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Market Response Theory with Applications to Managerial Problems

Seminar (14266.0032)

            Instructor: Prof. Dr. Marc Fischer    

            1st session
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            2nd session
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            3rd session
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Examination

Examination consists of three parts:

  • Presentation on a general topic of the field of market response modeling,
  • Presentation of a research topic,
  • Term paper/research proposal on the presented research topic.

Students are jointly evaluated on their research proposals, presentations and participation.

Content

This seminar includes the theory of market response modeling and deepens its understanding based on application literature. In general, we focus on the theory of marketing response modeling, especially the specification and the purpose of response models. Under this impression, we discuss the estimation of response models. We then address selected applications to examine the characteristics of market response models in specific areas. The applications include the theory of marketing resource allocation and specific response models for marketing decisions. The latter considers the diffusion models for innovations, advertising decision models and modeling the impact of marketing strategies on firm value.

Each session will be devoted to a major topic. The reading list for each session consists of two or three "classics" or review articles and some recent contributions. Everyone will read the articles in detail and prepare a discussion on the topic. In addition, the "expert of the topic" (to be rotated among the participants) will make a 30-minute presentation about all the articles and offer his/her interpretation of the "state-of-the-art".

The final component of the course is an individually prepared term paper. It consists of the following:

  • Concise problem statement,
  • Review of contributions to date, indicating where future work is needed,
  • Original effort in solving the problem, e.g. experimental design, mathematical formulation, empirical work.

The paper should be of high quality and defendable in class discussion.

Learning Objectives

This seminar introduces into the theory and application of market response modeling. The emphasis is on research that has implications for managerial problems rather than research directed toward advancing behavioral or economic theories in marketing. With this orientation in mind, the discussions of past and current research will focus on:

  • Understanding the fundamentals of market response modelling,
  • Identification of managerial problems addressed by research,
  • Examination of the theoretical and methodological framework used to examine the problem,
  • Directions for further research.