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Forecasting and Fudge Factors Modelling

In: Darwinian Fitness in the Global Marketplace

Author

Listed:
  • Rajagopal

    (Tecnologico de Monterrey (ITESM))

Abstract

Many experiments were carried out in the past in developing various marketing models to fit into different business situations. However, still there exists a gap in building quantitative models with academic rigour from managerial relevance. It is evident from the review of literature that though marketing modelling as emerged has a discipline over the twentieth century; marketing is considered as science in academia. This chapter discusses the forecasting and modelling techniques that support development of market-oriented competitive strategy. It has been argued that many firms develop new strategies to shift from traditional management to network orchestration by changing their focus to customer managed relationships (CMR). Such companies in transition move their orientation from company-branded products to customer-branded solutions using appropriate analytics and metrics. The companies breeding in new organisational culture follow the adaptive experimentation and prepare to meet the challenge (and change) of new mind maps.

Suggested Citation

  • Rajagopal, 2012. "Forecasting and Fudge Factors Modelling," Palgrave Macmillan Books, in: Darwinian Fitness in the Global Marketplace, chapter 6, pages 164-190, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-26833-4_6
    DOI: 10.1057/9781137268334_6
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    Cited by:

    1. A. Arun Kumar & Ebad Ur Rahman & T. Sowmyya, 2021. "Inclination o f Indian Youth Towards Video Streaming Platforms," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 20(3), pages 233-247, December.
    2. Hoque, Jawad Mahmud & Erhardt, Gregory D. & Schmitt, David & Chen, Mei & Wachs, Martin, 2021. "Estimating the uncertainty of traffic forecasts from their historical accuracy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 147(C), pages 339-349.

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