In this paper we put forward a duration model to analyze the dynamic effects of marketing-mix variables on interpurchase times. We extend the accelerated failure-time model with an autoregressive structure. An important feature of our model is that it allows for different long-run and short-run effects of marketing-mix variables on interpurchase times. As marketing efforts usually change during the spells, we explicitly deal with time-varying covariates. Our empirical analysis of purchases in three different categories reveals that, for some segments of households, the short-run effects of marketing-mix variables are significantly different from the long-run effects.
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Paper provided by Erasmus University Rotterdam, Econometric Institute in its series Econometric Institute Report with number
289.
Find related papers by JEL classification: C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
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