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Marketing Decisions Under Uncertainty : International Series in Quantitative Marketing - Doug Nguyen

Marketing Decisions Under Uncertainty

International Series in Quantitative Marketing

Hardcover

Published: 31st August 1997
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Remarkable advance in quantitative marketing research in the last two decades, incorporating applied microeconomic theories, operations research and management applications, has brought the field of marketing alongside with finance, accounting and productionto within an executive'sreach for a sophisticatedtoolbox for decision­ making in an increasingly competitive and complex business environment. A quick look at Marketing, a recently published book edited by Eliashberg and Lilien would indicate even to the casual reader the extent of such methodological progress made by marketing scholars. Even in such an impressive and nearly exhaustive collection oftopics, with the notable exception pointed out by the editors of applicationsofthe scanner data, and in spite of the reference to it, an important omission is related to the issues ofmarketing decisions under conditions ofuncertainty. It is fairly obvious to the marketing executive and academician alike to recognize the important role uncertaintyplays in marketingdecisions such as pricing, promotion, advertising, sales force management, and others. The major purpose of this study is to address certain major marketing decision variables within the general context of an uncertain environment. While there have been significant progresses in analyzing marketing behaviors in a stochastic environment,the sourcesscatteramong differentmanagementandmarketingjoumals; and to the extent that these issues are addressed at all, they have aimed mainly at each separate, specifictopic at a time. Thus, our effort to bring these studies together in the same framework should facilitate our in-depth analysis of these important phenomena.

Prefacep. xi
Glossary of Symbolsp. xiii
Background and Components of the Marketing Mixp. 1
Introductionp. 3
Overviewp. 4
A General Deterministic, Static Frameworkp. 6
A Stochastic Framework: Staticsp. 9
A Stochastic Framework: Dynamicsp. 11
Concluding Remarksp. 19
Referencesp. 20
Pricing Under Uncertaintyp. 23
Overviewp. 23
Single-Product Pricing: Static Analysisp. 24
Multiple-Product Pricingp. 36
Optimal Pricing in a Dynamic Contextp. 41
Dynamics: Other Developmentp. 46
Concluding Remarksp. 55
Referencesp. 56
Advertisingp. 59
Overviewp. 59
Single-Product Advertising: Static Modelsp. 60
Multi-brand Advertisingp. 70
Dynamicsp. 79
Conclusionsp. 86
Referencesp. 87
Price Promotionsp. 89
Overviewp. 89
The Monopolistic Firm's Price Discount Decisionsp. 90
Monopolistically Competitive Equilibrium and Some Empirical Evidencep. 99
A Stochastic Cyclic Pricing Modelp. 103
Resale Price Maintenancep. 111
Persistence of Price Differences even when Consumers Learnp. 120
Conclusionsp. 125
Referencesp. 126
Salesforce Size, Compensation and Labor Heterogeneityp. 129
Overviewp. 129
Static Salesforce Sizep. 130
The Salesforce Compensationp. 140
Heterogeneous Salesforce: Other Developmentp. 152
Conclusionsp. 164
Referencesp. 165
Contexts for Possible Interactive Decisionsp. 167
Market Share and Diffusion Modelsp. 169
Overviewp. 169
Some Market Share Modelsp. 170
The MCI Modelsp. 175
Random Utility and MNL Modelsp. 180
Diffusion Models under Uncertaintyp. 190
Concluding Remarksp. 200
Referencesp. 200
Marketing, Inventory and Production Decisionsp. 203
Overviewp. 203
Product Quality and Federal Marketing Ordersp. 204
Marketing-Inventory-Productionp. 211
Production Decisionsp. 217
Long-Run Decisions: Investmentp. 229
Conclusionsp. 233
Referencesp. 234
Competitive Marketing Strategiesp. 237
Overviewp. 237
The Deterministic Frameworkp. 238
Competitive Pricing Decisionsp. 247
Competitive Advertisingp. 252
Product Competitionp. 260
Conclusionsp. 267
Referencesp. 268
Adaptive Behavior, Experimentation and Some Empirical Resultsp. 271
Overviewp. 271
Parameter Uncertaintyp. 272
Output Decisions as an Experimentp. 276
An Adaptive Advertising Modelp. 278
Simulationsp. 287
Econometric Approachesp. 290
Concluding Remarksp. 301
Referencesp. 301
Concluding Notesp. 305
Referencesp. 309
Indexp. 311
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780792399643
ISBN-10: 0792399641
Series: International Series in Quantitative Marketing
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 315
Published: 31st August 1997
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 23.5 x 15.5  x 2.54
Weight (kg): 1.44