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Diagnostics, expectations, and endogeneity
For econometric models to be really useful to answer managerially relevant "what if" questions, three important issues must be addressed. The first concerns the statistical properties of the econometric model. There are several such properties, and sometimes it seems that some of these are overlooked in practical work. The second issue recognizes that consumers and competitors might make predictions about the consequences of marketing mix actions, and in fact they may change their behaviour due to these expectations. Neglecting this issue leads to biased estimates of the effects of a marketing strategy. Finally, the third issue concerns endogeneity, which, loosely speaking, is the possibility that marketing mix decisions depend on managers' views of consumers' and competitors' expectations. This issue makes it more difficult to separate the net effect of the marketing mix from the observed effect. Fortunately, the quality of data in present-day marketing research should enable modelers to put forward models that address all three issues in a satisfactory way..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | : American Marketing Association |
|---|---|
| Edisi | - |
| Subjek | Marketing management Econometrics Mathematical models Market research Expectations studies Marketing mixes |
| ISBN/ISSN | 222437 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |