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Cools Tools in Marketing Strategy:

Source: www.anderson.ucla.edu
Topic: Marketing Strategy

Sort Desciption: Persistence Modeling for Assessing Marketing Strategy Performance. Marnik G. Dekimpe ... better assess the long-run impact of marketing strategies. ...

Content Inside: Persistence Modeling for Assessing Marketing Strategy Performance Marnik G. Dekimpe Catholic University Leuven and Erasmus University Rotterdam and Dominique M. Hanssens UCLA Forthcoming in Cool Tools in Marketing Strategy Research Lehmann D. and Moorman C. (Eds.) Marketing Science Institute 2004. October 27 2003 1 The financial support by the Flemish Science Foundation (F.W.O.) under grant G.0116.04 is greatly appreciated. We also thank Christine Moorman and Donald Lehmann for their constructive comments on a previous version of the article. 2 INTRODUCTION The question of long-run market response lies at the heart of any marketing strategy that tries to create a sustainable competitive advantage for the firm or brand. A key challenge however is that only short-run results of marketing actions are readily observable. Persistence modeling addresses the problem of long-run market-response quantification by combining into one measure of net long-run impact the chain reaction of consumer response firm feedback and competitor response that emerges following the initial marketing action. In this paper we (i) summarize recent marketing-strategic insights that have been accumulated through various persistence modeling applications (ii) provide an introduction to some of the most frequently used persistence modeling techniques and (iii) identify some other strategic research questions where persistence modeling may prove to be particularly valuable. CONCEPTS Suppose you are a marketing executive contemplating the launch of a costly marketing campaign whose objective is to lift the sagging sales performance of a brand. Naturally the anticipated sales increase as a result of this campaign should be a primary criterion to decide whether or not to make the engagement. Indeed the campaign should be viewed as an investment of the companys time money and reputation. This investment is expected to yield a net positive return that is higher than that of altern ...

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