Quantitative models have proved valuable in predicting consumer behavior in the offline world. These same techniques can be adapted to predict online actions. The use of diffusion models provides a firm foundation to implement and forecast viral marketing strategies. Choice models can predict purchases at online stores and shopbots. Hierarchical Bayesian models provide a framework to implement ...

Firms spend a significant part of their marketing budgets on sales promotions. Retail (2012) indicates that during 1997–2011, promotion accounted for roughly 75% of marketing expenditures for US packaged goods manufacturers; the other 25% was for advertising. In 2011, 58% of the budget was spent on promotion to the trade (i.e., from manufacturers to retailers), and 15% on manufacturer promotion...

This article introduces algorithmic bias in machine learning (ML) based marketing models. Although the dramatic growth of decision making continues to gain momentum marketing, research this stream is still inadequate despite devastating, asymmetric and oppressive impacts on various customer groups. To fill void, study presents a framework identifying sources drawing microfoundations dynamic cap...

Abstract A regressor is endogenous if it correlated with the unobserved residual of a model. Ignoring endogeneity may lead to biased coefficients. We deal omitted variable bias that arises firms set marketing variables considering factors (demand shocks) researchers do not observe. Whereas publications on sales response or brand choice models frequently take potential into account, multicategor...

In this paper we present the structure of “customer disvalue” phenomenon as the complementary concept for customer value. Authors, who are proponents of humanized marketing, rely on the lived-experience of customers as the primary source of data in order to grasp a first-hand understanding of the phenomenon that has been profoundly shadowed by objectivism of economics. The research is based on ...

The innovative and dynamic nature of E-business enables small companies to compete with multinational corporations via online marketing. This paper serves as a guide from a practitioner’s perspective to embark in E-business while traditional marketing strategies are diminished. Three E-business adoption models for small enterprises are discussed. Planning involving new media, Internet technolog...

This editorial discusses an illustration of the potential hindrances to the diffusion of modern methodologies in the practitioners’ (i.e. the buyers of research, not the consultants) community. Taking the example of classical regression analysis based on store-level scanner data, the authors discuss the potential limitations of the classical regression model, with the example of the occurrence ...