{"product_id":"an-econometric-approach-to-a-marketing-decision-model-9780262561891","title":"An Econometric Approach to a Marketing Decision Model","description":"\u003cp\u003e • Author(s): Ronald E. Frank | William F. Massy\u003cbr\u003e • Publisher: MIT Press\u003cbr\u003e • Publisher Imprint: MIT Press\u003cbr\u003e • BISAC: Finance - General\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThis book describes the creation of a simulation model that is designed to serve as an artificial test market. The market is sufficiently realistic to permit it to be used for experimenting with a wide range of alternative marketing programs for a manufacturer of a branded, frequently purchased food product. \u003c\/p\u003e\u003cp\u003eThe simulator includes characterizations by brand and size of: (1) the rates of retailer promotions (such as retail price discounts, newspaper advertising, displays, signs and banners, special offers, and premiums) as a function of the promotional allowances offered by competing manufacturers; (2) the response of costumers in terms of sales volume to the aforementioned retailer's promotional activities; and (3) the transformation of these volume movement figures into estimates of manufacturer profitability. The simulation model is designed to take advantage of modern time-sharing computation facilities and permit virtually instantaneous assessment of alternatives, and to encourage the combining of executive judgments on current market conditions and probable retailer responses with historical data. \u003c\/p\u003e\u003cp\u003eIn order to develop the component of the stimulator which relates retailer promotional activities to consumer volume movement, econometric methods are used to analyze a remarkably complete set of data in such a way that the reader may follow the author's thought processes as they work through complex quantitative techniques. The econometric model that they develop is a multiple-equation model. The use of this type of model is relatively new in marketing, although econometricians have been familiar with these techniques for a number of years. The present study develops and discusses the special statistical methods required to estimate the parameters of such a model and postulates a specific model linking the demand for a given brand and size to the promotional activities of all the brand-size combinations present in the marketplace for the product in question.\u003c\/p\u003e","brand":"MIT Press","offers":[{"title":"Paperback","offer_id":46894455324823,"sku":"9780262561891","price":3497.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780262561891.webp?v=1770324479","url":"https:\/\/atlanticbooks.com\/products\/an-econometric-approach-to-a-marketing-decision-model-9780262561891","provider":"Atlantic Books","version":"1.0","type":"link"}