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On the use of econometric models for policy simulation in marketing

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Managers can use econometric models to obtain possible answers to what-if questions. These models should summarize the available data in an adequate way, such that they allow for learning about the effects of the marketing mix on relevant performance measures. When these effects are quantified, the models can be used to generate outcomes of alternative marketing-mix scenarios. Managers can choose the preferred strategy on the basis of these outcomes as well as on the costs involved. In the article, various properties of econometric models that enable the user to answer what-if questions suitably are reviewed. Abstaining from technical rigor, the author shows that important properties involve the stability of the model and, most important, a formal recognition that consumers and competitors could sometimes foresee the consequences of marketing-mix strategies and decide to modify their behavior. It is argued that in the latter case, the model should be completed with equations that describe these foresights and changes in behavior. Recent marketing literature addresses this issue, but more work may need to be done..Printed Journal

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Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	American Marketing Association.,
Edisi	-
Subjek	Consumer behavior Marketing management Decision making Econometrics Simulation Models studies
ISBN/ISSN	222437
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data