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Market Response and Marketing Mix Models: Trends and Research Opportunities

Author

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  • Bowman, Douglas
  • Gatignon, Hubert

Abstract

Market response models help managers understand how customers collectively respond to marketing activities, and how competitors interact. When appropriately estimated, market response models can be a basis for improved marketing decision-making. Market response models can be broadly classi.ed as: (a) those directly linking marketing stimuli or more generally relevant inputs to market response outputs; and (b) those that also model a mediating process. Inputs include marketing instruments (i.e., marketing mix variables) and environmental variables. This monograph takes a forward-looking perspective, including trends, to identify research opportunities related to market response and marketing mix models as falling under four broad areas: (1) "New" or under-studied inputs and/or "richer" measures of inputs constructs; (2) Explicitly accounting for the process linking inputs to outputs; (3) "New" or under-studied dependent variables; and (4) Under-studied or emerging contexts.

Suggested Citation

  • Bowman, Douglas & Gatignon, Hubert, 2010. "Market Response and Marketing Mix Models: Trends and Research Opportunities," Foundations and Trends(R) in Marketing, now publishers, vol. 4(3), pages 129-207, May.
    • Handle: RePEc:now:fntmkt:1700000015
    DOI: 10.1561/1700000015
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    Citations

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    Cited by:

    1. Daniel Zantedeschi & Eleanor McDonnell Feit & Eric T. Bradlow, 2017. "Measuring Multichannel Advertising Response," Management Science, INFORMS, vol. 63(8), pages 2706-2728, August.
    2. Galyna CHORNOUS & Yana FARENIUK, 2021. "Marketing mix modeling for pharmaceutical companies on the basis of data science technologies," Access Journal, Access Press Publishing House, vol. 2(3), pages 274-289, September.
    3. Rafael Barreiros Porto & Nolah Schutte da Rocha Lima, 2015. "Nonlinear Impact of the Marketing Mix on Brand Sales Performance," Brazilian Business Review, Fucape Business School, vol. 12(5), pages 57-77, September.

    More about this item

    Keywords

    Market response models; Marketing mix; Bayesian methods; Structural modeling; Quantitative marketing; Econometrics; Bayesian statistics;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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