Market Response Models

Market Response Models: Econometric and Time Series Analysis is the leading source of information on the use of market response models for planning and forecasting. It has served as a text for graduate students in marketing, as a guide for marketing scientists and as a handbook for marketing professionals. In each case the purpose has been the same: capture the excitement and power of a technique so advanced it has literally changed the style of marketing mix decision making. Now, in its second edition, the authors have provided a thoroughly-updated version for a new generation of marketing scholars and managers. From advances in technology and science to the recognition of database and Internet-age marketing, Market Response Models builds on its reputation as the authoritative text in its field. The emergence of market response as an essential tool for world-class marketing has made this book even more relevant to practicing managers. Today no one can ignore the competitive edge that market response gives to companies: it is both the high-end of data mining and the basis for decision support. The fact that sales forecasts and marketing decisions can be improved with market response models is just one more reason that companies need to understand-and use-this technique. As in the first edition, Market Response Models: integrates state-of-the-art technical material with discussions of its relevance to management. provides continuity to a decades-long research stream. illustrates how marketing generalizations are the basis of marketing theory and knowledge. shows how research can be applied to marketing planning and forecasting. presents original research in marketing. This second edition of Market Response Models: places much more emphasis on the basic building blocks of market response modeling: markets, data, and sales drivers, through a separate chapter. splits the design of response models into separate chapters on static and dynamic models. discusses techniques and findings spawned by the marketing information revolution, e.g., scanner data. emphasizes new insights available on marketing sales drivers, especially improved understanding of sales promotion. demonstrates methodological developments to assess long-term impacts, where present, of current marketing efforts. includes a new chapter on sales forecasting. adds mini-case histories in the form of boxed inserts entitled Industry Perspectives, which are primarily written by business executives. This book is truly the foundation of market response modeling.