Building models for marketing decisions

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Omschrijving

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 mo...
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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 can provide insights about structural relations between marketing variables. Since models explicate the relations, both the process of model building and the model that ultimately results can improve the quality of marketing decisions. Managers often use rules of thumb for decisions. For example, a brand manager will have defined a specific set of alternative brands as the competitive set within a product category.
Uitgever Kluwer Academic Publishers Group
Druk 1
ISBN/EAN 9780792378136
Auteur Leeflang, P.S.H.
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