Building Models for Marketing Decisions

1. Front Matter

   Pages i-xvi

   PDF

2. Introduction to marketing models

   1. Front Matter

      Pages 1-1

      PDF

   2. Introduction

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 3-12

   3. Classifying marketing models according to degree of explicitness

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 13-20

   4. Benefits from using marketing models

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 21-36

   5. A typology of marketing models

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 37-46

3. Specification

   1. Front Matter

      Pages 47-47

      PDF

   2. Elements of model building

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 49-83

   3. Marketing dynamics

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 85-99

   4. Implementation criteria with respect to model structure

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 101-121

   5. Specifying models according to intended use

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 123-155

   6. Specifying models according to level of demand

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 157-178

   7. Specifying models according to amount of behavioral detail

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 179-199

   8. Modeling competition

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 201-220

   9. Stochastic consumer behavior models

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 221-249

   10. Multiproduct models

       • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

       Pages 251-266

   11. Model specification issues

       • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

       Pages 267-297

4. Parameterization and validation

   1. Front Matter

      Pages 299-299

      PDF

   2. Organizing data

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 301-322

   3. Estimation and testing

      • Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel, Philippe A. Naert

      Pages 323-439

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.

• Brand
• Promotion
• distribution
• marketing
• pricing

• University of Groningen, The Netherlands

  Peter S. H. Leeflang, Dick R. Wittink, Michel Wedel

• Yale School of Management, USA

  Dick R. Wittink

• Tilburg University, The Netherlands

  Philippe A. Naert

Peter S.H. Leeflang (1946) is Professor of Marketing at the Department of Economics at the University of Groningen, The Netherlands, and member of the Royal Netherlands Academy of Arts and Sciences. Dick R. Wittink (1945) is the General George Rogers Clark Professor of Management and Marketing at the Yale School of Management, USA, and Professor of Marketing and Marketing Research at the University of Groningen, The Netherlands Michel Wedel (1957) is Professor of Marketing Research at the Department of Economics, University of Groningen, The Netherlands. Philippe A. Naert (1945) is the Dean of TIAS Business School and Professor of Marketing, Tilburg University, The Netherlands.

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