Emeritus Professor of Marketing
Market response models help managers understand how customers collectively respond to marketing activities, and how competitors interact. When appropriately estimated, market response models can be a basis for improved marketing decision-making.
Market response models can be classified as a) those directly linking marketing response stimuli or inputs to market response outputs, and b) those that also model a mediating process. Inputs include marketing instruments (i.e., marketing mix variables) and environmental variables. This monograph takes a forward-looking perspective, including trends, to identify research opportunities related to market response and marketing mix models as falling under four broad areas: 1) “New or under-studied inputs and/or “richer” measures of inputs constructs; 2) Explicitly accounting for the process linking inputs to outputs; 3) “New” or under-studied dependent variables; 4) Under-studied or emerging contexts.