Handbook of market research with 211 figures and 130 tables Volume 2

The proliferation of marketing media, especially since the advent of digital media, has created an urgent need for marketers to understand their relative importance in generating revenue for their brands. Ultimately, this understanding should result in managers' ability to project returns from their media investments. This chapter will focus on quantitative methods that enable such media return calculations. We begin with a definition of "return on media" and show how it connects to the need of estimating top-line lift, i.e., consumer response to media, from various data sources. We introduce the standard media-mix response model and discuss the estimation of media response elasticities. We extend these models to include brand-building and customer-equity effects and intermediate-performance variables. Finally, we address return to media in the digital era, with specific reference to path-to-purchase models, and we describe how media returns are derived from sales response models. In this handbook, internationally renowned scholars outline the current state-of-the-art of quantitative and qualitative market research. They discuss focal approaches to market research and guide students and practitioners in their real-life applications. Aspects covered include topics on data-related issues, methods, and applications. Data-related topics comprise chapters on experimental design, survey research methods, international market research, panel data fusion, and endogeneity. Method-oriented chapters look at a wide variety of data analysis methods relevant for market research, including chapters on regression, structural equation modeling (SEM), conjoint analysis, and text analysis. Application chapters focus on specific topics relevant for market research such as customer satisfaction, customer retention modeling, return on marketing, and return on price promotions. Each chapter is written by an expert in the field. The presentation of the material seeks to improve the intuitive and technical understanding of the methods covered.