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Morphing Theory and Applications

In: Handbook of Marketing Decision Models

Author

Listed:
  • Gui B. Liberali

    (Erasmus University)

  • John R. Hauser

    (Massachusetts Institute of Technology)

  • Glen L. Urban

    (Massachusetts Institute of Technology)

Abstract

As electronic commerce often matches or exceeds traditional bricks-and-mortar commerce, firms seek to optimize their online marketing efforts. When feasible, these firms customize marketing efforts to the needs and desires of individual consumers, thereby increasing click-through-rates (CTR) and conversion (sales). When done well, such customization enhances consumer relationships and builds trust. In this chapter we review almost 10 years of morphing experience, including various proofs-of-concept. We start with an overview of the morphing concept and an illustrative example. We then describe how morphing and multi-armed bandits can change the way firms design and run online experiments. We then discuss the analytics of morphing, based on three published papers. We conclude with pratical recommendations for morphing applications, including key decisions, priors and convergence, data, roadmap, do’s and don’ts, open questions and relevant challenges.

Suggested Citation

  • Gui B. Liberali & John R. Hauser & Glen L. Urban, 2017. "Morphing Theory and Applications," International Series in Operations Research & Management Science, in: Berend Wierenga & Ralf van der Lans (ed.), Handbook of Marketing Decision Models, edition 2, chapter 0, pages 531-562, Springer.
    • Handle: RePEc:spr:isochp:978-3-319-56941-3_18
    DOI: 10.1007/978-3-319-56941-3_18
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    Cited by:

    1. Jichen Zhang & Panyu Wu, 2023. "On the Conjecture of Berry Regarding a Bernoulli Two-Armed Bandit," Mathematics, MDPI, vol. 11(3), pages 1-19, February.

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