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Pooling data for the analysis of dynamic marketing systems

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  • Csilla Horváth
  • Jaap E. Wieringa

Abstract

Vector autoregressive (VAR) models have become popular in marketing literature for analyzing the behavior of competitive marketing systems. One drawback of these models is that the number of parameters can become very large, potentially leading to estimation problems. Pooling data for multiple cross‐sectional units (stores) can partly alleviate these problems. An important issue in such models is how heterogeneity among cross‐sectional units is accounted for. We investigate the performance of several pooling approaches that accommodate different levels of cross‐sectional heterogeneity in a simulation study and in an empirical application. Our results show that the random coefficients modeling approach is an overall good choice when the estimated VAR model is used for out‐of‐sample forecasting only. When the estimated model is used to compute Impulse Response Functions, we conclude that one should select a modeling approach that matches the level of heterogeneity in the data.

Suggested Citation

  • Csilla Horváth & Jaap E. Wieringa, 2008. "Pooling data for the analysis of dynamic marketing systems," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 62(2), pages 208-229, May.
    • Handle: RePEc:bla:stanee:v:62:y:2008:i:2:p:208-229
    DOI: 10.1111/j.1467-9574.2007.00382.x
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    Cited by:

    1. Sismeiro, Catarina & Mizik, Natalie & Bucklin, Randolph E., 2012. "Modeling coexisting business scenarios with time-series panel data: A dynamics-based segmentation approach," International Journal of Research in Marketing, Elsevier, vol. 29(2), pages 134-147.
    2. Nukhet Harmancioglu & Gerard J Tellis, 2018. "Silicon envy: How global innovation clusters hurt or stimulate each other across developed and emerging markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(7), pages 902-918, September.
    3. Leeflang, Peter S.H. & Bijmolt, Tammo H.A. & van Doorn, Jenny & Hanssens, Dominique M. & van Heerde, Harald J. & Verhoef, Peter C. & Wieringa, Jaap E., 2009. "Creating lift versus building the base: Current trends in marketing dynamics," International Journal of Research in Marketing, Elsevier, vol. 26(1), pages 13-20.
    4. Maier, Erik & Wieringa, Jaap, 2021. "Acquiring customers through online marketplaces? The effect of marketplace sales on sales in a retailer's own channels," International Journal of Research in Marketing, Elsevier, vol. 38(2), pages 311-328.
    5. Sood, Ashish & Kappe, Eelco & Stremersch, Stefan, 2014. "The commercial contribution of clinical studies for pharmaceutical drugs," International Journal of Research in Marketing, Elsevier, vol. 31(1), pages 65-77.

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