Title Market Response Models: Econometric and Time Series Analysis (International Series in Quantitative Marketing, Volume 12 ; 2nd Edition) (International Series in Quantitative Marketing)

From 1976 to the beginning of the millennium--covering the quarter-century life span of this book and its predecessor--something remarkable has happened to market response research: it has become practice. Academics who teach in professional fields, like we do, dream of such things. Imagine the satisfaction of knowing that your work has been incorporated into the decision-making routine of brand managers, that category management relies on techniques you developed, that marketing management believes in something you struggled to establish in their minds. It's not just us that we are talking about. This pride must be shared by all of the researchers who pioneered the simple concept that the determinants of sales could be found if someone just looked for them. Of course, economists had always studied demand. But the project of extending demand analysis would fall to marketing researchers, now called marketing scientists for good reason, who saw that in reality the marketing mix was more than price; it was advertising, sales force effort, distribution, promotion, and every other decision variable that potentially affected sales. The bibliography of this book supports the notion that the academic research in marketing led the way. The journey was difficult, sometimes halting, but ultimately market response research advanced and then insinuated itself into the fabric of modern management Market Response Models: Econometric and Time Series Analysis is the leading source of information on the use of market response models for planning and forecasting. It has served as a text for graduate students in marketing, as a guide for marketing scientists and as a handbook for marketing professionals. In each case the purpose has been the same: capture the excitement and power of a technique so advanced it has literally changed the style of marketing mix decision making.
Now, in its second edition, the authors have provided a thoroughly-updated version for a new generation of marketing scholars and managers. From advances in technology and science to the recognition of database and Internet-age marketing, Market Response Models builds on its reputation as the authoritative text in its field.
The emergence of market response as an essential tool for world-class marketing has made this book even more relevant to practicing managers. Today no one can ignore the competitive edge that market response gives to companies: it is both the high-end of data mining and the basis for decision support. The fact that sales forecasts and marketing decisions can be improved with market response models is just one more reason that companies need to understand-and use-this technique.
As in the first edition, Market Response Models:

• integrates state-of-the-art technical material with discussions of its relevance to management.
• provides continuity to a decades-long research stream.
• illustrates how marketing generalizations are the basis of marketing theory and knowledge.
• shows howresearch can be applied to marketing planning and forecasting.
• presents original research in marketing.

This second edition of Market Response Models:

• places much more emphasis on the basic building blocks of market response modeling: markets, data, and sales drivers, through a separate chapter.
• splits the design of response models into separate chapters on static and dynamic models.
• discusses techniques and findings spawned by the marketing information revolution, e.g., scanner data.
• emphasizes new insights available on marketing sales drivers, especially improved understanding of sales promotion.
• demonstrates methodological developments to assess long-term impacts, where present, of current marketing efforts.
• includes a new chapter on sales forecasting.
• adds mini-case histories in the form of boxed inserts entitled Industry Perspectives, which are primarily written by business executives.

This book is truly the foundation of market response modeling. Annotation "Market Response Models: Econometric and Time SeriesAnalysis" is the leading source of information on the use of marketresponse models for planning and forecasting. It has served as a textfor graduate students in marketing, as a guide for marketingscientists and as a handbook for marketing professionals. In each casethe purpose has been the same: capture the excitement and power of atechnique so advanced it has literally changed the style of marketingmix decision making. Now, in its second edition, the authors have provided athoroughly-updated version for a new generation of marketing scholarsand managers. From advances in technology and science to therecognition of database and Internet-age marketing, "MarketResponse" "Models" builds on its reputation as the authoritativetext in its field. The emergence of market response as an essential tool for world-classmarketing has made this book even more relevant to practicingmanagers. Today no one can ignore the competitive edge that marketresponse gives to companies: it is both the high-end of data miningand the basis for decision support. The fact that sales forecasts andmarketing decisions can be improved with market response models isjust one more reason that companies need to understand-and use-thistechnique. As in the first edition, "Market Response Models": This second edition of "Market Response Models": This book is truly the foundation of marketresponse modeling Preliminaries......Page 1 CONTENTS......Page 8 Preface......Page 12 1. Response Models for Marketing Management......Page 18 2. Markets, Data, and Sales Drivers......Page 38 3. Design of Static Response Models......Page 104 4. Design of Dynamic Response Models......Page 154 5. Parameter Estimation and Model Testing......Page 198 6. Single Marketing Time Series......Page 266 7. Multiple Marketing Time Series......Page 300 8. Empirical Findings and Managerial Insights......Page 334 9. Making Marketing Plans and Sales Forecasts......Page 372 10. Implementation......Page 422 Bibliography......Page 442 Author Index......Page 496 Company/Brand Index......Page 504 Industry/Category/Product Index......Page 506 Subject Index......Page 508