will be used. One of the readers of that early manuscript was Peter Leefiang. He made suggestions leading to a more consistent ordering of the material and pro posed the addition of some topics and the expansion of other...
Principles of Forecasting
Principles of Forecasting: A Handbook for Researchers and Practitioners summarizes knowledge from experts and from empirical studies. It provides guidelines that can be applied in fields such as economics, sociology, and psychology. It applies to problems such as those in finance (How much is this company worth?), marketing (Will a new product be successful?), personnel (How can we identify the best job candidates?), and production (What level of inventories should be kept?). The book is edited by Professor J. Scott Armstrong of the Wharton School, University of Pennsylvania. Contributions were written by 40 leading experts in forecasting, and the 30 chapters cover all types of forecasting m...
Innovation and Marketing in the Pharmaceutical Industry
The pharmaceutical industry is one of today’s most dynamic and complex industries, involving commercialization of cutting-edge scientific research, a huge web of stakeholders (from investors to doctors), multi-stage supply chains, fierce competition in the race to market, and a challenging regulatory environment. The stakes are high, with each new product raising the prospect of spectacular success—or failure. Worldwide revenues are approaching $1 trillion; in the U.S. alone, marketing for pharmaceutical products is, itself, a multi-billion dollar industry. In this volume, the editors showcase contributions from experts around the world to capture the state of the art in research, analys...
Artificial Intelligence and Machine Learning in the Travel Industry
Over the past decade, Artificial Intelligence has proved invaluable in a range of industry verticals such as automotive and assembly, life sciences, retail, oil and gas, and travel. The leading sectors adopting AI rapidly are Financial Services, Automotive and Assembly, High Tech and Telecommunications. Travel has been slow in adoption, but the opportunity for generating incremental value by leveraging AI to augment traditional analytics driven solutions is extremely high. The contributions in this book, originally published as a special issue for the Journal of Revenue and Pricing Management, showcase the breadth and scope of the technological advances that have the potential to transform the travel experience, as well as the individuals who are already putting them into practice.
Strategy Formulation
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The Purpose of Business
Business is a vital institution for a flourishing society, but there is mounting concern about its role in distorting wealth distribution, enabling and rewarding unethical behaviour, and despoiling the natural environment. A Consortium was formed in 2009 under the leadership of David Gautschi to bring together academics, business people, and interested members of society from around the world to discuss two questions: what is the purpose of business, and what is the role of the business school in the academy? Consortium Fellows gathered in eight sessions over five years from 29 countries to discuss, debate, and share perspectives on these questions. The Purpose of Business is an edited collection drawing from the perspectives of these sessions, with contributors from North America, South America, Europe, and Asia bringing culturally and intellectually diverse perspectives on these critical questions. This multifaceted work offers an exploration of business in relation to religion, art, neuroscience, geopolitics, energy, and beyond to inspire a better understanding of the role of business in the 21st century interconnected world.
Handbook of Marketing Decision Models
Marketing models is a core component of the marketing discipline. The recent developments in marketing models have been incredibly fast with information technology (e.g., the Internet), online marketing (e-commerce) and customer relationship management (CRM) creating radical changes in the way companies interact with their customers. This has created completely new breeds of marketing models, but major progress has also taken place in existing types of marketing models. The HANDBOOK OF MARKETING DECISION MODELS presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also des...
Market Response Models
From 1976 to the beginning of the millennium—covering the quarter-century life span of this book and its predecessor—something remarkable has happened to market response research: it has become practice. Academics who teach in professional fields, like we do, dream of such things. Imagine the satisfaction of knowing that your work has been incorporated into the decision-making routine of brand managers, that category management relies on techniques you developed, that marketing management believes in something you struggled to establish in their minds. It’s not just us that we are talking about. This pride must be shared by all of the researchers who pioneered the simple concept that t...
