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Industrial management --- 65.01 --- 65.01 Methods and methodology. Theory and practice of organization --- Methods and methodology. Theory and practice of organization --- Quantitative business analysis --- Business mathematics --- Mathematical models --- Organization theory --- Gestion d'entreprise --- Entreprises --- Production --- Marketing --- Sociétés --- Modèles mathématiques --- Finances --- Industrial management - Mathematical models --- Gestion d'entreprise - Modèles mathématiques --- Entreprises - Modèles mathématiques --- Production - Modèles mathématiques --- Marketing - Modèles mathématiques --- Sociétés - Finances - Modèles mathématiques
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This book is about how models can be developed to represent demand and supply on markets, where the emphasis is on demand models. Its primary focus is on models that can be used by managers to support marketing decisions. The market environment is changing rapidly and constantly. With the introduction of scanner equipment in retail outlets, the use of hand scan panels, and the data explosion caused by the Internet, the opportunity to obtain meaningful estimates of demand functions has vastly improved. Models that provide information about the sensitivity of market behavior to marketing activities such as advertising, pricing, promotions and distribution are now routinely used by managers for the identification of changes in marketing programs that can improve brand performance. In today’s environment of information overload, the challenge is to make sense of the data that is being provided globally, in real time, from thousands of sources. Modeling Markets presents a comprehensive overview of the tools and methodologies that managers can use in decision making. It has long been known that even simple models outperform judgments in predicting outcomes in a wide variety of contexts. More complex models potentially provide insights about structural relations not available from casual observations. Although marketing models are now widely accepted, the quality of the marketing decisions is critically dependent upon the quality of the models on which those decisions are based. In this book, the authors present a wealth of insights developed at the forefront of the field, covering all key aspects of specification, estimation, validation and use of models. Many current insights and innovations in quantitative marketing are presented. Throughout the book, the authors provide examples and illustrations. This book will be of interest to researchers, analysts, managers and students who want to understand, develop or use models of marketing phenomena.
Economics/Management Science. --- Marketing. --- Management/Business for Professionals. --- Operation Research/Decision Theory. --- Economics. --- Industrial management. --- Operations research. --- Economie politique --- Gestion d'entreprise --- Marketing --- Recherche opérationnelle --- Modeles mathematiques --- Gestion --- Prise de décision --- Modèles mathématiques --- Demand (Economic theory) --- Commerce --- Business & Economics --- Marketing & Sales --- Mathematical models --- Decision making --- Management --- Mathematical models. --- Consumer goods --- Domestic marketing --- Retail marketing --- Retail trade --- Business. --- Management. --- Decision making. --- Business and Management. --- Industrial management --- Aftermarkets --- Selling --- Business mathematics --- Operations Research/Decision Theory. --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Administration --- Industrial relations --- Organization --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Choice (Psychology) --- Problem solving --- Marketing - Modeles mathematiques --- Marketing - Gestion - Prise de décision - Modèles mathématiques
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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. Usually this set is based on perceived similarities in brand characteristics, advertising messages, etc. If a new marketing initiative occurs for one of the other brands, the brand manager will have a strong inclination to react. The reaction is partly based on the manager's desire to maintain some competitive parity in the mar keting variables.
Marketing --- Management --- Decision making --- Mathematical models. --- Mathematical statistics --- Quantitative methods (economics) --- 658.8 --- 519.2 --- 330.115 --- Wiskundige statistiek --- Kwantitatieve methoden (economie) --- marketing --- kwantitatieve methoden --- mathematische modellen, toegepast op bedrijfsleven --- marketingbeleid --- 658.8.4 --- Marketing research --- Prise de decision --- Business mathematics --- Consumer goods --- Domestic marketing --- Retail marketing --- Retail trade --- Industrial management --- Aftermarkets --- Selling --- Management&delete& --- Decision making&delete& --- Mathematical models --- Modeles mathematiques --- Gestion --- Modeles mathematiques. --- Marketing. --- Marketing - Modeles mathematiques --- Marketing - Gestion - Modeles mathematiques. --- Marketing - Prise de decision - Modeles mathematiques --- Marketing - Management - Decision making - Mathematical models --- Marketing - Mathematical models
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